| SP500 TRAN USD BNI INGR Chart Patterns |
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| Tuesday, December 13, 2005 |
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The Windmills Of Your Mind
It is critically important to protect your psychological capital by not overtrading or playing for excitement instead of profits. This can cause you to be emotionally "drawn down", and sit there in exhaustion and despair, usually as a move just begins that could have been a big opportunity. Yet you miss the new big trend because you were financially and emotionally eroded by overtrading in a tough market. As a result, you can't see through the negative emotions because you feel beat up by the markets. Managing your internal psychological state of mind is equally important as managing your financial position.
Just remember this: You will ALWAYS feel the most fearful when you should be the most greedy and vice versa. If you are watching every tick, hanging on every piece of news and noise that comes to you through the media, vacillating on a minute to minute basis between fear and greed, in a state that you cannot sleep or are in terror, or so elated that you know your position will just keep going up and up, you really need to get a grip and GET OVER YOURSELF! Sit down, take stock of yourself, ask yourself why you made the trade, why you bought, why you sold, why you did not sell, what your plan was, what your fail-safe strategy was, etc. Look to yourself at all times. YOU are more powerful than you will ever know. YOU can be a successful trader.
YOU can learn to ride the waves of the market and hold yourself firm and steady in the most turbulent times.
YOU are the master of your trading destiny. YOU CAN DO IT!!
SP500
WATCH CAREFULLY
STALKING
ALERT ON THIS ONE YESTERDAY DEC. 1ST
ALERT ON THIS ONE YESTERDAY
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