Well said.
One caveat: No, I'm not looking for "...cameraderie and support to ward off the fear of loss...." My approach was a bit simpler than that. I was just seeking to compound my experience with yours, which as it turns out I did.
I admire your even-mindedness, and agree that "Gain is loss and loss is gain." Put another way, opposites are equal.
Another caveat: As a professional who makes my living trading, I always take action based on price patterns(plus fundamentals). I do this, not as a "...hostage to psychology," but as a technician freely picking and choosing my points of entry and exit.
The most fun, of course, is when my technical analysis blends seamlessly with actions taken "...based on property and its prospects."
BOTH technical and fundamental analysis are needed. Now, for a moment I'll adopt your oracular style to emphasize that point.
If you always take actions based exclusively on property and its prospects, someone defines that property and its prospects. Opinion is at work, yours and others. And your actions, whether broadcast to the world at large, or kept to yourself, indifferent to gain or loss, are the result of the opinions you've formed.
Opinions, kept to oneself or otherwise, are often wrong. Consider the sad case of Iridium, formed by the work and opinions of some of the leading minds in space and telecommunications technology. Iridium, the company, is bankrupt, and soon all of its multi-million dollar satellites will be blasted out of orbit and into scientific and financial ruin.
In all, never take an action based solely on property and its prospects. For you will then be taking an action based only on opinion. Mere opinion.
The Marketplace is the great arbiter, and price its ever flexible, shifting judgement. Always take an action based on property and its prospects, AND price. For, as the Markets have proven over and over again from their beginnings, The Tape Never Lies. |
