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Strategies & Market Trends : Trade What You See, Not What You Think
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To: Threei who wrote (141)11/4/2000 11:28:48 AM
From: Tai Jin  Read Replies (2) of 867
 
Ego raises its head when you expect stock to do something, and stock does opposite. If you don't expect anything but are ready for any turn of events, nothing wakes ego up.

I just wanted to add to this comment since this still happens to me on occasion. Whenever I try to anticipate a move by getting in before the expected move but the stock does not behave as expected, I keep believing that the stock must eventually do what I expected it to do. This is how I end up taking a bigger loss because I let the stock run against me proving me wrong in my expectations. This is definitely the ego in action - not being able to admit the mistake and letting go immediately when expectations are not met.

The best thing to do as Vadym says is to not anticipate but to react. Anticipation means prediction, and none of us are so good that we can predict with high probability the outcome of any situation. So if we are anticipating then we are gambling. If we react to a situation it is because a setup or move has been confirmed so we do not have to predict the outcome. So by conditioning ourselves to only react to the current situation then we free ourselves from any expectations which might prevent us from trading properly. "Free your mind." This is the philosophy of Tao.

...tai
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