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Strategies & Market Trends : Your Worst Trading Enemy.. You
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To: shawnwolff who wrote (96)1/18/2001 8:03:17 PM
From: RobQ  Read Replies (1) of 223
 
<all the traits a good trader needs.

1. They admit freely they are wrong
2. They follow rules
3. They are good at video games>

Wow, if those are the criteria then I'm really in trouble! <g> Well I just happen to have a 10 year old at home so perhaps I too should teach him to trade? If so, what "rules" would I teach him to follow?!?! One problem is there are so many different rules (even "buy low, sell high " has been challenged here! ) Then we get burned following a "rule" and it makes it so much easier to break the rule the next time. And sometimes our egos are stroked by a success when we had a "gut feeling" and broke a rule on purpose! I got lucky with my early trading experience and am still ahead of the game but I lost lots this past year and need to be more disciplined. I need to learn WHEN TO BAIL. I collect most things but especially stocks. I was convinced that buy and hold was a good philosophy cuz it "fit" with my "collecting mentality" sic."pathology". I can tell you it's NOT the best strategy for making $$$ with techs!

Also, you're right about the market being all about perception. And in that vein, doesn't the media have way too much power over the market? More than Greenspan, I think!

PS. Don't know where you get the time or energy or wisdom or inspiration, but I'd like to reiterate what some have said about this being a most interesting thread. Thanks. Rob
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