You know, I spent 12 years working in the brokerage office, and believe it or not, most brokers actually know nothing about trading.
I basically spent my career around salesmen and clients, mostly of the permabull type. Technicians and (the firm's real) traders are typically permabears. It was interesting milling about talking to all the people over what seemed like a lifetime, as I learned a lot about people, and market sentiment.
The thing that struck me was the argumentative nature of the clients and salesmen. The traders would discuss scenarios, but trade what they saw. The only words that I would regularly hear from the traders were "admit defeat", but these two words would never come out of the mouths of clients or salesmen. Interesting, isn't it? Moreover, they typically buy the high and "puke" at the bottom.
In the end, there are only two types of individuals in the market, those who want to be right, and those who want to make money. Each of us must choose our destiny.
Teresa
P.S. Thanks in advance for your insights.
P.P.S. I transformed from the former to the latter, after I was humbled and spanked by the market as a youngster, and quickly left my Age of Infinite Wisdom. |
