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Strategies & Market Trends : Technical Analysis - Beginners

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To: Richard Estes who wrote (9189)2/11/1999 7:51:00 PM
From: Terry Mitchell  Read Replies (2) of 12039
 
Richard, I wholeheartedly agree with staying away from from the stock topics. Before I really got into using TA I was very much involved in a story stock and following it's topic here on SI. People in these threads let the stock become a living & breathing entity to them and get emotionally caught up in the discussions. They so want the stock to do well they will grab on to any little bit of news or info no matter how minuscule it's possible effect, if any, on the stock price. They wait with great anticipation for the news that is going to move the price to great heights and then wonder what went wrong when the price goes down or sideways. Of course it must be the market makers manipulating the price again or a large seller who is to stupid to realize that the stock is just a few days from exploding to new highs. It is amazing the number of people who let their emotions control their stock picking. When they finally give up on a stock they just go looking for another one to do it all over again. I have even followed a few threads just for the entertainment value and see this happen time and time again.

The moral of the story is find a trading system that works for you and keep your emotions out of it. Since I have been using TA when ever I have let my feelings for a stock affect my judgement it has been a loser.

Terry
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