well stated Matt. I'm a recovering perma-bear and it is
quite an effort to reform. The more "work" that you put in
sometimes (reading articles and spending hours trying to confirm
your bias), ends up hurting you more than somebody who doesn't know
or read anything. Also, if you are a determined person, that
also gets in your way. There definitely seems to be a rhythm
to the markets -- and getting in sync to their speed is key.
That person calling for a crash in the morning better have
been hoping for a fake tweet to help their cause, because the
charts were bullish as you stated, and would take hours to even
allow for a reversal (as has since happened). For me, part of
losing the bias was realizing that news is noise, markets move
separately from fundamentals and to try and "think like the algos".
I've got a ways to go -- reading the habits of successful
traders (that you have posted), is worth studying more than
articles from zerohedge and kitco!
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Title: 12 step program well stated
$SPX symmetry?
Posted by kalinm on 25th of Apr 2013 at 03:02 pm
well stated Matt. I'm a recovering perma-bear and it is quite an effort to reform. The more "work" that you put in sometimes (reading articles and spending hours trying to confirm your bias), ends up hurting you more than somebody who doesn't know or read anything. Also, if you are a determined person, that also gets in your way. There definitely seems to be a rhythm to the markets -- and getting in sync to their speed is key. That person calling for a crash in the morning better have been hoping for a fake tweet to help their cause, because the charts were bullish as you stated, and would take hours to even allow for a reversal (as has since happened). For me, part of losing the bias was realizing that news is noise, markets move separately from fundamentals and to try and "think like the algos". I've got a ways to go -- reading the habits of successful traders (that you have posted), is worth studying more than articles from zerohedge and kitco!