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For the past several weeks there have been a lot of quotes, hopes and
projections of the markets demise. I suggest that you look at the
market in a different light. As technicians, as most of us are, we let
our individual system tell us how to act under varying market
conditions.
If you think about it we, as traders, are like counter punchers in
boxing. The other guy does something and we react. That is exactly how
we should treat the market. As an opponent. With your trading system,
you are told what to expect, with a certain degree of probability. If
you act upon its signals the degree of success is dependent upon your
reactions and the markets degree of compliance with your systems
prognostication.
To start guessing what is going to happen, leads to an opinion of the
market, and that usually leads to loses. One has a tendency to get
stubburn when he has an opinion and the longer he has had the opinion,
the more stubborn he becomes. Then opinion turns to hope, then to prayer
and then to major disaster.
Keep the discipline, look at all aspects of the market, both positive
and negative. Being blind isn't the answer, being able to go with flow
is. Ira.
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