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Australia College
Australia College 

Monday, October 29, 2007

Market opinions

30. If you look for market secrets you will only find things that no one cares about. Use the conventional tools.

31. Never ask for someone else's opinion, they probably did not do as much homework as you.

32. When the market is going up, say "the market is going up." When the market is going down, say "the market is going down." Say it without qualifications, no "buts" attached. This is a reality check, you'll be amazed at how hard it is to say what is literally going on in front of you when your mind is full of preconceived opinions.

33. THE DAILY MARKET COMMENTARY: I've never had an opinion I didn't like, however, successful day trading requires flexibility. Do your homework not to develop a market opinion, but rather to understand the potential for both sides of the market. This will allow you to make your trades based on what the market is doing at the time of the trade.

34. Here is a quote to remember: "When you wake up, your instincts are wrong."

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