Essential Maxims And More With Your Etf Trading
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A technical analysis course will help you learn That about anything can be justified with an old saying . There’s always a maxim that is plausible that appears to justify diametrically opposed actions . No matter what the event there are maxims around to describe it . Many traders choose a maxim that will support their actions. Orin Thevault (Commodity Futures Game, Who Wins, Who loses,Why! – Mcgraw Hill ) states that sociologists have named this phenomenon ” selective perception ” . This maxim provides some comfort to the trader when he deals with a smaller profit or even a loss .
The successful trader derides maxims as conventional wisdom , that don’t have any value and that are general and that have no place in a trading plan . He believes that success in trading requires more than maxim choice and observation .
“Nothing is so useless as a general maxim” .
– Thomas Babington
Lord – Macaulay – 1859
Supposedly, if any one rule or maxim was invariably correct its validity would be eliminated because it would be followed so much . Human nature is such that any valid maxims are broken with monotonous regularity . If we have a great maxim , it doesn ‘t mean very much does it ? More than likley it won’t really be paid attention to. Everything can’t be remembered after all. Lord Macaulay may have been right . However, there are some maxims , which are applicable to good commodity trading . Some maxims are quite profound and should be remembered . You can make your own choice. In fact , I suggest that you make you’re own collection of maxims that are good to you and repeatedly question and test them .
ESSENTIAL MAXIMS TO KEEP IN MIND
The top approach that will enable you to maximize your results is playing a game that is favorable on a small scale , but still offering a good chance of success , is playing a game that is favorable on a scale that is large avoiding ruin with enough early profits . Even an unfavorable game can give you results that are profitable if you rarely play and bet big. The only road that leads inevitably to disaster is playing an unfavorable game continuously . More can be learned when you take a etf trading.
Good sports die broke .
Sure things don’t exist .
Markets don’t sleep, but traders do.
Dialog is okay if enlightenment is the goal of both.
A success that is accidentaly usually ends up a failure that is accidental.
Positive and wnegative aspects are manifested in winning.
The many can’t accomplish what the few can do .
Along the line of least resistance is a good place to take a position.
Sell famine / buy glut .
Buy rumors – sell news .
A bull can make money. A bear can make money, but a hog never can .
Don’t buy at the bottom and always sell too early .
Buy what will not go down in a bear market . Never buy something that won’t go up in a bull market .
Fatality has occured to many healthy reactions.
When market opinion leans to one side watch for a trend .
There is wisdom in patience . Wait for the times when it seems you can get unusually high profit .
Unless you have to take frequent positions, trade infrequently .
There is hardly a maxim that someone could not find fault with .
Hoard half the profits you make .
Money is easier to make than it is to keep .
The race doesn’t always go to the swift or the battle to the strong, but that’s the way to bet .
PESSIMISTIC MAXIMS
If it can go wrong, it will go wrong
No matter how great your results are, there is a person who will fake a better one.
No matter what the result, there’s always someone eager to misinterpret it .
When data is collected, that figure that seems to be totally correct – is where a mistake will be .
It may be impossible to get a wrong number, but you can still find some way to do this.
Wide is the road that leads you to destruction.
MAXIMS ON THE FUZZY SIDE
Let profits run and cut your lossings .
( basically this is just like telling a person to keep healthy and happy . )
On down days, only buy . Only sell on days that are up.
Only going to the hard knock school will give you better teaching than a etf trading.
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