Panic Doesn't Pay

Once again it was wise to wait out the opening gap. It's so easy to get caught up it the pre-market excitement but it so often pays to take a step back and wait. And especially when the gap is on what I consider to be some BS 'news'. (Shouldn't we be used to these terror alert changes by now?) I haven't made any moves today but now that all of the indices are in the green I think I'll do a little bit of adjusting to my stops.

check out my neighbors in meatspace


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Quoted

"Dramatic and emotional trading experiences tend to be negative. Pride is a great banana peel, as are hope, fear, and greed. My biggest slip-ups occurred shortly after I got emotionally involved with positions." ~ Ed Seykota
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This page contains a single entry by Michael published on August 2, 2004 1:25 PM.

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