untoward friday, page-137

Further to Selmax's Post
Exerp from a great book from Martin Pring Investment Pyschology, so far a great read.Perhaps show's why those on the outside look silly in there recommendations. Finger no where near the pulse and also how many times a trader sees different scenarios ie constant change.

"The principal lesson to learn is that good traders or investors
are always running scared. By this, I mean that they are
always looking over their shoulder to see what new development
might be affecting the markets. This does not mean that they are
constantly being whipped in and out of the market, nor does it
mean that they must take a pessimistic view. What it does mean
is that they have learned that the moment they relax and feel that
they have got everything figured out they know very well that a
new factor will come along to threaten their position. Their approach
is not the hold-on-at-any-cost attitude engendered by
pride of opinion. It is one of complete openness. The rationale is
as follows, "Right now I think the market is going up, but if conditions
unexpectedly change and I am lucky enough to spot it, I
will change my view and liquidate."
Peace Zzup ;))
ps Copy right concerns