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Real happiness in DAET stems from a trading style favoring consistency. It is probably healthier for you to have a sweet procession of profitable trading days instead of nineteen days of losses followed one big gorging day in which you make a huge profit. Consistency is the mark of a true professional in any field of endeavor. It is far better for a baseball team to hit four straight singles instead of one home run. Every sport maintains its own set of statistics such as RBIs, ERAs, on-base percentages, foul line percentages, and the like. The purpose of the statistics is to predict what any given player will do in any given situation against any other player. |
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Most people prefer consistency and predictability in human behavior instead of chaos. While you can trade like a lunatic as long as you are making money, you should develop your own trading style that suits your individual personality and outlook. My advice to you is not to look for the home runs. Lead the league in on-base percentage. Consistency is a virtue. |
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Any trader who holds a position for 4 points without trading in and out will most likely hold a loss of 14 points. Make less, but be consistent and safeturn over your positions often, and stay liquid by returning to neutral. Take losses as readily as you are willing to take profits. Take the profit that the market will give you. It is best in the very short term if you take a position based upon a trend and close out that position while the same trend is still in intact. |
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Recovering to no position prepares you to jump on the next opportunitywhatever that may bewhatever stock, whatever side (long or short), without agonizing over hurtful situations with accompanying emotional stress. This sense of balance is relied upon by any great athlete. You pick the sport and I'll bet on this technique. Any great tennis player hits the ball and immediately returns to the middle of the court (neutral) unless the anticipated return shot will have to be placed elsewhere. With balance and anticipation, in both tennis and trading, you know that the next shot has great promise of being a winner. |
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Successful DAET traders are no longer the Robin Hoods of wall Street but have evolved into Wall Street ninjas. Ninjas |
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