Archive for: March 16, 2007

Open 1.9494
Target 1.9428
SL 1.9519

RR ratio 1 / 2.7

The test of 1.9420, this week ~open price is probable, in my humble opinion, and have to confirm the establishing of a medium term up trend if tested.

Of paramount importance to the trader is fear.
Fear is a powerful, unpleasant feeling of risk or danger, either real or imagined.

I am convinced that it is necessary to “run scared”. Only an exaggerated emotion can generate the concentration necessary to survive as a trader. This is not necessarily for all traders. Some traders are pretty laid-back and relaxed when they trade.
In general, trading is a stressful business. In many areas of activity we see constant demonstrations of performing under stress. Actors of stage and screen; sports figures; cold-call sales people… It is the ability to thrive under stress that sets the best in their fields apart from the other participants.
An effective trader handles stress on a survival basis. His natural instinct of self-preservation emerges whenever he is in a stressful situation. His behavior is reduced to pure selfishness and self-survival. He fights for what is his or what he wants to be his in the in a most greedy way. He flees from danger in a most cowardly way.
There is no thought about pride or style or personal grace or honor or bravery.
Survive somehow.
Win somehow is his only purpose.
As a trader, you must get in touch with your baser instincts and learn to accept yourself in that way.