[gosu]

Originally Posted by bonchi07 »

Very interesting points. I think that one possible answer is having rules. Rules will be the main guide in the market. I am a day trader, so one of my rules is: As soon as I buy a stock, I put a stop loss. This keeps me sane and without guessing. If a stock is going to work, then it needs to meet all the conditions at the time of the trade. If it doesnt work, I am out and that is the end of it. I cannot over analyze it because I will go crazy. I will, however, think about the reasons why it didnt work. Maybe the mkt is going the opposite direction, maybe it doesnt have the right volume, or maybe I am just too early.

I think we all have a pain tolerance in every aspect of our lives. The market is no different. As a day trader that is another one of my rules. If any given day, I am down X, then I am out. Obviously I am not doing something right and maybe it is time take a look at the big picture. The worst thing to do is to over trade, so I have this rule to keep me from doing that.

Rules, rules rules!!! I really think that we are disciplined to follow them, it makes life so much easier. Again, this can be applied in many aspects of our lives.

Making rules for yourself is fine, so long as they do not usurp the market's role in the extraction partnership. I have one that I abide by: Every Saturday I break completely from the market and consider the greater whole of my life.