Monday, October 27, 2008

ARE YOU A LOSER? with mortgage rates

Are you cutting off your nose to spite your face? Do you remember the life of Vincent Van Gogh? Good old Vincent discovered his girlfriend didn't like him, so he cut off his ear. Some of you don't like having money, so you cut yourself off from it by losing it in the market. You’ll never convince us you really like money when
you’re so eager and quick to lose it.

We’re going to give you a real life example of how to mismanage your money and turn a winning trade into a loser. The trade took place earlier this year, when we witnessed a professional trader (PT) making a self-defeating move like the one we will show you. First we’ll show you how the chart looked. Then we’ll talk about what the trader did, what he would have done had we not been there, and what he should have done that he didn't do, despite the fact that he came to us to have us coach him in day trading. PT was day trading from a fifteen minute chart. He also looked at hourly charts for perspective. Five minute charts gave him a more minute vision of what was happening in the markets,.....

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