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Profe$$or

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Profe$$or

Re: None

Monday, 02/18/2008 12:56:10 AM

Monday, February 18, 2008 12:56:10 AM

Post# of 137480
Cure for the Need to be Right

1. Practice shrugging and say; "I don't know." Alleviates the need to be right syndrome. Jimmy Rogers on CNBC, when quizzed about what will happen next in the stock market, the wealthy Rogers usually grins and shrugs. Then answers, "I have no idea."

2. When you enter a trade, don't get attached to the outcome. Banish expectations of which way the stock will go. That way, you won't have to be right.

3. Plan your trade and trade your plan. Know entry points, possible exit points, and protective stops. Following your plan assures you limit your risk, keeps your losses small, and your profits big.

4. Stop beating yourself up for making dumb mistakes. Berating yourself can cripple your trading career. Do not damage your self esteem. Each outcome is a learning experience. Study the thinking behind each trade. Learn from every outcome, both winning and losing.

Enroll in Wealth University today!
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