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Re: MrSparex post# 2254

Friday, 12/08/2006 2:36:34 AM

Friday, December 08, 2006 2:36:34 AM

Post# of 143047
Watsa matter, truth hurt? Just go back and read the panic in so many posts the last couple weeks including yours. I tried to help by pointing out that smart money was buying down here. Volume spoke loudly to what was happening. Every word I typed was truth without any personal attacks. I said what I said to help everyone of the posters on this board who do not understand how to play the markets. Why, because I have been where everyone of those scared posters are. It cost me a lot of money and sleepless nights to become a profitable trader. Now that I am, I can easily see other peoples mistakes. Fear is caused by uncertainty and doubt. The lack of a trading plan and poor money management is the direct cause. Fear clouds sound judgement and causes you to lose money.

The markets are designed to take as much money from the most amount of people in the least amount of time that it possibly can. Most lose, few win. To survive, you must become one of the few.

The three most important things to winning in the markets are:

-Become a good chart reader. It helps over 80% of the time.
-Devise a sound trading plan and stick to it. Never average down in a trade unless it was in your plan.
-Use proper money management and stick to your stops.

If you do all the above, you will become a profitable trader.