Thursday, March 11, 2010

The Daily Note - Look Out For Your Outlook!

We're optimists; as traders we have to be. I think the pessimists die young. Even the person doing their worst is an optimist; an optimist in their own ideas, but that does not necessarily mean the good.

Optimism is a belief; a belief that all will turn out well. Of course the meaning of "well" is defined by the optimist. So your see, your optimism may not be very optimistic for me. Yet what is interesting about optimism, is that it breeds more optimism. The attitude itself is creative and attracts the positive. Oops, again, here I mean the personal positive which you define and which breeds more of the same.

So I guess what I am saying is that you are your own breeder of good for yourself even if it means bad for someone else. And I guess I am also saying that a pessimist is optimistic about their pessimistic outlook. Therefore, it breeds more pessimism.

I could take this thought to many places and write an optimistic argument for each but here I am writing about trading so, I shall hold my thoughts to that.

Do you ever examine your outlook about trading and your belief in the trades you follow and enter? Whatever they may be, you are breeding more of it for yourself and it reflects in the results of your trades. entering too quickly, exiting too fast, chasing, holding back or just doing nothing, are the clues about your outlook. So, here is the pay dirt: don't blame it or try to change it, use it instead to your advantage, and then, have a nice day.

Happy Trading, Living and Dancing

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