Forex Education Center/ Part 39 / FEAR STRIKES OUT
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Rumor and rumors of rumors finally took over common sense and fear was at a premium. The VIX soared to a four year high as "sell stocks and ask questions later" became the mood for the day.
Rumors about a French credit downgrade and the health of some French banks created a selling frenzy. Forget that all those rumors were denied by all major reporting agencies, when traders are blinded by fear they might believe almost anything. When people trade irrationally there can be some marvelous opportunities for those that keep a calm head and a keen eye. The best way to combat fear is to have a plan that seeks to find moves that are overdone based on reality and to doggedly control your risk.
If you have a solid plan that you stick to then fear goes away and you can take advantage of what the market brings you. Jimmy Piersall was crazy and he has papers to prove it and I may be crazy(not endorsed by any rating agency) but as bad as things are (and they are bad) they are not as nearly as bad as yesterday's market action would have you believe. Now I'll admit that some fear was totally justified especially last week but now for many stocks and some commodities, it is getting a little bit silly. I am not calling a stock market bottom necessarily, but at the same time a lot of stocks are ridiculously oversold due to fear and the loss of any rational thinking. When you trade by fear you will make bad decisions.
Fear strikes out and so will you.
The best way to combat fear is to have a plan which includes taking your losses if necessary only so you will have the capital to take advantage of the values that those driven by fear will give you. If volatility is too much for you, stay on the sidelines because if you had a good plan you should be out and you can then wait for...........
THE SUN TO RISE AGAIN.
Every comment, every upvote, every support is really appreciated.
Thanks For Reading,
@lordoftruth
If you missed to read my
previous posts from the series of Forex Education Center
You will find it in the down list:
It seems that every altcoin has its difficulties to scaling up, mostly the solution is POS.But it is hard to control the speed of the inflation in POS, so lastly a new altcoin will come to the market for alleviating the problem. It is just a vicious cycle....
awesome
Happy to hear this
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Trade what you see, not what you feel.
Well said @mindhunter
that was I did from 2009 to 2016
That is what I've done everyday since 2008 ;)
I am sure you are good trader
Thanks for your continue support
Very nice ,it was worth to read all this, thank you 🙂 up voted
Thanks for visit
Thamks for upvote
Huge thanks for support
Have a nice Sunday
No problems to give someone upvote ,help you ,help me :)
Followed, upvoted
I've found a new person to follow ;-) thanks for sharing, it seems you got more of these posts! Gonna read m soon!
Thanks for visit and support
Great post,
I am new to exchanging currencies and am unsure what to do with losses. Something you sort of clear up for me here.
"taking your losses if necessary only so you will have the capital to take advantage of the values that those driven by fear will give you."
Plan to take losses so that the capital is freed to be invested in hopefully a better trade.
Thanks for your knowledge sharing here on steemit
Happy to see you here
Thanks for support Mate
Wish you a greatt sunday