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Wednesday, November 25, 2009

Looking Through a Different Lens


Most traders tend to more naturally see things through either a bullish or a bearish lens-- sometimes stretching the imagination considerably in order to make a chart conform to their personal bias. This is human nature to a large extent, and learning to step back and try to see things objectively-- or differently-- is paramount to mastering the art of profitable trading. Ask yourself continually if you're using your technical analysis skills to truly analyze the charts, or are you using them to try to find a way to get them to support your preferred view?

Denial and stubbornness are powerful trading foes. Technical analysis should be employed as a dispassionate map from which to  formulate your trading decisions. If you find yourself trying to guide TA instead of letting it guide you, it's time to step back and take another look.

-Brinkley
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