The newest EWH Video v2 has been uploaded
Are your getting
tired of the casino stock market taking your money?
Over the past several
months we've seen a better trading environment than we've seen in a long time, with more volatility to come in the
future. This is the traders market I saw
coming back in April, when I ran a free promotion...but I find it's harder to
retain members than it is to predict the stock market, because most traders
inevitably allow their emotions to become their worst enemy.
Accurate charts and targets are worthless when you allow
emotion to get in the way of your trade. This is what I call, "thinking
small", and I see it over and over again.
Effective trading takes patience, consolidation takes time,
and for every action there is an equal and opposite reaction. Markets don't
always play nice, but there are times when markets are very predictable, and
I've proven it over an over again with uncanny accuracy, but the secret to
being consistent over time comes down to knowing when not to trade.
Nobody makes money in a sideways market, and nobody can accurately
time the market 100% of the time. Patience is the secret to winning, and a
virtue for most of us.
If you come in thinking that there should be a clear trade
for you on Monday morning, your head is already in the wrong place.
Rather than offer you
pie in the sky dreams I'd like to illustrate something that's all too real to
me.
My Father was a stock broker, working for a well known firm
in Chicago in the 1970's. His
father before him became very wealthy investing during the industrialization of
the modern world, yet this incredible expansion was inevitably followed by a
lengthy period of market consolidation, and the revolution of the 1970's. In
fact the market traded sideways for nearly the entire decade, shaking out
traders on both sides. Many pseudo market timers including my Father lost big
time, and I'm sure many gave up trading entirely, because this is predictably
what happens... you give up. The market makers even have a name for this,
"capitulation". The Dow finally broke out above Dow 1052 in 1984, as
technology led the largest market expansion in history, but just like my dear
old dad, most traders didn't see this breakout coming, and they inevitably
missed the boat.
Much has improved
since the time of paper charting.
1. Online brokerages allow us to move in and out of trades with
lightning speed.
2. The internet allows us to track price movements in real
time.
3. News breaks in near real time.
While these revolutionary innovations have opened markets up
to anyone with an internet connection, and a few hundred dollars to risk, it
has brought with it higher volatility. However, it has done nothing to limit
the inherent risk in a market that continues to trade according to human
emotion (fear/greed).
I have watched many new traders come to elliottwavehound.com
with scared money, and unrealistic expectations, only to leave after only 1
month, without having learned anything. In 99% of cases this is an emotional
reaction, and what I refer to - in my MPII publication - as "thinking
small". This thinking small limits you to small gains, and locks in your losses.
But if you're willing to put some time and effort into
learning Elliott Wave Theory, understanding that markets don't move according
to your timeline; if you're serious about learning how to trust the charts,
rather than letting your emotions get the best of you, then you should join
elliottwavehound.com today, so that you will be prepared to win, and win big
whenever the time is right, whether that's tomorrow, next week, or next year,
so make an investment in your self today!
