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Technical Analysis with chessNwine

chessNwine
Full-time stock trader. Follow me here and on 12631
Joined Apr 1, 2010
8,861 Blog Posts

4 comments

  1. Frog
    Frog
    March 2, 2012 at 8:22 pm

    Thanks again, Chess. I wonder how many people realize how absolutely brilliant your perspectives are here.

    One of the most amazing things about the psychology of trading is how different the same chart looks from the rear view mirror, after the action has occurred, vs. how it looks at the time you are trading it.

    That’s because of the emotions involved, of course. E.g. suppose a long term investor looks at the Nas chart of Jan. to April 2006. The emotions are calm and self-confident while noticing the obvious sideways consolidation. But the same long-term investor looking at the chart in 2006 during the month of March or April, might get all freaked out emotionally and say “Yikes; I need to exit this market pronto.”

    Depending on how the next few weeks or months play out, the IWM/RUT could be in the same situation as that here.

    And of course it will mean different things to different time frame traders. RC’s time frame on holding TZA could work out well, even at times that a long term investor would keep holding IWM.

    Thanks for helping us to calmly look at the big picture here. Regardless of how the IWM plays out here this year, this is a wonderful skill to develop.

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  2. Sooz
    Sooz
    March 2, 2012 at 11:21 pm

    my hand’s held high here..

    😉

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  3. razorsedge
    razorsedge
    March 3, 2012 at 7:01 am

    thanks for your perspective.

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