This is some gold...
"When I was coming up, an old grain trader told me that "Hope" is for losers. I used to get stuck in a position, and hope it would come back, and it usually would not. In fact, my friends saw me hoping for an improvement and were fading me all the way down. It took awhile, but I learned that hope won't bring the market to your favor, but hope will make you go bankrupt. Finding people full of hope can be a gold mine for you, provided you play it right. Seeing a person "Hope" for his position to improve enables another person to get additional clarity on what the market is going to do….at least in my case…..but I like fading losers. The converse is that I don't mind or take it personally when people fade me when I'm wrong."
More here:
http://www.dailyspec...rdpress/?p=4429
Hubris, Hope, and Luck
Started by
OEXCHAOS
, Sep 16 2013 10:16 AM
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#1
Posted 16 September 2013 - 10:16 AM
Mark S Young
Wall Street Sentiment
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