Lincoln Alerts 11.6.12 The Thirsty Pigeon
Here is how I made 10,000 last month
Lesson – Impulsivity is a condition that plagues the noob or struggling trader. Just because the market is open doesn’t mean it needs to be traded. For each and every one of us our selected strategies work most of the time but not ALL of the time. It’s very important, especially for the novice trader to avoid trading at all costs when the signals are not clear or when you feel confused. Avoiding loss is as just important as winning since every dollar you lose needs to be made back up.
Tough markets , like today remind me of this old Aesop fable “The Thirsty Pigeon”
A Pigeon, oppressed by excessive thirst, saw a goblet of water
painted on a signboard. Not thinking the water to be only a picture,
she flew towards it with a loud whir and unwittingly smashed herself
against the signboard, jarring herself terribly. Having broken
both her wings by the blow, she fell to the ground, and was caught by
one of the bystanders.
Morral of the story- enthusiastic diligence should not outrun discretion.