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Another example: some have an interest in the flashing quotes, but are too hounded by anxiety to sit for very long and watch how much money they may be losing. Those who tend to be highly anxious don't do well even when the market is rising. They tend to see doom right around the corner. They are not very successful at climbing the proverbial "wall of worry" that the market erects. Like the soldier in training who tries to scale the obstacle wall but flops back, they just can't seem to make it over the wall of worry. |
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They often err in selling their positions prematurely when they have made some profit, rather than risk losing it. What they give up, of course, is the chance to make even greater profits should the stock keep rising. |
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Different Horses for Different Courses |
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In the trading types described here, the first word indicates the personality style, while the second word points to the trading behavior that typically accompanies it. In making these generalizations, please remember that I am not giving absolute types. If you identify some characteristics that feel true for you, don't expect all of them to be. These descriptions are offered solely to help you identify your trading style, not to categorize you in a limiting fashion. |
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Trading Style: Obsessive-Disciplined |
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To be obsessed is to have irresistible ideas or feelings or both. They need not be bothersome or unwanted. For our purposes, we're not using this word in a clinical, negative way. I mean it to be a general label to indicate a certain way of thinking and behaving. Some like to refer to this type as your garden variety anal or anal-compulsive personality. |
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Obsessives are able to dig in and become very involved and focused when something grabs their interest. They pay close attention to detaila very desirable trait to have when it comes to trading stocks. They like their life in order. Because they pay attention to detail, they sometimes overlook the big picture because the detail is more enthralling. |
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Their time is used efficiently, except when they procrastinate about projects they aren't sure about. Otherwise, they disdain |
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