As a trader we have to understand that trading is market speculation and we buy to sell back later & sell to buy back later to this market. We should not be emotionally attached to what we buy or sell. We should be happy to do either, when the situation tells us.

When we take part, we are entering an auction, so we must have a clear plan of what we intend to do & have the discipline to follow that plan.

We should not get caught up in the atmosphere of an auction and chase price. If the auction does not interest us we stand aside. There will always be another opportunity and we should do our homework beforehand and be prepared for all outcomes and accept the reward & cost graciously.

Becoming an expert takes time, this is the school of very hard knocks. We should put in time & effort to learn & build experience.


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