Quote:
Originally Posted by Saint
Once you 've been doing this for some time,you do get that feel........a gut intuition about anticipating directions or reversals,etc.Not saying that it does not exist.
My l'il piece of advice:If you have a great gut,a pat on the back.Now,shun it altogether as timtomlee suggests.Having an intuition may do some great things for you until the day,that fateful day,when that one mistake may cost you your account,your wealth your family and probably your life.
So if you don't have a gut instinct,you have to objectify your trading,make it practically robotic.Set points for entry,exit,etc.Set disciplines.Set trading plan.Set everything.
And if you do have a great gut instinct,then pat yourself on your back,shun it and do exactly the same as above........Objectify.Mechanicalise.Robotify.
All the best!
Saint
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Hi Saint, Thanks for supporting my views. It is important to have response from u as many of us have followed ur thread and learnt a lot. So now members will also give heed to ur advice.
There are many who take decisions on their gut instinct. Sometimes they are called
gamblers . If u have seen the late night RKB show at Sahara Samay Mumbai, u will often see a Tarot Card reader and two prominent Astrologers who predict the market swings in coming months, even commenting on the resistance and support levels. What surprised me the most was the questions that were asked by many viewers by sms's to these guests regarding the same, even though many times their predictions have been wrong. That means there are still many who believe on their gut instinct or on
others gut instinct .
As far as intuitions are concerned, it is not always reliable. I know an islamic seer called MURSHEED, who is a clairvoyant. One of my relatives had lost a purse, containing monthly salary of Rs. 5000/-. That person asked him and just by concentraing, he revealed the exact location were the purse was lying and even gave the time frame within which it has to be taken or someone else will take it. That purse was lying on the office floor and within two hours, it was to opened by the sweeper.
Even I have tested him a lot by many questions, and he was always 100% accurate. But when I asked him about any FUTURE event, he would say, the future is always uncertain. It all depends on the principle of FREE WILL. Whatever action u take
now becomes ur
future.
So the best would be to completely rely on ur mechanical trading method, rather than relying on ur instinct for even the best in this business
cant' predict future.
Regards.
11th May 2007, 01:35 PM
Re: Role of Intutions
Re: Role of Intutions
