Do your decisions rely on data, or do you go with your gut?
Think about your most recent auto purchase. Was it based on meticulous consumer research or did you go with a model that “felt right”?
How about the last time you had to assemble something? Did you read the manual first or just figure it out as you went?
What about your most recent successful trade using the Elliott Wave Principle?
Consistent trading success demands independent thinking and emotional discipline.
Jeff Kennedy, our Chief Commodity Analyst and one of our most experienced Elliotticians, says:
I just cannot stress enough how you have to manage your emotions whenever you’re on [a] position.
Field dependence can sabotage you unknowingly when you’re trading, because you’ll see a trade signal, the trade will be there, but “it just won’t feel right.”
[It’s] one of those things that can sabotage us if we’re not aware of it, or, more importantly, [don’t] have a well-defined methodology and the discipline to follow it.
In footage from his trading course in Las Vegas, he goes on to discuss the psychological profile that makes “the best trader:”
From the complex cognitive psychology theories of eminent thinker Herbert Witkin to the merits of Star Trek characters, Jeff Kennedy and his colleague Wayne Gorman teach you practical trading lessons that can help you to “live long and prosper.”
Right now, Jeff and Wayne are offering their popular Bear Market Tutorial ONLINE, so that you can take this valuable course from the comfort and convenience of home.
The current session is underway but it's NOT too late to join… if you act now!
This week is your last chance to register and quickly catch up -- with instant access to the sessions you've missed in our on-demand archives.
With market volatility at record levels, now is the time to learn how to use psychology to your advantage. Don’t wait – join the online Bear Market Tutorial now >>
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Editor's Note:
Robert Prechter's very latest, September 2011 Elliott Wave Theorist just got published.
You get Bob's detailed look at the stock market's pattern, momentum, sentiment and other important technical evidence to help you navigate stocks from here.