Link: Anticipation vs Reaction revisited – TraderMike

Apr 12, 2007: 9:08 AM CST

Michelle, guest author at Trader Mike’s site, contributed a summary post of an earlier article (anticipation vs reaction) and also listed four more links to previous posts that are very helpful to newer and experienced traders.

She also discusses an interesting paradox in thinking:

“Beginner traders are often anxious to do the right thing. They want to be firm and disciplined. However, an experienced trader will be able to combined flexibility with a firm hand in order to enhance her/his edge”

Brett Steenbarger recently exemplified this exact sentiment in a post of trades he took on April 11th.  After ‘being flexible’ and switching his perception and trade, Dr. Steenbarger concludes:

“Years ago, I wouldn’t have made that second trade. I would have stuck with my initial long and then watched a small profit turn into a loss before covering. I would have had a good idea, but not the ability to flexibly modify or overturn that idea.”

Take the time to read through these insightful posts from market professionals.

1 Comment

One Response to “Link: Anticipation vs Reaction revisited – TraderMike”

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