Friday, May 30, 2008

Number One Account Killer...Emotion

Here is the latest from Adam...

What's the number one account killer...emotion, that's what.

Watch the new video from Adam and see how to remove the emotion that kills accounts daily!

Trade Triangle Video

The #1 Account Killer: Emotion

Well, I have to say that emotions always lose out to a solid
game plan when it comes to the markets. Here's a recent example;
we received a buy signal for gold (XAUUSDO) at $905 basis spot
on May 19th. The gold market ran up and reached an intra-day
high of $935.30 before it subsequently collapsed. I'm sure many
traders held on thinking that the sharp pullback was just a
pullback and that gold would soon regain its footing and once
again go higher.

Why subject yourself to that kind guessing and emotional type
trading when there's a better way?

Using the MarketClub's non-emotional "Trade Triangle" technology
we were able to exit the market with a small profit of $10.25 an
ounce and rest on the sidelines as gold collapsed.

There's really no room for emotion in the market place. This is
one of the greatest downfalls of most traders. You need to go
into the market with a solid game plan, this could be in the
form of MarketClub's "Trade Triangles" or it could be another
form of discipline, but having a solid game plan does give you
a reference point to work from. When you are making trading
decisions about the market while it is still trading is generally
not a good idea.

Here's a recent trading recap:

Gold (XAUUSDO): We are out of the gold buy trade from $905 on 5/19 to
5/27 at $915.25 for a profit of $10.25. We are resting on the sidelines
based on "Trade Triangle" technology.

Trade Triangle Video

Crude Oil (CL.N08): We exited our long July position from $125.63
purchased on 5/15 at 126.90 on 5/28 (original signal $128.69) for a gain
of $1.27. We are out of this market and on the sidelines based on our
"Trade Triangle" technology.

Trade Triangle Video

Whether the "Trade Triangles" turned out to be correct or incorrect,
they do provide you with discipline and a reference point that you can
hang your hat on. "Trade Triangles" are consistent and not a willy-nilly
approach to the market. Using MarketClub's "Trade Triangles" gives you
confidence as they represent a defined, measured approach that if followed
consistently will make you money in the long run.

Every success in the markets and in life,

Adam Hewison

Co-Creator, MarketClub

No comments: