thetradingdoctor

Thank you so much, Walter. Your words are wonderful and I appreciate your insights and intuitions greatly. Also, thanks to each of you who has supported me and had patience with me in the process of learning about this site. I want to say a couple of things about the brain and trading. You can buy many fancy programs, lots of bells and whistles, etc. You can go to seminars held by so-called great trading wizards who make all kinds of promises to you about how much money you will make if you just do this or that. Usually, this involves buying their software or a bunch of trading DVD's or some newsletter subscription, etc. I did everything when I first started trading around 1996. It was a total disaster for me, and I ended up doing nothing but losing money for three years. I seriously wanted to give up because I just couldn't do it. I thought everyone was smarter than I was and that people were making all kinds of money and I wasn't. It was a very dark time for me. I took about six months off and started to find my own way to trade. Slowly, steadily I brought myself back from losing all the time to only losing some of the time. I started making money, not much, but a little at a time. I began to think about all those so-called wizards and great traders and wondered this: if their system/newsletter/ books and tapes, etc are so great then why are they selling them? Why aren't they off on a desert island somewhere basking in the sun as their system is trading making them tons of money? Why are they selling any of their secrets to anyone? I had to find my own way. The Holy Grail was not out there somewhere. It was inside of me. It was about my brain and the way my brain works. It was not about someone else's brain. All of the answers were inside of me. I was looking in all the wrong places, when I should have been looking in the mirror. I made a committment to help traders all over the world to find themselves within themselves. You will hear this from me over and over again. You may or may not want to hear it, but it is my experience and it is what I have to give you. All the answers are inside of you. Your brain is unique. It is the most powerful trading tool you will ever possess. With one quadrillon connections ( called synapses)--more than all the stars in the known universe-- it is the most powerful object in the known universe. The way that you begin to train your brain is by studying one market intensely every day. You learn everything possible about that market( eg ES or GZ) until you have watched it so often and so intensely that your brain begins to see patterns. 60% of traders are primarily visual, so I am using sight as an example. Once you see patterns repeating you train your brain ( through repetition) to recognize trading signals. What happens when you train your brain in this way is that certain synaptic connections become what is called entrained or recruited. This means that they are strengthened and that they learn to see a pattern, recognize that you have seen it before, feel good about it and take the trade. This entire process of entrainment of brain neurons is what goes on in the process of learning to trade. If you are interested in my writing more about this, please let me know and I will? Also, for those of you who appreciate what I have to teach and share with you, I am intensely grateful. For those of you who are complaining about me and feel that I am not giving you enough, I am deeply sorry for any pain you are experiencing. Unfortunately, I am unable to control that. I can only control myself and give my best to you. If you are suffering, I send you love and compassion. I don't know any other way. Thanks! Janice

I apologize to everyone that I do not know how to use this board well enough to realize that there has been all this discussion on this particular thread. I have been happily posting on the Altruistic Trader thread, completely oblivious to what has been written here! That is my error due to inexperience with this particular Forum. As soon as time permits, I will go through the posts on this thread and respond. Also, I would like it to be known that I have not received one penny in payment for being on this board, either from James or from any of you. I am attempting to impart some wisdom to you and the benefit of many years of experience in the markets and in life. I seriously don't like being called a "vendor." I am not taking any new coaching students as my plate is completely full right now and I have a long waiting list. I came here to share experience with you because James asked me and I liked what he was attempting to do. I will tell you more later and willl make some kind of a response to the posts on this thread. Thanks! Janice

Thank you all for this great discussion and for your inputs. This thread is as much about trading as it is about being authentic and human. I welcome all comments as they are an opportunity for us to be in our integrity and speak our truth to ourselves and others. Every great trader gets to the point where they look in the mirror and realize that everything and everyone they are is right in front of them. It is all about having the courage to be radically honest with yourself. From all, everything good in life follows because you are walking a path of integrative evolution. This is how great traders become great and stay that way. All ideas and thoughts are welcome here, and I reach out to each of you with unconditional positive regard. Kindness is the greatest gift we give to each other and to ourselves. Thanks! Doctor Janice

I rarely recommend books, but "Atlas Shrugged" by Ayn Rand is, in my opinion, one of the best books a trader can read. In addition to the so-called Hymn About Money, there are some wonderful passages related to the reasons that we trade. If you are interested, I can provide to James the text of The Hymn to Money by Ayn Rand. Please let me know? There is a virtue to selfishess. Why is that? Each of us has only so much energy. We use this energy to give to others. IF we do not take time to restore energy to ourselves, we become as dead batteries and have little or nothing to give to others. This is part of a delicate balance of life. First, we must keep ourselves intact and boost our own energy. This may be seen as selfishness. However, in its most human form, it is a way of storing and preserving our energy so that we can give it to people in need. There is more than this, however. It is a question of to whom we give. If we give to those who continue to sap our energies and give us back nothing in return, we become energy-depleted and then have to go store up so some more energy. If we give to those who return energy to us, even in small quantities, we have a give and take situation which renews us and adds some energy value to us. One of the challenges in the markets and in life is to find people( life) and positions (market) that do not take our energy. In other words, there are drawdowns in life and drawdowns in the markets. Both depete our capital. Capital is financial, mental, emotional, physical and spiritual. What can we do about this? Stay with what is working. Stay with the people and the positions that are enriching you, that appreciate you and that give back to you. Remove yourself from capital drawdowns, both in the markets and in life. This is sooooo difficult to do, and there can be much pain associated with it. However, once you get going, it is extremely freeing. You feel lighter, more energized, renewed and appreciated. Thanks for the great posts! You guys rock! Janice

Thanks for the great question and response. This is about learning and being patient with ourselves. There are many times when we have to spend hours, days or years until we actually learn something. We may have an idea about what it is. We may have no idea about what it is. The crux of this is that it takes time to learn certain things and certain other things we just "get" almost immediately. It has to do with the way that our brains are hardwired. Do not fight against this, rather try to accept it as a reality. Also, please do not be hard on yourself for not "getting" it sooner. The most important thing is that you are on a learning curve. Some stuff will come easy for you and other stuff will not. If you continue to be positive and apply yourself, learn and study a little more every day, things will fall into place for you. Some of the greatest discoveries in history have come from years of trial and error and then "appeared" in a dream or dream-like state. What was really going on was the the brain was processing all of those years of information and trying to make sense of them. When it finally did, it came in a dream! There is a rhythm to life and to learning. It is wonderful when the "eureka" appears. What is to be gained by going back and feeling bad that you did not understand it more quickly? I think it is better to stand in the light of your new-found knowledge and be in gratitutude that you were given the time to discover it. I hope this helps a little.. Thanks! Janice

This is an interesting discussion as it brings up the issue of how traders are classified. There is a taxonomy of traders, much like the taxonomies in the animal kingdom. In this regard, I would like to how from each of you: what is your definition of a speculator? Thanks Janice

It is prudent and reasonable to catch the majority of a move. If you can do that consistently, you are a winner. Trying to top tick or bottom tick is like a blind man in a pitch dark basement looking for a black cat that isn't there. You get one chance in a lifetime to pick the absolute top or absolute bottom of a move. Try to trade the middle and be grateful if you get it. In terms of how much money people need to make every month, this is totally individualized. This is part of your trading plan and you are competing with yourself every month to succeed in this plan and be consistent. After all, it is a job, least we forget. Also, I do not advise increasing size until one is really able to execute consistently and successfully and to meet his/her monthly goals for 6 months. There are many who want to increase size when winning, and many who actually do increase size when losing. I think that either of these has a tendency to backfire and I do not recommend them. Some may, but I can only tell you what has worked for me. I believe in getting rich slowly and steadily. I do not swing for the fences or try to be brave when I don't have any real edge. Each of you must find your own way, sing your own trading song and learn from the greatest teacher in the world--the markets. No one can tell you what to or how to do it. You can read tons of books, articles, newsletters, etc, but --in the final analysis-- it is you, your screens, your keyboard and your brain that makes the final decision. Hope this helps a bit. Thanks! Janice

Helping people makes us feel good. At some level, we are all hardwired to help. In life and trading, it is important to take personal responsibility for what you say, do and think. If you are thinking about helping another trader, you may be well served by first examining and your motives. Be honest with yourself and speak the truth to yourself. Once you do that, you can speak the truth to others. Integrity and being authenticity begin from within and spread outward. Thanks! Janice

There are millions of people trading the markets. We trade the markets to make money. In order to make money, you take it from someone else who is less experienced or less lucky than you are. This is something which people do not often think about, since they are so focused on the making of money. Where does the money you make come from? Where does the money you lose go to? Whom does it come from and whom does it go it? You will read of many traders who actually do think about where it comes from and have periods of remorse or discontent about it. I think that they have to find a way to overcome those feelings as they are likely to cause some inhibition or hesitation in their trading. When you think about it, it is a sad and vicious game. Yet, it is the way of the natural world, where the strong survive and the weak perish. This is rather heavy food for thought and a poignant and powerful topic. Thank you for starting this topic and for giving everyone something to think about. Janice

You have to do what works for you. If you think it is not helping to help other traders take money from other traders, then don't do it. If you think it is helping, then do it. No two people have the same ethics, values or morals. No two people think alike, especially in the area of trading. It is important to remember that trading is a game with very high stakes. This is why emotions run so high. There are those who believe that they should not help anyone else, that they are an island unto themselves and that all they need to do is to take other peoples money before those people take their money. There are those who will tell you that this is "wrong" and that it is our responsibility to "give back" and share knowledge with others so that we can help them learn and trade. There is no right answer and no wrong answer to this issue. It is highly personal. Each of us must find our own way in the markets, just as in life. Thanks! Janice

There are two schools ( probably more!) of thought about this. For my part, I have had a trading partner for the past 10 years. I like trading with this person and I trust him. Others like to trade in large ( or small) trading groups, as it gives them a sense of belonging and helps with the isolation that so many traders feel. Trading really can be a lonely profession and many are cut out to go it alone. For the others, there is something that feels good about working with one or more people that you can trust, sharing ideas and making money. Whatever works best for you in terms of being consistently profitable is, in my opinion, the best way for you. Each of us finds his or her own way in the markets. If you are going to get a partner or partners, make your choices carefully. Thanks! Doctor Janice

Apologies for not posting more, but I have been dealing with a family situation. I welcome all comments, the good, the bad and the ugly, as they make me a better trader and a better person. There appears to be a lot of anger in some people here, and I can only say that my heart goes out to you for your suffering. I wonder how that anger works in your trading? Does it motivate you? Does it inhibit you? What do you do with your anger when you are not flinging it at someone else? Perhaps you turn it inward to habits which are somewhat self-destructive? I don't know the answer to this. I do know, that in the early stages of learning to trade I was very angry. I did nothing but lose money for three years. All of my education and training outside of the markets did not help me because I was trying to apply the rules of success in life to success in the markets. It was only when I was able to take a really good look at myself, realize that I was not perfect and that I had to make my own rules that I started to make money. It was the most brutal and challenging thing I have ever done in my life. For those of you who think that the inner game of trading is just mumbo jumble, I say good for you! If you are able to trade without mastering the way that you manage your emotions, you are better than 99% of the people out there trading today. I can only share with you what I have learned and you willl either listen to me or reject me and call me names. There is nothing I can do about that, as I have no control over what you say, do or think. I do know this. Trading is a brutal game. Those who are struggling with it tend to be the most angry and frustrated. As you progress through the stages of trading competence, you do reach a point where you change internally. You become in humility and gratitutude for what you receive from the markets. You become elevated mentally, emotionally and spiritually. This has been my path and I would like to think that it is the path of everyone, but I am not so sure about that. So, if you hurl invectives at me, I will return them with love and kindess. I have nothing to prove to anyone. I have already proven to myself and, in the end, that is all that matters. Thanks to each of you for your great posts! Doctor Janice

DROWING IN DENIAL Janice Dorn, M.D., Ph.D. The Trading Doctor Nothing is easier than self-deceit. For what each man wishes, that he also believes to be true . . . Demosthenes (statesman and orator of ancient Athens) Why do we run from our own truth? What makes us close our eyes and bury our heads in the sand rather than confront what appears to be a harsh reality? Why are we compelled to cling to dysfunctional relationships and losing stock positions in the midst of increasing drawdown of our mental, emotional, physical, financial and spiritual capital? We do this because we are driven by hope. We behave in a certain manner because we want to believe that, somehow, somewhere, sometime, things will get better. We refuse to cut losses in our personal lives and portfolios because it is an admission that we are wrong; that we can't make good decisions; and that we will have to say goodbye again. The final saying “goodbye” to someone or something for which we yearned, lusted and made our own is painful. We cherished this as a possession, believed that everything would be fine if we were a little more patient, held on just a little bit longer and kept doing everything we could to make it right. With each passing day, we were dying, slowly, inside. As a psychiatrist and trading coach, people have been coming to me with "problems" for nearly 30 years. They have many challenges, including bad jobs, hideous and abusive relationships, childhoods from hell, depression, self-destructive behaviors, addictions, compulsions, anxieties, phobias and the devastating consequences of undisciplined, risky and inconsistent trading. It's always about what's wrong. After all, why go to a shrink or a trading coach if things are wonderful? Why celebrate the positive aspects of one's life when there is so much misery and despair? Why bother to take personal responsibility when it is easier to remain in victim mode? My writings about the market were born out of these experiences, strengths and hopes -- both yours and mine. No matter what, we are always determined to "fix" the problem; to make the pain go away; to stay with the losing relationship or the underwater position because we "know" that everything is going to be fine if we just keep working on it. It will be OK. The person we love will change and the stock will come back. Forget about the fact that it is ruining our lives, so that we can't eat, sleep or exercise properly and can't remember the last time we felt any semblance of serenity or joy. Just deny that the whole thing is happening and everything will, like some magic trick, turn out just fine. Won't it? One of the saddest lessons of history is this: If we’ve been bamboozled long enough, we tend to reject any evidence of the bamboozle. The bamboozle has captured us. Once you give a charlatan power over you, you almost never get it back . . . Carl Sagan, (American Astronomer and Astrobiologist) Years ago, I bought many thousands of shares of a low-priced stock because I became convinced that it was the next best thing to sliced bread. I paid no attention to anything I read or heard because the stock was being touted continually by a trader guru whose opinion I respected. It made no difference to me whatsoever that the company had less than competent management, massive debt, no revenues and one of the ugliest charts on the planet. I had grown, fostered and nourished a belief that this was going to be the big win for me. I truly believed that I would get in on the ground floor and then watch with delight as Wall Street finally noticed what a groundbreaking product this company had and that the stock would start going up and up. Visions of a ten or twenty bagger infiltrated my brain and made themselves perfectly at home in my limbic system. I started having personal feelings about this four-letter stock. I loved it; knew it was going to live up to every expectation I had about it; read every piece of news I could about it; told friends that this was the next biggest and best winner and it was only a matter of time before everyone would see the beauty and power that I knew. I was there first, so no worries at all. My belief system was so skewed and distorted that I could not see the truth. I did not want to read or hear anything negative about the stock, since I was now in love with it to the tune of tens of thousands of dollars. I owned it. It was my prized possession and I felt like, in some way, I needed to defend it against all naysayers. Like a marriage or a new relationship, I didn't want to hear anything bad about it. My brain was filled with the neurochemistry of new love and attachment, so please don't bother me with reality. Just like every other new relationship, stocks are entered into on hope. I will spare you the details of the emotional roller coaster I rode with these stocks for over two years. Not only did I break every rule of investing and trading, but my mood swings were seemingly out of control. Graphically, it felt something like this: The worst lies are the lies we tell ourselves. We live in denial of what we do, even what we think. We do this because we're afraid. We fear we will not find love, and when we find it we fear we’ll lose it. We fear that if we do not have love we will be unhappy . . . Richard Bach I have omitted the moaning, wailing, gnashing of teeth, pulling of hair, screaming at the computer screen, and blinding migraine headaches, but you get the idea. In retrospect, it was two years of sheer madness. What started out as adoration morphed into desperation, disbelief and sheer disgust. The last week of this sordid affair, I sat in disbelief as the stock lost nearly 30% of its value. That was it. I simply could not take it any more. I was sick and tired of being sick and tired. I refused to endure one more minute of this. I was too good to suffer any more. I could no longer sit in misery and hope and wait for the market to throw me a bone so that I could get all excited and happy again. It was just simply too much torment and I was no longer taking responsibility. I was letting the markets dictate to me how I would feel that day. I was allowing the markets to exploit every aspect of my personality that would cause me to be weak, tricked and off balance. Denial ain’t just a river in Egypt…attributed to Mark Twain I had to get my head out of the sand, get out of denial and SELL. Tens of thousands of dollars vanished into the market abyss. Two years of mental machinations and emotions which covered the entire range of any "feelings" chart I had ever seen also vanished. I bought with hopes and dreams and sold with despair and defeat. I ran screaming into the other room; then, suddenly, I felt a sense of utter calm and tranquility. I was free from the daily suffering, from the agony of thinking I knew something when it was really about how much I did not know. I was no longer a prisoner of brain scramble, endless tormenting of self, and the depletion of personal energy. By taking action, I stripped through the denial and magical thinking. I took personal responsibility, empowered myself and gained great courage. Yes, I have scars and wounds which I cherish because they are there to remind me of hard fought times and lessons learned. It is idiocy to hold and hope, and bravery to admit you are wrong and get out before it's just gone too far. This experience is etched in my brain and written on my soul. I shall never forget so as not to repeat it. I committed every one of the mistakes a trader could possibly make! I drove myself into a state of almost complete mental, emotional, physical and spiritual drawdown. I broke my cardinal rule of "Don't Lose Money, Cut Losses Quickly!” I held on because for some reason I could not get myself out of denial. It was only when the denial lifted that I felt both courageous and free. I faced the truth and got out of hope and fear. Through this brutal experience I learned lessons which I teach to others daily. I know what it feels like because I have been there. I know what courage it takes to play this great game and to rid yourself of false evidence; to stop playing ostrich and to deal with the absolute truth which is staring you in the face. In the markets, as in life, the only way to grow and preserve yourself is to get rid of what is not working for you. It doesn't matter if it's your relationship, your house, your car or your position in the markets. If you do not have the courage to cut your losses, they will fester and take you down with them. To see and know in your heart what is right, but to not do it, is a complete lack of courage. To be courageous is to do, in the face of seemingly overwhelming obstacles, what must be done. Courage is getting out of denial, admitting you made a mistake, and taking personal responsibility. Courage is freeing one’s self from the shackles of lies, hopes, dreams and white picket fences which are built upon shifting sands. Courage is listening to the voice inside of you and following your heart, which never lies to you. Only in knowing what is false does one come closer to the truth. Courage is the eternal and heroic struggle to find and face your authentic self. Look it squarely in the eyes and know that you are now becoming the person you want to be. Many of you spend your entire life running from the mistaken belief that you cannot bear the pain. But you have already borne the pain. What you have not done is feel and see everything you are beyond that pain...Kahlil Gibran (artist, writer and poet) Until next time Good Trading and Brain On! Janice Dorn, M.D., Ph.D The Trading Doctor © Copyright 2007 – Janice Dorn, M.D., Ph.D. – Ocean Ivory LLC. Dr. Dorn is a psychiatrist and futures trader since 1996. She has written over 400 articles on Behavioral Trading and has coached over 600 traders. She will answer questions about trading neuropsychology. She may be reached through her website: The Trading Doctor

Hi Walter, If you have a system and a plan that works for you, and you are happy with it, then stick with it. Everyone is different in the way that he or she thinks about trading and life. Keeping it simple is great. Sleeping well and taking time to relax is part of maintaining physical and psychological capital. Good for you! Keep going! Thanks! Doctor Janice The Trading Doctor

Moving this from Trading Psychology to this thread: A question about the qualities of superior traders. Here is the post: Thank you, Cooter! I would rank discipline right up there with personal responsbility. Disicpline includes the ability to stick to a plan and not be hijacked by too many destructive emotions. It includes the most important aspect of capital preservation which is cutting losses. This implies that the trader is not so biased and fixated on a certain belief system. He or she is very flexible and is able to cut losses when the position goes sour. So many traders do not have this ability, as you are well aware. The inability to admit mistakes and cut losses coupled with the common practice of taking profits too soon ( cutting winners and letting losers run) is part and parcel of trading discipline. Also, I will discuss later other aspects of capital preservation, since capital is not just financial. Capital is your energy-- financial, mental, emotional, physical, and spiritual. Drawdowns drain each of these types of capital. Thanks! Doctor Janice janice@thetradingdoctor.com

Thank you, Cooter! I would rank discipline right up there with personal responsbility. Disicpline includes the ability to stick to a plan and not be hijacked by too many destructive emotions. It includes the most important aspect of capital preservation which is cutting losses. This implies that the trader is not so biased and fixated on a certain belief system. He or she is very flexible and is able to cut losses when the position goes sour. So many traders do not have this ability, as you are well aware. The inability to admit mistakes and cut losses coupled with the common practice of taking profits too soon ( cutting winners and letting losers run) is part and parcel of trading discipline. Also, I will discuss later other aspects of capital preservation, since capital is not just financial. Capital is your energy-- financial, mental, emotional, physical, and spiritual. Drawdowns drain each of these types of capital. Thanks! Doctor Janice janice@thetradingdoctor.com

If you want to listen to me and have time, I will be on the the radio program entitled "Wake Up America!" Friday, June 1 at 2 PM EST. You can listen live over the internet by going to Free Market News Network and click on Listen Live to Wake Up America. The topic is Personal Responsibility. Personal responsibility is critical in trading. There is always someone or something to blame. The top traders take complete responsibility for their thoughts, feelings and actions. Also, regarding my credentials, please feel free to look at my site The Trading Doctor and ask me any questions you wish. I am pleased that we have such a great group here and hope to be able to add some value to the way that you think about thinking about trading. Thanks! Doctor Janice The Trading Doctor

Thanks for the welcome, everyone! Part of a trading plan- a critical part- is to have profit goals. They may be daily, weekly, monthly, etc. You set these goals based on your business. Trading is a business and is treated like a business. Everyone is different in what he or she needs to make in order to live at this or that lifestyle. If you make your profits for the day, then stop trading. It is not a mistake to take profits if you have made your target. It is a kind of self-delusion to look and say "I could have made more" or "It was a mistake to take the profits and go when there was so much more there to take." Some days, you will be blessed by the markets to receive more than your goal. Be grateful for that and do not tempt the markets. Many traders do really well in the morning, get a bit euphoric and keep trading ( even when they have made their daily goal) and give it all back in the afternoon. This might not happen every day, but it happens a lot. Trading success is a marathon, not a sprint. Making money is highly rewarding and tends to reinforce dopamine pathways which lead to wanting to make more money. This can lead to overtrading, overleveraging, taking more risk, etc. The most important thing is to have a plan for what you need to make, and stay with that plan. If you are ready to go to "higher levels" you need another plan with well defined parameters. There is a lot more to say about this, but bottom line, everyone has different needs and wants. Also, remember that the markets will humble everyone, so it is best to stay out of hubris and in gratitude. I will not bore you with homilies about pigs getting slaughtered. You all know that. Greed is good, but it must be tempered with a sound trading plan and trading discipline. Thanks! Doctor Janice The Trading Doctor

What do you mean by go to a higher level? How are you doing at the level you are on at the moment? Are you winning more than you are losing? Are you thinking that you can change markets and that will bring you more money? Are you consistently profitable and want to increase exposure. Each person is different and the words "higher level" have different meanings for everyone. Are you struggling with psychological aspects of trading? Are you trading mechanically? Are you making the same mistakes over and over and expecting diffferent results, so you want to change markets or entities traded? No two trading brains are the same. Words mean different things to different people. Each person sees the markets through the hardwiring of his or her unique brain and perception. So- before I would even think of giving direction to you , Knyyt, I have a lot of questions to ask you. Do not go headlong into an unfamiliar area, be in or out of the markets. There is no Holy Grail except that which you find within yourself, i.e, your own personalized trading strategy and plan. Just to let you all know, I am not one for self-help books of any kind. That is my opinion from over 25 years as a psychiatrist and twelve years of trading and coaching/mentoring. Before you all jump on me and tell me that this or that book helped you, I am aware that there may be pearls of wisdom in such books and that there are people who cherish this or that self help technique. Some of them work-- they really do. But, just like in trading, the self-help that works for one person may not work for another. Each of you is unique. Use that uniqueness to guide you in your trading and your lives. It is the greatest gift you possess as it is the gift you give to yourself from yourself. Thanks! Doctor Janice The Trading Doctor

Excellent comments and good to see that you are thinking! It is critical to know your time frame and to trade from that time frame. THere are so many different market opinions, many of them based on the timeframe of the chart being discussed. Scalpers work on different time frames from day or swing traders who work on different time frames from "investors." So, always know yourself, i.e. what you trade and the time frame in which you are trading. Also, if you do not have a trading strategy AND a trading plan, I strongly suggest that you work on one as soon as possible. Trading without a plan is like driving blindfold in rush hour traffic in a car with no breaks. Or worse! In any case, always plan your trade and then always trade your plan. That sounds simple ( and it really is pretty simple) but it is not at all easy. Good remarks from all...Keep them coming! Thanks! Doctor Janice

XIN) 1st Ld: China raises stamp tax on securities to cool stock market BEIJING, May 29, 2007 (Xinhua via COMTEX) -- China will raise the stamp tax on securities trading from the current 0.1 percent to 0.3 percent beginning May 30, the Ministry of Finance said Tuesday night. An official with the ministry said the tax rise, which has been approved by the State Council, or the Chinese cabinet, is intended to help promote the healthy development of the securities markets. The government lowered the tax rate from 0.2 percent to 0.1 percent in January 2005 in an effort to boost the bearish market. China imposed a six per thousand stamp tax on stock transactions when its stock markets were created since 1990. The tax rate was later readjusted a couple of times. China has collected more than 100 billion yuan (some 12 billion US dollars) in stamp tax on stock transactions since then. Copyright 2007 XINHUA NEWS AGENCY. Doctor Janice (The Trading Doctor)

Markets move because traders trade. Markets are neither bullish nor bearish, rather it is the combined emotions of over six million people which leads to conditions of either bullishness or bearishness. There are permabears who are always bearish and permabulls who are always bullish. The best traders go with what the market is telling them. The best traders leave any preconceived notions about the market somewhere in the far far distance. The best traders take advantage of what they see right in front of them. This is another way of saying: Trade what you SEE, not what you THINK!