The other day I was trading away feeling like superman as usual. Then something happened. The market started going the wrong way! I was stupefied! All of my signals were in line. It was supposed to go my way. I was margined to the hilt because I was so sure of myself. Then the unthinkable happened. It kept going the wrong way. I sat there staring at the screen, trying to will the market to come back. It wasn't working. That's when I started using my super x-ray vision. It still didn't work.
Now I've long thought of the market as a freight train. It's momentum is hard to change. Think of 10,000 tons of steel, grain, cars, coal and all of it coming right at you. It's better to just get on the train and ride it than to try to turn it around. Trains have to plan their stops for miles. It even takes about ten seconds after the engineer has hit the brakes for the brakes in the rear of the train to respond. So what I'm saying is look hard before you bet everything on a reversal and don't get so attached to a position that you can't give it up.
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