As the year end is approaching and trading volume is getting thinner and thinner, I can see a lot of folks getting nervous and restless, looking for some shot in the markets. The usual scenario is they wind up whip-sawed, being stuck in non-moving markets, with floor sharks going after their stops.
Folks. One of the best rules anybody can learn about investing is to do NOTHING, absolutely nothing, unless there is something to do.
It seems that most people always have to be playing; they always have to be doing something. They make a big play and say, *Boy, am I smart, I just tripled my money.* But then they just rush out and have to do something else with that money. They cant just sit there and wait for something new and real good to develop.
I dont know how to stress this more; unless you have a great deal of conviction when you put on a trade, dont you bother doing anything. And if that helps, dont think of yourself as a trader, think of yourself as someone who waits for something big to come along. Otherwise you ll be history soon. Dont become just another statistic number.
Tom out