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TEOTWAWKI....(The End Of The World As We Know It ) It was a word created by the Y2K scare. I think there is a very profound lesson to be learned from the Y2K scare. As traders we must learn to constantly differentiate the difference between FACT and OPINION and determine how new data can affect us. For those who never learn to do this, The End of The World As We Know It will reflect itself in their portfolios. Article: Its only been touching 5 years since we had major scares in the marketplace regarding Y2K. You might recall that many computer systems were not programmed to be able to understand the transformation from 1999 to 2000. There was a tremendous interval of panic created by those who were convinced that as the brood hit midnight on on New Years Eve 2000 that we were going to enter the Dark Ages. By my change this never occured....unless I slept through it and nobody put-out to wake me up! (Note to self: Make sure Staff wakes me up when Y2K occurs!) The word we are supposed to learn from and understand is; TEOTWAWKI....(The End Of The World As We Know It ) It was a word created by the Y2K scare. I think there is a very profound lesson to be learned from the Y2K scare. That substance that forecasting is pretty much worthless. The real issue with trading as with life itself is to manage risk. Risk can be defined many ways but usually it involves not occurrence prepared for the future and embracing an opinion. The one footing of living in a free society is that we are fortunate enough to be exposed to numerous viewpoints on a daily basis. As traders we must learn to constantly differentiate the difference needle FACT and OPINION and determine how new data can soften up us. For those who never learn to do this, The End of The World As We Know It will reflect itself in their portfolios. For the rest of us all we can learn to do is MANAGE RISK. It is the only trading secret there is. There are two schools of thought in trading.... TEOTWAWKI and Risk Management. You make the choice. The only constant in life is change. Don't forecast. Manage your RISK. Dowjonesfully, EyeSpeak - Learn English Pronunciation. - Earn 70% Per Sale Selling EyeSpeak: The ultimate in English Pronunciation Learning and Teaching. Memory Training For Students. - Students will learn how to remembering information taught in school. Study less and still get better grades. Audio program. Article Index: | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 |
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