"... I've broken it down into kind of an overall view. Because I don't think it's just enough to give people a bunch of numbers, and things, and here's a system. Because my sense is you get a system, or some parameters to trade with ... and you think you're a great trader. And you're not. And I'm not. Because really being a great trader takes more than just having something mechanical to follow. Being a great trader, means that you have to understand what's going on. Because whatever is going on now, will be different than anything the past. And anything in the future, will not be exactly like now." - Larry Williams
Welcome to the Week in Review!
Yes, I have used the above quotation before in a blog entry. But quite frankly? It's that good of a quotation.
It's so applicable, to the environment that we find ourselves in. Because it is important to understand why data may be valuable, and why data may not be valuable.
For example, lately I've been hearing from numerous sources, that you cannot use unemployment as a guage to economic recovery. Why? Well, such recovery proponents claim that in previous recessions, the actual economic recovery started first, and then employment lagged behind that recovery. And that's true. It did.
But is that relevant to what's going on today? Why did that happen in previous recessions?
After a review of the markets? I discuss the importance of understanding 'why' in reference to the unemployment situation, within the following podcast ...
(Podcast Included. If you're seeing this entry elsewhere and cannot play the podcast? Click this link to go to the exact podcast entry ...)
Click here to Download this Podcast
Here is the link to video, in which Mark Douglas discusses the psychology of trading.
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Note: This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 13 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.