By fxmacroguy. Just sharing.
Being a successful investor often requires you to hold numerous internally conflicting concepts simultaneously — something many the average psyche has difficulty with. One must think through the best possible analysis for your positions, and expend time and effort to thoroughly test them. You need to be able to strongly argue your postion — bullish, bearish or cash — but at the same time, be ready to admit error and change views.
When I express an opinion about a particular chart, it is most often a strongly held opinon. Keep in mind that for me a strong opinion does not necessarily equate to a trading position. Trading positions are brought about by a strong opinion PLUS a specific technical set up PLUS a favorable reward to risk relationship.
Strong Opinions, Weakly Held! What a great concept for a trader.
It sounds deceptively simple but it’s very hard to put into practice.