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Stop Blaming Everyone Else

Tuesday, May 15, 2018 12:15
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By Avi Gilburt  /  GoldSeek

While most of the articles I write are focused towards the Elliott Wave analysis we practice, there are times that something comes to my attention which almost begs me to write publicly about it. This article is one of those that beg to be written.

I have written many articles in the past which provide general advice to traders and investors. Some of the articles I have written warn investors of the evils of using leveraged ETF’s inappropriately, or entering a trade or investment without a plan, or not using stops, etc. As I have said before, after running a trading room with over 3500 members for 6 years, I have certainly seen it all by now.

Moreover, I have also written many articles trying to explain why the metals market is not as manipulated as many are led to believe. While there is a certain amount of manipulation that does go on, which is why we have seen some of the fines being charged to certain banks, this type of manipulation is not going to cause you a large loss.

As I have written in the past:

“You see, the manipulation dealt with in these cases were attempts by these banks to move the market by a very small percentage in order to make a quick buck off a very small move which they attempted to control, often during low volume periods of market action. This is what is claimed within the actual legal complaints filed against these banks, which generally provide that the banks “manipulated the bid-ask spreads of silver market instruments throughout the trading day in order to enhance their profits at the expense of the class.”

Moreover, and quite importantly, this type of small degree “manipulation” occurred whether the market was going up or going down, and such manipulation was not geared towards only dropping the market lower, as the manipulation theorists want you to believe. Please read that again. It was not claimed in these lawsuits that the manipulation had the purpose of taking the market down as you have been led to believe.”

If you care to read about it further in detail, the full article is here:

Was The Metals Market Manipulated To Drop From 2011 To 2015?

So, when I see an analyst get caught on the wrong side of a metals move and then claim that “the banksters often try to shake traders out of their positions so they can steal their shares,” I get quite angry, as the analyst clearly got caught being long when the market dropped, and then chose to be dishonest with his subscribers.

You see, too many use the excuse of manipulation to blame someone else for their lack of knowledge or understanding about the market, or their bad trade. While it is certainly easier to blame the big bad banks for a loss rather than tell subscribers that you screwed up, it is still extremely dishonest on so many levels.

So, I decided to write this article to add one more piece of advice to traders, investors and analysts: MAN UP!! It is no one else’s fault when you lose on a trade. It is your fault when you lose on a trade. And, the question then becomes what are you going to do about it?

And, if you chose to follow an analyst, you had better make sure he lays his plan out before you enter the trade. Again, you must know where your entry is, your stop out is (in case the trade goes against you), and what the target is when you will take your profit.

In other words, you must have a plan. For, as Ben Franklin once noted:

By failing to prepare, you are preparing to fail.”

And, if the analyst you follow does not have a plan, then you may want to consider whether it be appropriate to continue to follow that analyst, especially if that analyst then attempts to blame someone else when they get it wrong. That is both bad analysis and dishonesty all rolled into one trade.

So, if you chose to enter a trade without a fully laid out plan (whether you are following an analyst or not), don’t blame someone else when it does not go your way. It is only your fault. Learn what you did wrong, and correct it in the future. But, for heaven’s sake, take responsibility for your actions. It is your money, and no one is going to care about your money more than you. So, it is your job to protect it.

Avi Gilburt is a widely followed Elliott Wave technical analyst and author of ElliottWaveTrader.net (www.elliottwavetrader.net), a live Trading Room featuring his intraday market analysis (including emini S&P 500, metals, oil, USD & VXX), interactive member-analyst forum, and detailed library of Elliott Wave education.

http://news.goldseek.com/GoldSeek/1526385660.php

More great articles here: http://goldseek.com

 

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Total 3 comments
  • Andy

    if you’re gambling on the stock market you have much much more than you need and your continuing greed is self evident – if you get burned on the stock market, so sad too bad

    take no more than you need, for when you do so, you take that which others in need can no longer access (because you have it)

    i’m so looking forward to humanity reaping as it has sown – rape, pillage, plunder, pollution, war, death, destruction & waste on a GLOBAL scale & even beyond into space

    can you sow apple seeds and reap frogs? absolutely not – humanity can ONLY reap as it has sown and so shall it be

  • AlwaysOntheRight

    Good advice for anyone on BIN…

    BEcause it is always either the Elites, NWO, Globalists, Jews, Jesuits or Deep State

  • LegalNameFraud

    The #LegalReligion of the #SatanicMasonicLegalDeathCult #UNMercyFullMirror #GuiltByAssociation #Isreal

    #Journalists #Movie #Spotlight(2015) #911 to cover #Pedo-Files / Birth Certificates, #Paedophilia / #ContractingWithMinors
    #Priest in Spotlight when confronted with paedophilia charges; “You must understand I did not take any personal pleasure from it…”
    #TheRiddleOfTheSphinx ( #sphincter) and #creation of #Demons https://soundcloud.com/st-le-ehyeh-asher-ehyeh/solved-egyptian-secrets-the #BoysWomb = #Spiritual, #Girls #Physical.

    #ThePost #Legal and #lawful #Fact; I.D.s Illegal. #NewsANCwhores INK INCwhores you’re doomed for blocking the river of Truth. BCCRSS = #TheLaw #BCCRSS It’s illegal to use a legal name. #GuiltByAssociation #SatanicLegalDeathCult

    Read the BCCRSS here. + shocking picture proof ‘educated’ artists have been warning humanity for centuries…..
    https://mineyebook.wordpress.com/2018/01/31/d-duck-tapes/

    Picture enclosed in this….post;

    Signing of the Constitution of the United States Sept. 17 1787 Painted by Howard Chandler Christy in 1940

    Use Apache OpenOffice to interact with images from D Duck Tapes…..

    instructions enclosed in each file, High Resolution, 3000% zoom

    Use + – on keyboard for zooming in area where you want to explore;
    Right click on picture
    In pop up menu point to Flip > Click Vertically
    In pop up menu point to Flip > Click Horizontally….

    Right click painting, point to Arrange > click Bring to Front
    to position painting in front of OpenOffice-drawings….

    Right click picture, point too Arrange, click Send to Back
    to re-position painting behind drawings….(Drawings are stationary, flip painting behind them for “Vertical Integration”)

    The fact the old masters used astrology/constellations ‘Stars’, and lines, ‘Stripes’, to navigate and mirror, to integrate and convey

    the story in their paintings gives you a new dimension to the Art of painting, photography, City Planning (Maps) etc.,

    showing throughout millennia a consistent stream of warnings regarding The Beast, the Legal Religion,

    the Triple Crown Corporation; City of London, The Vatican, Washington DC, Church/Court/State Pedo-Files paedophilia;

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