Each successful trader has something extraordinary

[Overnight]

7. Self-fulfilling Prophecy

Definition is correct but this is nonsense.

"Interesting Fact : Economic Recessions are self-fulfilling prophecies. Because a recession is 2 quarters of Gross Domestic Product (GDP) decline, you cannot know you are in a recession until you are at least 6 months into one. Unfortunately, at the first sign of decreasing GDP, the media reports a possible recession, people panic and start a chain of events that actually cause a recession."

The same media that so often gets it wrong, economically, gives itself too much "credit" for what happens next.

That's something Trump finally got correct. A couple years ago he sent out a tweet about that exact same thing...How a recession is self-fulfilling the more and more people start to believe in it.

 

[SunTrader]

That's something Trump finally got correct. A couple years ago he sent out a tweet about that exact same thing...How a recession is self-fulfilling the more and more people start to believe in it.

Then you didn't read what I posted, if you believe that?

That's ok - two people make a market.

 

[Hellbringer]

That's a pretty interesting thought, I didn't think about it from that point of view. Often beginners don't understand how important it is to trade according to the plan, and they start working in the market without having their own strategy. It is impossible to make money on the market without a systematic approach and it is proved.
Due to unpreparedness, there will be constant uncertainty in their actions, which will naturally affect the result of trading.
A trading strategy is needed first of all for quick and correct decision making. Following the trading plan, a trader trades calmly and confidently, making notes about purchases and sales in the trader's journal. And it is important, in the future, using the journal, a trader analyzes his trade, looking for weaknesses of the strategy and adds something new. After all, everyone knows that markets change with time and the strategy must adapt to new conditions in time. In case of automated trading, if there is no strategy, then the trading robot is out of the question, because it is the trading system that the programmer writes its robot algorithm.