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Now, as we begin a new decade, century, and millennium, there are over 12 million investors with online brokerage accounts. A relatively small number are hyperactive "minute" traders who hold fast-moving stocks literally no longer than a minute or two before selling them. Thousands more are day traders who buy and sell numerous times in a trading session but like to close out the day flat, with all their capital in cash. |
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Thousands of others are swing or position traders who hold a stock between two and five days. Some hold positions for a few weeks or months. Hundreds of thousands of others are trading a few times a week or a few times a month. And millions more are trading only occasionally but would trade more often if they could only feel more comfortable with themselves and the whole online trading experience. |
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The Disciplined Online Investor was written with all types of traders in mind, no matter what their style or frequency of investing. And it was written as well for all those contemplating online investing but who want to test the waters without feeling so much apprehension and fear. |
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As anyone who has done any online trading knows, it is fraught with strong positive and negative emotions. Scary thoughts, doubt thoughts, compulsions, and superstitious trading rituals pervade online trading of all types. This may be verified simply by walking through any day trading room or watching individuals at home trading on their own computers. |
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Why? Because of the anxiety of having money literally on the line. Excitement, anticipation, exhilaration, and the rush of adrenaline at making profitable trades also are part of the process. |
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How can we learn to harness these emotions for our own benefit, so that we may make better trading decisions? How can we become more self-aware, more conscious of our behavior? How can we |
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