Stock market commentary, analysis, insight and opinion of the RightLine Editors is available every Tuesday/Thursday evening & Saturday
afternoon. The following is excerpted from the:
June 27, 2017 - The RightLine Report
Notes From The Editor
The Myth: "You have to be very smart to make money trading stocks online."
The Truth: A high IQ is not required for successful online stock trading. In fact, being too "smart" can be a liability.
Why? Because most "smart" people rely heavily on their intelligence. Since they are logical thinkers, they have a hard time accepting the often illogical and irrational actions of the stock market. As a result they tend to overcomplicate matters. They try to out-think the market and attempt to predict what it will do.
This type of over-thinking and relying on predictions just doesn't work. Stock market behavior is a result of human behavior. No one can be certain what will happen in the future. Successful traders don't base their actions on predictions. They anticipate what is likely to happen, and then make buy and sell decisions based on what actually does happen.
Trading isn't rocket science. Though the skills needed to be successful take time to acquire, you don't need a high IQ to trade intelligently. On the other hand, persistence and discipline are necessary. Fortunately these two qualities are available to anyone who really wants them.
Remember, when it comes to price movement a stock can only do three things. It will go up, go down, or go sideways. Plan ahead for each of these possibilities and you can respond intelligently to whatever happens - no matter how "smart" you are!
- Thomas Sutton, Editor
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