This is what the price movement on Plexus Holding (LSE:POS) would be for the year 2013. The price is right now trading in a range (but not as the crab walks sideways until it enters a bush).
The market has trended strongly upwards from October to December 2012. Right now it moves sideways. There are upper and lower Trendlines around the price area. For the market to move further upwards, it would break the upper Trendline and close above it, while the RSI 50 period would be above the 50 level. Reverse the logic for the short side. One of the 2 scenarios discussed here would eventually happen, and that is what would be the bias for the year 2013.
Outlook: When you just began trading, perhaps beginning with $100,000 portfolio, and you turned it to 125,000 sooner, you might become cocky because of that easy market. This is a common experience of neophytes who make easy money in the markets without much trading experience. Luckily, you’d learn the truth about trading, and your feelings can be very uncomfortable if the markets aren’t moving your way. But if you can face this kind of temporary challenge – learning how to master it – changing to the correct trading mindset (this might not be easy for certain individuals), you would soon realize that for you to be victorious in the markets, your mindset would need to be different from that of the common individual. If you fail to control your dread, pride, haughtiness and prevarication, you’d not be doing yourself a favor.
This article is ended with the quote below:
“A novice trader expects that certainty can be found through better analysis or better indicators or indicator parameters. And so they get stuck for several years on this search for the Holy Grail solution. It’s only when all attempts at this have failed and they’re willing to accept it as a misguided attempt to hide from their fear of uncertainty, and are willing to embrace that uncertainty, can they take the next step on the path towards professional trading.” – Lance Beggs
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