Traders know less about the future than they think they do. And if the trader knows she does not know, she thinks someone else does.
It's why you hang onto every word of woefully inaccurate CNBC pundits. It's why you love and hate Cramer. It's why you follow 3654 members of the Twitterati.
Sadly, it's why you risk too much. It's why you put all of our eggs in one basket. It's why you won't get rid of that losing position. It's why you do not cut your losses. You don't like the idea that you do not know what will happen.
The one percenter understands. She knows that she does not know. Rather than trying to predict, she reacts. She understand probability. She understands risk.
I am the exception. That is why I have a trading service on Bullsonwallstreet.com. I have a crystal ball.
Okay, so I can not predict the future. However I still make money trading stocks because I know that I do not know.
Subscribe to The Market Speculator by Email and never miss a post!
If you would like to learn more about how I trade, receive my nightly focus list with market analysis, setups and trade alerts, sign up for a 14 day free trial at BullsonWallStreet.com.