James "Rev Shark" DePorre, a Real Money contributor, is the author of Invest Like a Shark: How a Deaf Guy With No Job and Limited Capital Made a Fortune Investing in the Stock Market. He operates sharkinvesting.com, an interactive online community that serves and educates active investors.
The important thing to keep in mind when working a trade is that we are embracing the fact that we can't predict the future.
The answer is every time there is a headline.
It's better to be part of the mindless herd of buyers than join the erudite intellectuals that will tell you why the market is wrong.
Don't try to call a market top right now. Be a fleet-footed trader and focus on short-term opportunities.
There still is no confirmation of the pessimism but you can't help but wonder if it will be self-fulfilling at some point.
It is easy to fall into the trap of dumping good positions because of weakness in the indices.
This has the same dynamic as the Greece situation a few years ago.
It is better to focus on stock picking and trading-range action rather than spend too much energy on overall market direction.
Stay focused on what is happening right now and don't be in a rush to anticipate disaster.
The only indicator that is meaningful to me is price action and my goal is to react to it quickly as it changes.
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