In the middle ages, people believed in the Art and Science of Alchemy. The Alchemist had the ability to
turn base metals into Gold. The novice inestor, with eyes wide-open believes he or she can easily turn the smallest amount of money into a Bill Gates sized fortune. Daytraders are in fact often working on nothing more than
a hunch. They are in fact gambling on a stock, like the would a race horse.
Superstition and the Stock Investor, is not often discussed, and thought impossible, after all we are all rational people! However, many people over the years have turned to Superstition.
"When I first started Daytrading, I used two online brokers. Every stock I bought with Comsec (Commonwealth Securities) rose and I was ahead; yet every stock through E*Trade was down! It was amazing! I soon became supersitious about this!"
"I had a similar experience, all trades I made (part-time) while I was at the office seemed to fail, whereas those made whilst at home succeeded."
In the movie Wall Street, Gordon Gekko advised "Never get emotional about stock". However, people do, this is a reality. Supersitions like those listed above can often fuel the fires of emotion.
In the late 1920s, a Clairvouyant, wrote in a leading USA newspaper, her favorite stock picks for the week. Hundreds of thousands of Americans followed her predictions, right up until the 1929 Crash!
October is of course another major thing of Superstition! Many people always fear that a dreaded correction will occur in the month of October.
|
