Given our limited ability to decevie the markets, and the markets seeming unlimited ability to deceive us through suprises, rumours, panics, false move, be prepared with a Portfolio Mangement process that immediately enables us to recognize when we have been deceived.

Furthermore, when we have been deceived, this process should enable us to maintain the presence of mind and discipline to minimize the damage from adverse events and capitalize on unexpected opportunites.

To avoid being deceived, we need to be continually improve our individual strengths and weakeness in regards to our emotions, ego, hope, fear and greed, our focuesed knowledge and experience, our understanding of human nature, our understanding of each markets phase (bulls or bears), pattern, swing and volatility.

Have a well organized plan, stay focused on strategies and tactics suitable to market conditions, maintain patience in waiting for the markets to provide a qualifying high reward/low risk situation, and the discipline to execute again and again.

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