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Master the Language of the Market! Brett N. Steenbarger, Ph.D. A version of this article was rejected from a Website that I sent it to. Seriously. It's come to my attention that readers are having a difficult time deciphering advertisements and newsletters in the trading media. Some of the phrases used in these publications are obscure and in need of translation. Below is a handy guide that will save you considerable anguish and capital when you're encountering your next breathless promise of the holy grail. Phrase Translation The market may rise (fall), but... I don't know... On the other hand... I need to spout an opinion, but I don't know... In my opinion... I have no statistical evidence... My secret strategy now on sale for only... I need money... Get rich quickly!! I really need money... Positive affirmations (attitude, beliefs) when you're losing... Denial... We need to break resistance at 1200 to move higher... I'm afraid to go out on a limb... (The author) has learned from market experience... I lost my money... A sure-fire technique... I have no verifiable track record of results... X consults to many traders and firms... I am unemployed... This offer is for a limited time... I need the money now... X is a well-known guru (writer, teacher, trader, etc.)... I am not well-known; that's why I'm telling you who I am... Economic (political, earnings, etc.) news indicates... I don't have enough material on the market, so I'll write about something else... Free trial (information, advice, etc.)... Please get on my mailing list... X has years of trading experience... And I still have to scramble for customers to make ends meet... I will help you with discipline (focus, confidence, planning, etc.)... I can't help you with actual trade ideas... The market is 90% psychology... I have no objective edge in the marketplace... And finally...Brett Steenbarger, Ph.D. is Associate Professor... I can teach, not do... Bio: Brett N. Steenbarger, Ph.D. is Associate Clinical Professor of Psychiatry and Behavioral Sciences at SUNY Upstate Medical University in Syracuse, NY and author of The Psychology of Trading (Wiley, 2003). As Director of Trader Development for Kingstree Trading, LLC in Chicago, he has mentored numerous professional traders and coordinated a training program for traders. An active trader of the stock indexes, Brett utilizes statistically-based pattern recognition for intraday trading. Brett does not offer commercial services to traders, but maintains an archive of articles and a trading blog at www.brettsteenbarger.com and a blog of market analytics at www.traderfeed.blogspot.com. He is currently writing a book on the topics of trader development and the enhancement of trader performance.
