A major mistake made by most investors and traders is to try to call every market turn. This tactic has very little chance of success. Not only is there a tendency to lose perspective/ but most of us operate in cycles, alternating between winning and losing streaks. In attempting to call every trend reversal, we invariably lose our objectivity and lose touch with the markets. It then becomes only a matter of time before we are pushed off balance psychologically. Trying to call every market turn also increases the temptation to act on impulse rather than fact. Decisions that are made infrequently are much more likely to be more thoughtful and reflective. Deliberation gives us a far greater chance of being successful than trying to call every twist and turn in the market. Investment Psychology Explained, Martin J Pring