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Thursday, September 12, 2013


The key to success is trading is identifying high value situations and pressing your edge. One gets into trouble when they enter the day without a plan, or even worse have a plan but allow their emotions to take over and the plan goes out the window! Always know where and what your edges are when entering the markets and have a plan of action to execute those edges CONSISTENTLY. Even if you are wrong, and believe me you WILL BE WRONG (we are only human) - as long as you are following your best judgment with consistency you will be okay. Generally when our emotions take over, most dangerously fear, our perception becomes distorted and what was once well planned, prudent action is replaced by erratic and thoughtless behavior.

This principle is so important, not just in trading but in nearly all aspects of life. Don't get me wrong, emotion is extremely important, but it must not be allowed to interfere with intuition and high percentage successful planning. We must know when to say no to our emotional desires. Emotions are to be in harmony with our intellect, not at odds.

Price in back and fill mode in this low vol. bullish environment. Again support zones provided high probability entries with high probability exits into interim resistance. Time did its thing in filling the higher time frame air. Only substantial air remains on the daily chart. Continue to trust support zones until broken.

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