Dont squeeze the charmin traders
The only question is, will you fight them or join the winning team?
How do we know when high is “too high” or low is “too low”?
Whatever our pet indicators are saying, we need to protect ourselves from ourselves.
This theme is repeated often here because it is the all-important rule that saves us from our irrational behavior. I read this book to understand why someone would pay $240 for a $20 bill; something that I am hoping to avoid doing myself.
No system is perfect. Stops aren’t either. Sometimes we get stopped out and then the trade resumes in our favor. Sometimes the stops save us from minor damage. Such are the facts of life, like skinned knees and failed relationships.
You do wear a seat belt, don’t you?Â I also presumeÂ you have homeowner’s insurance.
Although we hope to never have to need these safety nets, we use these tools to protect ourselves from catastrophic events from which recovery will be difficult.
Today’s early morning continuation high was a classic case of gap and trap both sides.
Many chat room leaders forget that “sideways” is a direction that catches many novice traders who over-react to news events likes today’s beige book report. Gullibly, they blindly follow the emotions of the room leader, and areÂ usually a step behind the market.
Here is another expert worth studying; integrate their ideas intoÂ your own workable system.