Before you think I am being braggadocios, remember I am a humble student…
I am seeing a lot of emotionalism in the market by the twitter participants.
Taking a step back, trying to make sure I don’t get caught up in it.
As a sequence trader, I have my beliefs about the day’s bias, stops, targets.
When I am wrong, so be it.
I was challenged by an experienced trader…when I said my bias was neutral, as I should be.
[09:25] E: i am not bull
[09:25] E: i think need caution overstaying short
“Be neither a Bull nor a Bear, but a seeker of the Truth.”- A. Elder
Our bias reflects the trades we take or don’t take; our stops protect us when we are wrong.
Sway is one of my favorite books on Psychology. The more we create a bias, the more we feel a need to defend that idea.
Remaining neutral and unemotional is the hallmark of a good trader, a good athlete, a good business owner.
The rip your face off crowd is always there…but disciplined traders know how to beat that game. Accept stops, then play at the new level. If there is better risk reward and timing dictates a bounce, shorts should not hesitate to flipperoo.
Knowing where and when the likelihood of the rotation is coming is advanced thinking. It is like the chess player who thinks four steps in advance, rather than one.
A defensive baseball player who already is deciding what to do with the ball if it is hit to him with runners on base. What’s the score? Inning? How many outs? Who’s up next?
Boolean Logic anyone?
Let’s talk Turkey.
Longs wanted 1327 etc. Ball deep in their court today. Unless they find the alley or hit a lob shot deep, why believe they have the advantage?
Yes, the net moves. Today the net was at 18.75… Shorts hit it back…staying at the net until you get it past.
The high odds trade played out today, and then some. I made an observation to our members, and showed them visually how I was calculating the 13.5 target. We also did it mathematically. My preference is to see visual chart ideas that corroborate the math.
Thirteen Angel said come and get me.
There are tons of good traders on Twitter. I try to learn from all of them.
What I don’t want to do is feel I have to compete with any of them, any more than I would with a maniac weaving in and out of traffic on the highway.
My attitude is help as many traders as I can, not compete with them. No ego, no forcing my will on anyone.
Especially Mr. Market.
Overheard on Twitter:
1328, then 1332… 35… 37 target.
1304., 1295, 1290 target.
Not making fun of anyone, that’s just not my style.
…Step by step says can we first break 1310.75? 1323?
@Jediphone ty @Jedi 3.25 is t2 for today and 1.25 T1 for the week so scale out advised as we approach it… #EMWS
Bingo. 2.25 hit
If I missed saying thanks for your post or RT, sorry, it is unintentional.
Old school here…
Happy Birthday to Vytis, many more.