If You Believe in Forever
Markets are dynamic; they have a give and take to them.
If you believe in forever, then it is much harder to accept that both sides have merit throughout the day.
As trend traders, we were cautiously optimistic about the short side. The overnight bounce was a beauty…and gave early birds an opportunityto take re entry and manage for intraday position. Entry zone was perfect for the 32 trade. I am not usually awake at that hour, but at 5 a.m. intuition came knocking and said “get up you lazy bones”.
I promised myself to use discipline today… and not post on twitter until after the market closed. As I said last night, enough good traders sharing ideas there, and I like to give input but don’t want to be a post-o-maniac.
Blah, Blah, Blah. LOL. Geez, E, give someone else a chance.
Preaching to the choir; most seasoned traders know this stuff already I assume, by one methodology or another.
Sunday night I posted on our member site that I felt we would test a 1314.75 target this week. Other traders have lower targets, but I suggested today to be conservative on both ends of the short. Use 28.75 test as resistance, and be off by 1316.5. It’s the risk /reward idea… why get trapped being a pig?
“Forever” thinking ignores the reality of enjoying the moment.
Capture profits, say yeehaa.
15:54 E: eod traders leave it be once stop hit on trailers
15:55 TC 89: great job today E
15:56 E: ty tc
16:03 TC 89: gn all
16:09 E: be well all
16:09 E: gn
16:12 Kuva La: gn all
16:12 E: 09:54 E: if we get above the 25, longs may want to try the 28.75 previous support
16:12 E: 09:54 E: so those are 2 key resistance areas
16:12 E: 09:58 E: yes any high odds traders manage now be off by 28 i think
16:13 E: 10:04 E: then if we rotate
16:13 E: 10:04 E: xxx the 16
16:13 E: 10:04 E: but cannot count on it
16:13 E: 10:20 E: more is gravy is plan
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Swayin to the music…