Friday, May 31, 2013

May 31

end of month, and FRIDAY, + pomo

Do you really think we can go down???????

Of course not.  Of course not. 

You should already know before the day begins we must go up.  Automatic..  It's just a matter of waiting for the break.

5 min TL breaks.  You really don't need anything else.  If it works - you get 20, 30 or more.

If you lose you lose -10 max.

Find the line.

Enter the line.  Set a stop.

Manage your stop.

That last entry actually had 130ticks but whatever.

The ability to hold is a pyschological issue.

I can't tell you how often I hear people talk about huge winners.  Except they sold for 2 points instead of 50 "for some reason".  Usually it's "got nervous".  It's always the same.  The trader beats himself.  No one trades the market.  You trade yourself.  You master yourself.  Never the markets.

Some people think their method is superior but it  isn't.  They've just mastered themselves using a system that takes into account one's own personal psychology.  Some ppl can't hold for 100 ticks but they can take 2 pts. a day. That can work.

Just figure out what works for you.  And know that you will always be your worst enemy.  Check your own internals daily like you do the adv-dec ratio.  You'd be surprised how often you can overcome an emotional issue just by being aware and knowing the action you're about to take does not follow the system you put in place to override it. 

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