.59% premarket gap UP
/gc crushed -- dead dead dead.
TSLA, AIG, FSLR, YHOO, DB strong.. xlf looks strongest --
data at 8:30 -- in 2 min.
GDP 1.8% - slow....
qe talk -- pumps it up.
TLT, /zb solid -- fear is gone today.
nearing end of month.
BLOX, EPAM, ILMN -- these are the names.
THRM possibly.
IWM - gap up OVER 50 DAY ma daily -- !!
/tf -- nhod -- 9:03 964
market loves it -- can't taper with weak GDP.
over 50 day MA resumes uptrend on close above.
5 min TL breaks -- can get you everything you need.
bleh.
Why do traders say they miss trades? They didn't take it?
And how are professional traders different?
I think pros are rigorous in their routine and plan. They know what they need to see. They stick to it. So there's a lot less thinking.
An amateur spends a lot of time thinking: Should I take this trade?
They also spend a lot of time worried, fearful, bored. They take early profits because they are worried - it's not part of the plan but their plan is flexible to the point of being arbitrary. So they don't win much even when they were dead on. Even when they follow their plan -- or at least the entry part, because they don't follow the other part of letting winners run when there's no exit signal.
If you're struggling, look at what you're doing. Is it the same plan every day? Or are you changing things up a little based on little nudges from the twitter feed or a website or news channel. If you're trading price action -- all these things, your opinions, other people's opinions, are noise. So you have to have a very clear plan to focus on and you'll automatically ignore noise because it's not showing up in your charts.
But first, you have to be willing to be consistent.
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