RM is right. Jesse Livermore mentioned this as well: "here I was sitting with my "conservative" winnings. You know what made me the big money? Sitting tight that is! Sitting tight!". BP III
Every down day is black to you pros on ET who day trade and make six figures every month no matter what...
Thanx! Honestly, I'm not sure at all regarding what comes next. I'm just focused on the very near-term, making quick hits on intra-day movements.
It had to. 300 fucking points reversal for the dow..or 2.5% I remember seeing the final closing price and I thought it was an error on my computer or browser. I coudn't beleive it. The dow dropped 100 points after the philly fed and I thought it was certainly toast for the day.
I was wondering when someone would finally ask that, and you're dead right. <b>Trigger shyness</b> is the single worst trait a trader could have, IMO. I've known dozens of traders with the crippling ailment of trigger shyness, and not a single one of them ever went on to build anything resembling a successful trading career.