10:11 So like Iâm just sitting here waiting â waiting for one of the already mentioned âimpulseâ moves. Of course itâs a drag, but I have convinced myself that it is best to wait. 10:31 The waiting continues. I pass the time by browsing margo traderâs journal. Have you ever noticed that she trades just like a girl? Her journal is so... so neat and orderly. Nice little lines and doohickeys here there and everywhere. A place for everything and everything in itâs place â yuck! And itâs all planned out: âIf A happens, Iâm going to do Bâ. What fun is that? No spirit of adventure. No element of surprise. GIRLS! Who can figure them out? I mean like she will never know what trading is all about. Putting on a position that you just know is wrong. Expecting to lose your butt. Fully expecting to be dumped, bloodied and bruised, along the Road To Riches, only to have the market turn and hand you a little bit of a profit. Yes sir, thatâs trading. But the waiting continues. I am sure that I am doing what is in my best interest. The elusive âimpulse moveâ is nowhere to be found. 11:00 Iâm still waiting. Maybe something will develp this afternoon.
01:23 âGood things come to those who wait.â Thatâs what my Mom always said, (along with something about going blind) and my Mom wouldnât lie. So I am still waiting. Since I have nothing better to do, I ran a search on ET for âsnake oilâ. Got 2,659,887 âhitsâ. Reading through them all will certainly give me something to do now. 01:47 About a third of the way through the search results, I realize that virtually every thread ever started on the board contains a snake oil warning. I could use some of that oil to rub on my ass, as sores are starting to develop as I sit here still waiting for the elusive âimpulseâ move. 02:01 Sld @892 ¼ Reading through the search results is interrupted with the long awaited impulse move. After giving 6 ticks of profit, a retracement back to the entry stops me out at BE. 02:34 Sld @889 1/4 So much for the âimpulseâ. Near despondency, I enter a new ET search for ânewbie needs helpâ, only to be interrupted yet again. Itâs another head-fake, but this time I manage to grab a 1/2 point profit. Meanwhile, my CPU is starting to belch smoke as the new search continues. My hatred of losses has cost me dearly â both trades would have met my three-point objective, with minimal heat. But how was I to know that? Iâve been such a good boy in waiting for the right situation to set up, donât I deserve some credit? The Keltner Channels have been a remarkably good aid in helping me to understand when to look for short skirt setups. But my reward for being only kind of good is puny by any standards. Sensing that the pulse is weakening on this impulse move, and wanting to preserve my unprecedented third consecutive winning session, I am just about to pack it in when... 03:04 Sld @883 ¼ So near, yet so far away, I settle for a gain of +1 ¾ points. While there could still be one more push to the downside, I decide to pack it in for real this time. 3 RT / +2 ¼ Points 2 Winners / 1 BE
What kind of a fool do you take me for? I think that 7, perhaps 8 would be prudent, but 10 can wait for five winners in a row.