A sea full of sharks and they all see blood they start coming and I start rising must be surprising, Iâm just summising win, thrive, soar, higher, higher, higher more fire I came to win, to fight, to conquer, to thrive I came to win, to survive, to prosper, to rise to fly to fly http://www.youtube.com/watch?v=LG_Qba8AZ2A
Small losses and breakevens add up, don`t they? Picking a top on a range day is different from picking a top on an uptrend day. The difference is that one is a winning approach and the other is a losing approach. I took a 0,5 point loss on a short this morning as we broke below the current 50% level, but when I saw TICK not going below zero and price quickly reversing, I quickly puked. It was then long after the opening range breakout. Unfortunately, I took it off at 3 points only to see the market continue higher. Have not seen any good shorts from there unless one is interested in scalping. 1 point lower high on this last push up. Maybe? Just not feeling confident about it.
Between 11:00 and 12:00 you didn't see any short spots?. Of course all the breakevens and small losses hurt, but if you exit small parts on your profitable position you can always have your equity near the highs or with little damage, then you catch a good one and avoid taking profits, then you are positive and can find a spot to try adding if your move is planned to extend, etc. No real secrets partner except equity protection. I told you already that if you can net 3-4 points per day or even per week, it is just a matter of time and size before you can fulfill your dreams. I'm expecting a monster move down, and I have tactics to enter countertrend with very low risk, and also with trend so that I don't miss the move. Make sense?. I hope so, because I have nothing else to tell you, except to persevere, because you seem a bit impatient. If you can trade 50 or 100 lots in 2-3 years, will it be worth it?. I think the answer is yes.
Makes sense. Why are you expecting a monster move down? That would be interesting to hear. I would perhaps try to pick a top if I had such expectations, but as this day looked like a trend day it did not seem worth my while on the run up earlier. But yeah, I can sympathize with the idea of picking tops with small risk if one expect a large move down. I do that myself at times. Just not so sure about today. If price really breaks today, I still have time to enter. I probably am impatient, but I have been far worse in the past. Improvement in that area is what makes me satisfied with 2,5 points for now instead of wasting it away on the low probability noise that is going on right now. Makes sense?
I saw Mokele swimming early on. Maybe you will learn to spot him in a few years. Make a plan of size growth with moderate to low winnings per day or per week so that you don't pressure yourself too much and stick to it. This market eats 500 lots the same as it eats 2 lots. You will be at 50-100 lots in a few years, and life will look different than it looks now. Maybe you will become an asshole like me.