CLICK HERE FOR SEPTEMBER 16 TRADES 1 and 2 VIDEO. FIRST TRADE IS SHORT INTO INSIDE SUPPORT THEN QUICK COVER AND REVERSE LONG. ADVANCED SEQUENCE.
I did not have any trades today. I had a good read on the market this morning. The symmetrical triangle I projected on the prep was close to what actually happened.
I do not trade trend lines. Even if I am extremely accurate in premise. They just do not have the same propensity to hold as legitimate support or resistance.
I needed confirmation on premium setups today and I did not get it. I strongly felt the short at open would be good but had no confirmation.
I am tempted to take these but I suspect if I make it a plan to look for gut shot entries like that I will mis-read too often.
It was a good day to stand aside.
I have traded well for the past few weeks. My only mistakes have been missed opportunities. They were costly but can be corrected by not hesitating and trusting my initial read.
In the past 3 weeks, there have been 3 days where good opportunities were missed, 3 days that were home runs, and 2 days that had moderate losses. The rest is pretty much a draw.
This is common in trading. It is often that 1 day will make your week, 1 week will make your month, and 1 or 2 months will make your year.
This is important to keep in mind. Trading is a marathon and not a sprint. It does not matter how well or poorly you perform in any individual sample.
This is a game of betting, confidence, perseverance, and hardship. Nothing more.
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