CLICK HERE FOR TONIGHT'S 12 MIN COMMENTARY VIDEO IN HD
I did a 12 minute commentary video tonight which is worth watching.
It has been an interesting week for me. I had a small loss on a short yesterday. The premise of the short was actually correct and played out to full volatility overnight.
This is fairly common with my reads and is indicative of how tough intra-day trading can be. Even with good analysis, the noise of the movement makes it hard to successfully catch the moves.
That is why many traders resort to very short term scalping strategies. A few make this work but the overwhelming majority fail. Some throw around the number of 95% but I think it is more like 99%.
I said in my post last night that I am going to let my edge occur naturally.
It is becoming more and more apparent that this involves taking my premium entries and not pressing too much for the sake of trading actively.
An edge of 8-10 points per week can produce unlimited income with the correct size.
I can see myself accomplishing this type of edge but it will not be a weekly positive result If I continue to take as few trades as I have been taking. It may not even be a monthly positive result on occasion.
What matters is that I have an bonafide edge. This edge requires extreme patience and total consistency but it is there and I can quantify it.
When I used to be in sales, I would hit often hit my monthly goal on an outlier sale or sales just in the nick of time.
Why would trading be any different? The difference between winning and losing at this game is way less than many think.
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