Key to being successful trader

'For every style of trading there will be a "perfect" market environment. When the market is aligned to the strategy that you are trading, every trade will work itself out smoothly, losses will be far and few between, and you will feel on top of the world as you watch your profits accumulate! ......Sooner or later the market environment will shift, if ever so slightly, and losses will once again begin to appear.....This constant cycle from "zero" to "hero" and back to "zero" is why i believe speculation as a business has such a high failure rate.'
The trader's ability to adapt very quickly to an ever changing market environment. Traders who flourish in a momentum market who take overnight positions in high shorted stocks and ride the squeezes and bank easy money will feel unbeatable, but once this environment that was conducive to use this aggressive strategy starts to fade, this same strategy will be responsible in taking back most of the trader's gain as he failed to recognize a market shift as the markets ebbed and flowed from momentum to choppy to correction etc etc.

As traders who wanna survive and be very good at this game, it is vital that we analyze and recognize quickly what type of market we are in. We need to be ahead of the 8 ball and never behind. The quicker you recognize the shift, the more money you will keep and make.

With that said tomorrow is the start of the 2 day FED meeting. I expect trading to be light after the first 2 hours. Don't push it!!! if you don't find a set up in the first two hours call it quits. Go cut your lawn, go some laundry, or listen to the talking heads on CNBC. After Wednesday's announcement we will have tons of opportunity

FNM

FNM back below $30.