Some times trading can be very emotional. Last week I spoke to many traders who said last week was their worst week in months. One guy who I know made 40k last month and lost 11k last week trying to figure out this crazy market.
I am glad I went away and cleared my mind because today proved to me that rest, patience and strict discipline is the only way to win in this career. I told myself I wouldn't trade and ended up trading futures today. I was down $2500 on my first 3 trades but ended +$4900 for the day by not panicking and sticking to discipline and observing strict stop discipline.
A $7500 turn around is not something to sneeze at in futures! not like I am trading huge volume. What I am trying to say here is - you will never have 100% winners, some days the market will just kill you to make you quit or make you find a new strategy or stick to your strategy. I hope most of my trading friends did well today and not let last week roller coaster market get them out.
Olympics are on folks and sorry I am a HUGE Olympics and world cup soccer fan so sorry if the entries on the blog are few...
Monday, August 11, 2008
Powerful move here
this is a very powerful move in the markets. Slow grind up without any extreme readings is very very powerful
S&P target
1304.50 here- lets see if we lift higher.
Oil seeling off giving the market some upward lift here
Oil seeling off giving the market some upward lift here
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