Friday, August 28, 2009

Relax, Breathe, Have Fun!

That's what it says on an index card that lays by my computer each day (it has a yellow smiley face on it too). I started out the day with a bias to the upside based on Intel's news and the gap up. That foolish "big picture" bias cost me a good opp. It messed with my mind. "So when is it going to reverse and go up?", was the theme in my head. (Having a bias on a small timeframe is fine, and required). And then I saw a post in a chatroom I hang out in. It was referring to a trade someone had just taken. " taking candy from a baby", he said. You could see the smoke come out of my ears. My anger rose. It's a good thing there isn't anything made of glass on my desk.

Relax, Breathe, Have fun. I had to settle down and finally realize the trend was DOWN. I have to realize I won't see everything I want to see in the charts. The market can be screwy at times. It's job is to confound the most people so it can generate big volume by catching people "on the wrong" side of the market. I had to get my head back in the game.

Relax, Breathe, Have fun.
Breathe in deep, hold it 20 seconds, let it out in 5 seconds. Rinse and repeat.

I can imagine some "gap guru" reading this and telling me about how "obvious" this whole morning was. Even "like taking candy from a baby" he may say. HaHa.

Finally, the smoke stopped coming out of my ears. A couple setups became clearer. The clouds parted and the sun came out. And I fretted for what? Don't I know all the "rules" of this game...all the psychological traps and releases? Yup. But we are all works in progress. I am unfortunately human. $%&#@!

acquire the skill of Instant Amnesia.
Trust that the market "always comes around" to give you the setups you want, ....everyday. It really does. Just have some patience.

Relax, Breathe, Have fun! It works.

1 comment:

  1. Let me start by saying my only BUY signal came at 12:57 Pacific time.

    Should I take it? It is Friday, it is a volatile week, I already caught 6:50 am SHORT for a very very good profit(btw, I did not faded that gap, I received my signal to go SHORT) time to think...I got to take it, it is my signal ...but it is Friday and it is 12:57....hmmm

    Guess what - I took it. Am I an es junkie?

    I am out already, it is a break even trade, as I placed very very tight stops when 13:00 comes around...

    Am I having Fun - Yes, did I breathe properly - Yes, relaxed - not so much...


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