Looking at the charts, volume & the RSI charts today the simple truth is sometimes the answer is there isn't one. The things we look for in charts are not lining up like normal which just might mean there isn't a pattern & no reason to trade. One of the greatest value of the programs is to tell us just to leave it alone. Walk away from the computer!!!
When you can identify three times in a day to trade AMZN for .50 cents per trade. Today we were able to see three possible trades for $.50 per share on AMZN. This in spite of the fact that it is December the week before Christmas & the market has been running between 10,250 & 10,500 on the Dow for several days now. We talk about this style dailey on Channel 2 from 8:30 to 10 AM CST & 2 to 3 PM CST. Come listen & to see what you might be able to pick up to help your trading.
Many traders give up long before it is really over. You keep working to learn market until you can't anymore. The only way you can fail is to quit.
People all excited when they look at the charts at the first part of the market or when a news event hits and a large move is reflected in the charts. What they forget is that the move is so quick as to be almost imposible to capture which leads to unneeded loses. Keep your emotions for your Christmas party.
Remember that trading is a continous journey without end. We never understand that market. We continue to findout where it is now.
When trading you can only deal with right now. You must be able to trade without yesterday's emotions causing problems today.
If you don't paper trade the same way your going to trade for real, how can you expect to make the switch successfully.
There is no magic button, secret hand shake or special strategy that solves all of your trading problems. Learning to understand the markets leads to successful trading.
Do you think that a loss is the end of the world? You just missed that perfect trade that will never happen again. There are gremlins in your computer that report each of your trades so the market can go the other way. You have missed the point. Don't worry be happy.
How many people think they have trade all the time with no plan or purpose? Do you think they get anything more done than the cricket?
