Focus your mind, manage emotions, go with the flow.
Thursday, January 22, 2009
5 minutes to go till end of day so time to take the $. Pat yourself on the back if you traded your plan like a machine today.
Review your trades , work on the emotional control if you didn't.
SRS
15 minutes to go so I'm not thinking about long trends. When the markets offer up nice $ I take it and play the bounce. SRS EEV SKF all th esame
SRS
SRS was stopped at that intraday res and down it goes. So go short.
EEV too
Things are choppy at the moment with no momo in either direction. At times like these you can choose to sit on the sidelines and wait for a break one way or the other or trade the quick moves and be happy with a little here or there.
SRS getting long again
Look at SRS daily resistance and how it is stalled at the same place it was 2 hours ago. If markets start to point up then probability is SRS going down.
Being quick on the trigger can pay off and keep the profits you've made and also expose you to less risk then if you waited too long. AS you see the momo change from long , short , long then get on the same side of it.
Never be married to just one direction.
SRS long
watch for a stalling out of the momentum as a place to take profits. Be prepared to trade it short.
If it breaks up towards where it stalled then jump back in long. Pay close attention to what the overall markets are doing.
SRS
The harder the markets fall the greater the upside momo in the inverse ETF's.
Many , many opportunities short and long at the moment
