Wednesday, May 18, 2005

wrong all day long

Yes, I have been. Clearly the market has more strenght than I ever gave it credit for! Wow! OK, I've switched to trend mode but several things bother me. If you get into the trend later in the day the chances of it switching are much greater. I fear that will happen today so unless the setup is perfect I won't take it. The first crossover after the trend is established is the best % trade, the second is a lower % trade and on and on... we would be at the 3rd setup if we hit the 20 ma from here. I just hate to enter this late in the day. I might just sit it out. What's important is that I will do no more damage to myself today. 3 steps.

ID the market.
Pick your setup
execute flawlessly!

Trader X

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