Greed and Fear
- Thread starter indahook
- Start date
Still long SPY @ 127.84 from the 7th
Stop 126.08
Tgt open
For me the hardest part of trading is the waiting. Sitting on my hands and trying not to trade when the market does not warrant a decision. Overtrading is my demon. Taking losses for me has always been easy. In fact taking them too fast has been an issue. I went back over my last years trades and found that had my stops been wider and I risked the same $ amount per trade my returns would have been roughly double. That hurts.
Ever evolving and expanding. Resting on your trading laurels is tantamount to rolling over dead. Sometimes you hear people talk about trading success as if it were crossing the finish line at a marathon. That makes me smile.
I dont know anything except I know nothing.
Stop 126.08
Tgt open
For me the hardest part of trading is the waiting. Sitting on my hands and trying not to trade when the market does not warrant a decision. Overtrading is my demon. Taking losses for me has always been easy. In fact taking them too fast has been an issue. I went back over my last years trades and found that had my stops been wider and I risked the same $ amount per trade my returns would have been roughly double. That hurts.
Ever evolving and expanding. Resting on your trading laurels is tantamount to rolling over dead. Sometimes you hear people talk about trading success as if it were crossing the finish line at a marathon. That makes me smile.
I dont know anything except I know nothing.
Still long SPY @ 127.84 from the 7th
Stop 126.08
Tgt open
Indicator as of 3/14 close = .5743707
1st std dev = .614879
Close but no reverse signal. Although the action was great for longs yesterday it certainly wasn't translating into euphoria or GREED. Nice and steady stair steps. Calculated buying. This is good and bad for me. Good because without that flush of buying that would put me into SELL mode I get to hang out a little while LONGer and see if we creep higher. Bad because I have to sit on my hands for at least a few more hours.
Normally I update my program every 30-45 minutes throughout the trading day looking for emerging patterns in the numbers.
And from about midday on the 10th I was getting the confirmation that a nice trend was developing. That doesn't mean anything for the indicator I post here. But for a few quick daytrades it means i`ll most likely be on the right side. A pleasant side effect indeed. I may start throwing some more of those around when it is called for.
Trade so small is doesn't matter.
Keep risk constant no matter the time frame.
Be aware of what the body is telling you because it knows before the mind.
Poor trading is usually exciting.
Stop 126.08
Tgt open
Indicator as of 3/14 close = .5743707
1st std dev = .614879
Close but no reverse signal. Although the action was great for longs yesterday it certainly wasn't translating into euphoria or GREED. Nice and steady stair steps. Calculated buying. This is good and bad for me. Good because without that flush of buying that would put me into SELL mode I get to hang out a little while LONGer and see if we creep higher. Bad because I have to sit on my hands for at least a few more hours.
Normally I update my program every 30-45 minutes throughout the trading day looking for emerging patterns in the numbers.
And from about midday on the 10th I was getting the confirmation that a nice trend was developing. That doesn't mean anything for the indicator I post here. But for a few quick daytrades it means i`ll most likely be on the right side. A pleasant side effect indeed. I may start throwing some more of those around when it is called for.
Trade so small is doesn't matter.
Keep risk constant no matter the time frame.
Be aware of what the body is telling you because it knows before the mind.
Poor trading is usually exciting.