Being on the wrong side of the market
…The end of the week.
52 pips profit for this week. Compared with 20 and 15 from previous 2 weeks this is way better…
Few short notices bellow from last week.
- You don`t do entry or exit trading. You trade.
- There`s about 90-120 bars a day on a five minute chart, or more. Or less. As I see the bars I am in the market.
- Think for a moment and visualize a guy in the market all day long.
- The purpose is to be holding a position as price is changing its way. Not yours.
- So I hold as price changes and try make money all day long.
- Have you ever seen a reversal @ market? Yes you have but you did not recognize it. Look at the MODE of the market: continue or change. All day long it is usually continue as price changes. Sometimes it is “change” when price stops changing. If price stops changing it is time for me to get on the other side of the market?
- I see an entry and an exit as the identically same thing. I always do an exit and entry at the same time; it is called a reversal.
- If price is not moving I am not making any money. Then I have to leave the market because the only thing in the market then is the RISK of my being on the wrong side of the market if price begins to move again. You buy and you sell or you sell and you buy.
- Most of the time you are out of the market when price is moving.
What is your role?
- A person only has to stay on the right side of the market all day long to make money all day long.
- People are losing when they are in the market.
Why is this?
It is because they do not see the markets and they follow the conventional orthodoxy. That is just the way it is and will be for most people.
- Every day before start of trading i was telling myself: “think about you and the market. Today you could lose. But this is normal.”
- The market won`t say, “Go long here!” or “Short the hell out of that over there!” The market simply provides the trader with signals for continuation or change. Once one has the ability to distinguish and differentiate between the two, nothing else more is needed.
…the Friday, 13th is in the past. It was profitable for me because i did non-traditional action? ;-).
