Biases, Neutrality

This has happened to me on more than one occasion and bears repeating, if nothing as a reminder to myself. The market is always right. My opinion doesn't count for jacksh**. I have no impact or bearing on the market whatsoever, so to think my stops get taken out because some market maker is out to get me is absolutely absurb.

As those who have been my readers for awhile, you know I love the bearish side of the market. Not quite sure, but maybe it's vindication for those years I had absolutely no clue that you could make money going to the downside, as well as to the upside. Direction of the market is neither good, nor bad in it of itself.

People assign meanings to those directions.

If the market is going down and your position needs it to go up. That isn't such a good thing. Vice versa also. The thing is to understand the signals the market is giving you and go with the flow, let the "gorilla", which is the market, lead in this dance. Sometimes the cues are incredibly subtle, other times it's in your face. Whatever it is, the market is right, even if it makes no sense to you what it's doing.

It's our jobs as traders to better understand the cues of the market to know when we are in a retracement or when an actual reversal is happening.

Often I will have a bias towards the down side of the market just because it's fun for me when the market tanks and I can get a piece of the action. Albeit, I haven't developed enough skill for when things move quickly to consistently take a piece of the pie without getting myself reemed in some manner. Sometimes the moves will be quick, strong, and a lot and I may just get a nibble. Other times, it was by accident that I had a trailing stop and it just went with it. And, still, many times, I just miss the move all together as I sit here watching in shock and dismay that so many points can be moved in such a short amount of time and quickly calculating my "what if" scenario.

"What if" doesn't pay the bills, neither does virtual money, only cold hard trading and cash.

As I write this, the market is slowly moving up and it's a few minutes pre-market. Could it be moving up or is this just a retracement? It's really to let the market tell me and not for me to wish that it would tank to 777 or 740 or whatever the numbers I desire.

Keep the attitude that whatever the market does, it's perfectly fine and wonderful and I just want to go peacefully join in it, tagging along.
0 Responses

Amazon Store