How Long Can We Trust That

WOW...

That makes three days in a row where we have sold off hard in the afternoon and closed near the low of the day. Did you expect it again today? I did not think it would repeat this many days.

BUT...

I can not prejudge and decide what the market will do. I need to follow my trade signals to stay on the proper side of the trend and jsut see what profits follow. The first long signals early in the morning worked great. Then the anticipated pull back from the initial highs. From here, I wanted the market to blast to the moon.

I talked myself into a scenario where the market just could not sell off a third day in a row. This just has to be a fakeout. Make price action look like we are setting up for a selloff, then blast higher.

Well I did not get killed, but I scratched out of too many long trades at break even, longing for more profits, instead of harvesting the available profits. Worst of all, I was "looking the wrong way" and did not take trades with the trend. I saw my short signals, but did not "want" to listen. So when my long trades got stopped out, I'm not short and end up watching the move go without me.

Today should have been an awesome day with profits that some people would think of as unbelieveable to obtain for one day of trading. Instead, I'm left disapointed at my trading. From now on, I must take the trades and let the market "show me" what it is going to do. I'm killing my profits "wanting" or "Hoping" the market does what I decided.

Trade Wise, Trade Well
John