Thursday, December 13, 2012

Futures Update-Think the Q's can't hit that area?

You might want to think again, I'm not saying they will, although it is like a magnet for market makers & specialists with a nice reward just above for both, I'm just saying there's enough gas in the tank here to do that.

 ES (S&P)  1 min 3C futures showing a leading positive divergence.

NQ (NASDAQ 100 Futures) 1 min 3C chart with a leading positive divergence.

Remember the post questioning whether to pick up TECS and "If you have the aptitude and patience, you will get the best position, the least risk and highest probabilities".

I don't know what any of you have done, I haven't done anything partially because of gut feeling and mostly because of time, but this is an excellent example of: The rewards of patience and especially the motivation and emotional component that forces us to act. This last part, the emotional one is so important that I think all traders should keep a trading diary, not a journal, a diary and write down the emotion of the trade.

Did you feel fear that you might miss TECS? Greed maybe? Was your decision balanced and based on the best choice with the information you have? Does it reflect a position you are comfortable with?

All of these things are very important for us to understand about ourselves and then we can understand the market better, we can reduce mistakes, create rules, learn to make decisions for the right reasons, learn to use creative problem solving that fits our style-such as phasing in to a trade .

Just something I thought I'd throw out there and see if it stuck.


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