Tuesday, October 23, 2007

Goose Egg Today

Not much happened today. Market rallied and then went stale for most part of the day and then rallied a little before the close. I had about 8 setups I liked for the day but none of them hit my lows since we were so neutral. I didn't force any trades today which I'm happy about. One step closer to overcoming my impatience problem which in the end should save me some money from making stupid trades.


When I start feeling excited and want to make trades I think about the stocks I looked over the night before and all the work I put into the setups I picked out and I feel more relaxed and confident. I feel better knowing that I have setups I've picked out myself and I have confidence in my abilities so I wait for them to happen. If they don't happen then all the better. I'll end the day with a Goose Egg but it's better then red numbers. So, that's something I'm working on.


I notice that I make better decisions when I lean back in my chair with my arms crossed rather than leaning forward toward the screen with my hand on the mouse. The TWM trade for example is a perfect trade in my opinion and I did it completely objective and I feel I can be that way when I'm patient and relaxed about the market. When I see stocks shooting up huge amounts I'll get excited and try and get in on them but I know that I already have setups waiting for me and when the alerts go off I've got my own set of opportunities to look for.

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