"Taking it one day at a time because there is nothing better to do than living in the present."

Wednesday, June 23, 2010

Patience is Virtue

I am at a point in my life where the market is controlling me. I lose and lose and keep losing. Main reason is I tend to not wait for the setups and start trading when odds are stacked against me. The challenge is trying to keep myself from trading when I know the outcome is more likely devastating the my previous trade. The market has been more along the lines of neutral the past week. However overall the fundamentals are not fairing well and I am to be on the short side. Unfortunately from a contrarian perspective too many are feeling pessimistic and usually that means stocks go up. Funny how each day for the past week since last Tuesday big up day the market has either ended flat or has fallen. The momentum is on the down side, but without much panic in sell orders it seems I should stay on the side lines.

No comments:

Disclaimer

All information in this blog are not to be used as investments by anyone. It is shown only to record my own experiences in the markets. I am not responsible for any lose, pain, anguish, or death you may have from following my trades. Therefore I polity warn all readers to use this site's information at their own discretion.