Maybe that headline is way off-based but I believe it to be true for the most part because often I am a sidelined trader as I’m so quick to take gains. I believe that is the main reason that I’ve been able to thrive in these markets recently, is my ability to take my gains quickly by scaling out and not hesitating to exit a position if it hits my profit target or triggers a sell alert.
However it is frustrating the times that I’m in cash looking for my next purchase, and I feel that many traders have been waiting for the mother pullback to get long and that just will not happen in my opinion. A pullback never looks the way we want it to, and while I spoke about the bad risk/reward on the Nasdaq trade the other day…trading is all about risk first, reward later.
The only way to trade this market is to sweat this wall of worry or twiddle your fingers on the sideline.
Enjoy the video, tweet, and comment…in that order.
“If you perceive the endless stream of opportunities to enter and exit trades without self-criticism and regret, then you will be in the best frame of mind to act in your own best interest and learn from your experiences”.