When I first started trading, all I thought about where setups. Find the perfect entry and you would be a gazillionare.
Look at all the beautiful entries I took this morning. I took every single one of them - perfectly entered. Unfortunately, less than half were exited at the correct time. Out of those 6 trades I held 5 of them too long.
Um helloooooo! You are not Dennis Richard. You are a freaking scalper. You need to be a ninja. Undetected and unsuspected.
So here's the damage -4.5 pips out of a total possible of +25. Seriously? Yeah seriously. WTF!
Here is my mantra for tomorrow: You are a Ninja; if you are up +6 pips you will take the freaking trade off the table if it ever retraces to +3. Always, I don't care about excuses! Also if you don't see volume expanding in your direction just get out immediately.
Thursday, March 19, 2009
Posted by Lord Tedders at 6:32 AM