The market will always find a way to move so buyers (read professionals) can get in lower and sellers (the same crowd) can get out higher. News, non-news, someone speaks, someone speaks and has a gaff, nothing is made something and the flames are fanned by the talking heads and every Uncle X and Aunt Y will run to the phone to buy/sell too late or they get out at a bad price only to see the market run for the gold finish.
The point? Markets will move when the money is ready leaving small investors out in the cold or holding the bag. Your objective, and only objective, is to follow the lead not get pounded by it. Embrace it, not fear it. Make money from it, not give your money to it.
Where do you start? Study trading patterns, charts, techniques, the "why to enter" and the "why to exit". Watch, listen, take notes and copy charts for review. What were your thoughts as X began to develop? Real time reviews, not hindsight reviews where everyone becomes a superstar.
Practice, Practice, Practice and when your frustrated, or tired, PRACTICE again. You must know what you will and will not do when X develops. It is amazing that people would never try to hit a 100+ MPH fast ball without practice, yet will sink money into trades with reckless abandonment.
NICE WEEK in trading. Bullish pressures were building, one evening buys at 37.5 another at 43. The tone was being set. The the daily ES flashed a reversal pattern, the "L" which had a significant upside.
February 5th
[21:38] <CM> ES daily has formed an "L" which has reversal potential to 1760 (link deleted)
Not only did we get the 1760, a buy signal kicked in and we had a follow through rise to the 90's, a 50 point swing from the initial buy entries see in play by professionals.
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