I'm choosing to be a coward. Not getting in on the rally, coz I really want to maintain my positive week, and months.
I can't care less about the concept of "No risk, no gain" (or "no fun", as someone in the poker room once told me). I'm making my gains MY way.
Not having the nerve to trade my very bullish DBW plan when the market's staging such a spectacularly crazy rally is a little frustrating. I can't explain why I've chickened out. Maybe there's a part of me that's still intimidated by ES. Or maybe coz I just don't want to part with my hard earned money (I mean, I've not exactly been cruising through the past 2 months)
It's clear that ES has no resistance up to the 875 level. It might pause a little at 865 - 866, but it will not be stopped.
Just the way I'm reading all my charts. And the tape.
ES Hourly
ES 5min
For today: USD 150
4 comments:
Hey Jules :)
I understand your frustration with regards to "Not having the nerve" because you don't want to part with your profits and how that feels when you let perfectly rational trades slip away. The way I've dealt/I'm dealing with that personally is to reset the counter- that is, to take profits out of the account and create a fresh start. This way, at least for me, if you should have any kind of drawdown, it won't impact on your prior success. The donkey and the carrot...lol.
Just my 2 cents worth :)
MM
:-) Thank you, MM. Read your post on "Fear of Futures"...I happen to also share your fear of success (Complacent Panda's too)! :-)
What you've suggested I'm actually doing it on online poker (facebook version) - but still I've never gone "all in". Someone actually teased me openly that I "always fold" :-)
I guess I'm still licking my wound (from Dec) LOL!
You're playing correctly Jules! In Poker, you wait for the good setups. No harm not putting in money. I have a friend who made $50k mostly just waiting for AA, AK, and KK before making big bets in online tournaments.
Take care =)
Thank you, CP! Thought you're on a break? :-)Good luck with the stock contest and studies!
You take care too :-)
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