|Posted on August 23, 2018 at 12:50 AM|
So today was a slightly down, to a flat day in the market; and my watchlist sure reflected on this. Nothing on my list this morning was even worth watching or trading. There are some days as a trader which you have to sit on the sidelines no matter how bad the itch is to pull the trigger on something. You learn fast as a trader that you can't trade every day. For those that trade every day will soon find out they are asking to get burned. I've been in the position before where then last few trading days are on fire, and you’re getting win after win. The next day comes and nothing is aligning up for you or even looks good, so you do the forbidden and talk yourself into a trade. These types of ”forced trades” rarely work out and from my own experience will only put you in the red for the day. It's rare that these ever pan out so it's best to just stay away and take a day off. On days like these, I find myself engaging in more trading strategies that I'm studying or trying out. No matter how far I ever get in the market I'm never thru with learning. There's always something to learn no matter what your trading skill is or position. The truth is there are strategies which I’m still trying out, which will take up to a year, even a year and a half to try it successfully as a proven system. Basically, in a nutshell, there are never any days off as a trader, especially if you really want to succeed. Even if you don't make any trades on a particular day or even come close you should never take a day off. And folks this is the lesson today and my blog. I again can't wait to talk about the many topics to come our way. On this note, I am signing off. Goodnight to all and happy trading.
Categories: Anything Stocks