I’m still bullish for now I believe we try to hit the trend line that has been tested 3 times before as we get closer to it start to think about playing puts. I got an email from CBOE saying they are going to allow 0dte on SPY,QQQ and XSP. This is good and bad at the same time, the market makers just got a new tool to take retailers money before the recession hits. If you’re a trader that always goes for the 1000% you might want to rethink your approach since you now will have 5 days of 0dte options. This week we also have PPI on Tuesday I do think the market will overlook this to keep this rally to fill the gap around 408 this week, let’s see what happens. With everything that happened last week it shows people are tired of selling we are seeing panic buying instead of panic selling volume was up almost 6% last week. But we are still in a bear market as we all know.
Please have a plan when taking a trade and hold yourself accountable for your trade, find a strategy that works and stick to it don’t keep changing it. Our brain wants us to sell when we are up to avoid the pain of losing so we sell early and watch it run then beat ourselves up for not staying in, this is why I say create a personal profit margin that you are happy with and stick to it. On the other hand our brain wants us to hold when the trade goes against us and tells us there’s hope to break even or turn a profit the underdog right so have a amount you are willing to lose cut your loss and start a new trade without the intent to make up the loss you acquired it’s a new trade it has nothing to do with your past trade keep them separated. We are our own worst enemy in this field, 90% of traders fail so what are the 10% doing study that there’s always something in common there, we all have the same tools and more information than ever. Find yourself as a trader what works for you might not work for me that’s why we have thousands of indicators and patterns out there, a trend line only works 60% of the time, patterns break down, rsi can stay at 80 for days, moving averages are lagging, I can go on and on. So please sit down, write down your weaknesses and strength then build from there, it takes time.
As always trade what’s in front of you good luck
Please have a plan when taking a trade and hold yourself accountable for your trade, find a strategy that works and stick to it don’t keep changing it. Our brain wants us to sell when we are up to avoid the pain of losing so we sell early and watch it run then beat ourselves up for not staying in, this is why I say create a personal profit margin that you are happy with and stick to it. On the other hand our brain wants us to hold when the trade goes against us and tells us there’s hope to break even or turn a profit the underdog right so have a amount you are willing to lose cut your loss and start a new trade without the intent to make up the loss you acquired it’s a new trade it has nothing to do with your past trade keep them separated. We are our own worst enemy in this field, 90% of traders fail so what are the 10% doing study that there’s always something in common there, we all have the same tools and more information than ever. Find yourself as a trader what works for you might not work for me that’s why we have thousands of indicators and patterns out there, a trend line only works 60% of the time, patterns break down, rsi can stay at 80 for days, moving averages are lagging, I can go on and on. So please sit down, write down your weaknesses and strength then build from there, it takes time.
As always trade what’s in front of you good luck
تعليق:
I know I messed up drawing the gap fill idk what happened there
