Tuesday, December 4, 2007

Patience, patience, patience....

Waiting for the mrkt to setup is so hard b/c as traders we always feel that we need to be in the action all the time. There's a time to trade and there's a time to just sit tight. This is one of rare times where we need to just sit tight. Volatility will return and i will make trades again (good ones hopefully) but right now, isn't the time to trade. A lot of traders lose most of their gains from trending mrkts by trading directionless, low volume mrkts. Read a trading book, do some back testing/research etc. Good luck.

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