Tuesday, August 28, 2012

New Setups + A Pep Talk

Here are the new plays to watch tomorrow. 

Observation: I am seeing MANY traders getting chopped up this month. August is notoriously difficult to trade for many folks, keep that in mind. Volume and volatility have dropped off to stand-still in the last 3-4 weeks. 
Sept-Dec will be MUCH BETTER for trading, i'm 100% certain it'll be nothing like what we saw the last few weeks. We will all be a lot busier(in a good way) but in the mean time, our/your goal is to NOT get chopped up to the "point of no return".  Goal is to NOT get frustrated to the point of wanting to give up or worse yet destroy your account and confidence.

I am seeing this and hearing this from MANY traders(newbies and experienced traders), August has chopped up even the best of us, so I urge everyone to REMAIN mentally positive and mentally stay focused for the NEXT few weeks/months. The summer months are ALWAYS boring as there is literally no volume(for example: yesterday was the LIGHTEST VOLUME DAY OF THE ENTIRE YEAR) and volatility dies down completely. Let's not try and over-do it or over-think it. Conditions suck for active trading right now. THAT WILL CHANGE SOONER then you think. 

Bottom line: patience guys, try to not get frustrated and do mistakes you otherwise wouldn't do like Over-trading, Over-thinking, Over-analyzing, Second-guessing yourselves etc / It's not easy but you need to catch yourself. 

September/October/November and December will be a whole lot different and i'll bet it'll be a whole lot better for most of you! So positive attitude and chins up!

Happy trading.

No comments:

Blog Archive