Thinking versus Acting
The difference between thinking and acting is huge. In the last post I was considering (thinking) about a short on the SPX. Sure enough, the thought was a good one. Problem was, it was just a thought, not an act.
The setup was a good one from a risk/reward setup, I just didn't get enough of a pop to put it on. So we missed a trade. Happens a lot if you trade a lot. Wasn't the first and surely won't be the last. What's important is that you keep searching for good setups. You'll hit some, you'll miss some but most importantly you'll learn to accept the misses as part of the business. Better to miss than to chase and get yourself into a bad entry that becomes a problem.
The market is struggling with upside momentum and likely will do so into the end of year. The trades to be made, as I've said of late, are fade trades and not much more. Don't think that there's enough momentum to carry you higher or lower. It just isn't there right now in the general sense. In particular issues ... there are a few although even there I prefer the fades as well right now.
The setup was a good one from a risk/reward setup, I just didn't get enough of a pop to put it on. So we missed a trade. Happens a lot if you trade a lot. Wasn't the first and surely won't be the last. What's important is that you keep searching for good setups. You'll hit some, you'll miss some but most importantly you'll learn to accept the misses as part of the business. Better to miss than to chase and get yourself into a bad entry that becomes a problem.
The market is struggling with upside momentum and likely will do so into the end of year. The trades to be made, as I've said of late, are fade trades and not much more. Don't think that there's enough momentum to carry you higher or lower. It just isn't there right now in the general sense. In particular issues ... there are a few although even there I prefer the fades as well right now.
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