You probably can remember at least one campaign in your trading career you regret having missed out on. It’s the ‘one that got away’ despite your best efforts to grab a position when conditions started to align in your favor. For me personally it continues to be one of the biggest psychological as well as technical hurdles to grapple with: When is the perfect time to get positioned? Well, that’s easily answered of course: Just before it starts taking off!
I have some family obligations to attend to today so let me get right to the point. This may be day you’ve been dreaming of, your chance to actually stick it to the Mole once and for all and, assuming you finally drop that disgusting glue sniffing habit, go on to tell your grandchildren all about it. Do I have your attention now? I thought so
Draghi is busy kicking the Euro all over the place right now and posting setups in a volatile situation prior to the open isn’t exactly my favorite pastime. Plus I’m currently considering seppuku as I’m watching my favorable exchange rate slowly swirl the big forex toilet bowl.
We’ve watched the tape gyrate on a slow downward trajectory for several weeks now and a final resolution, to the up – or down – side, continues to evade us. Which I’m sure has been jittering quite a few nerves out there, especially given that many participants are unaware of or unwilling to embrace the reality of distinct market cycles. Which unlike our seasons seem to come and go in fairly unpredictable patterns, much to everyone’s chagrin. However acceptance of a cyclical market is tantamount to survival as a trader, as has been the recognition of and then response to climate variations throughout our evolutionary history.