We have different time horizons, objectives, goals, and appetites for risk.
It's for this reason that the endeavor of trading is often a lonely one; you're forced into fine-tuning what works best for your needs.
What works for me isn't going to work for you.
This is self evidently true.
It seems to me that one of the overlooked elements of this discussion is the variability of human personality.
This is something I've been pondering as of late, so I thought I'd lay bare my potential fallacious thoughts to see if we can strive closer to some answers.
The January AAII asset allocation survey shows household equity exposure rising for the third month in a row and climbing to its highest level since May.
As promised during yesterday's The FLOW show, I'm following up on a possible trade idea we discussed.
However, after Strazza and I put our heads together with the rest of the Analyst team this morning, we're going to attack an opportunity in Schlumberger $SLB from a different angle -- one that can be rewarding regardless of which direction the stock takes.
These are the registration details for our Live Monthly Candlestick Strategy Session for Premium Members of All Star Charts.
This month’s Video Conference Call will be held on Monday February 6th @ 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.
It’s easy to follow a trading plan when the price action is moving our way. We feel like geniuses.
Look at me! I’m so smart! The stock market is doing exactly what I planned for it to do! Let’s go car shopping!
But how do I feel if the price action goes the other way?
Assuming I’ve put a trading plan together that accounts for both the possibility of being right AND the possibility of being wrong, why should I feel any different when the price goes the wrong way?
What’s the point of putting together a detailed trading plan if I later exit the position following the first price move in the opposite direction I hoped for?
