'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Wednesday, December 22, 2010

Observe & Trade


Got stopped out from TF today to break even.

It went down a bit and trail my cover stop and I got hit.

Looking at the chart conclusion, it is not for an ordinary discretionary trader to fight/trade this kind of pattern.

Unless you are a risk taker or scalper.

I'll leave that to the computer or the pros.

That's why I stop trading after that and just stay idle.

My reason for the trade in TF is "I traded my beliefs not the market".