Wednesday Notes – I’m NOT Leaving My Wingman
By
We’ve all heard that classic line.
For after royally messing up once as the result of lack of confidence and conviction, Maverick “stayed with it” when it really counted.
Such is often the case when trading ES, which during the U.S. general session continues to be full of head fakes and general noise. As I mentioned the other day, trading ES during Europe hours continues to often provide better and more profitable opportunities, as was the case again overnight.
And such “noise” is often when I revert to “air traffic controller” mode, talking to myself in the form of chatting in the Tank when I just feel I need to stay objective regardless of any position which can easily skew one’s perspective.
I’m not always chatty in the Tank, nor am I always even there. Yet as traders, enacting Dr. Brett’s “Internal Observer” – whether via one’s inner voice or outward discussion – can help us remain attentive and objective, while reinforcing one’s market read confidence that years of experience validates.
As our Jellie NFL quarterback once said, playing not to get injured is the sure ticket to getting injured.
I admire your write ups, but I’m not sure I understand how “I’m not leaving my wingman” relevant in this case… Not sure I’m getting this article…
Scratch that
Just saw the details in the image… Nice!
Hi Omri.
It reflects staying with one’s trade conviction until proven wrong vs. bailing.
Don
“…playing not to get injured is the sure ticket to getting injured.” Absolutely, and you can not make it in this game if you are not willing to lose. A big challenge for me as I am only scalping even in this strong trending market and therefore have left the big chunks on the table!
Cheers,
Markus
Hey Don.
Are you thinking of providing some courses focused on just risk management?
Like where to place stops, what to do when a flash crash or unexpected situation occurs etc.
Cheers
Hi Venus
We cover that in both the live Jellie effort and the Webinars. Conceptually, I believe in managing risk via a combination of premise based (NOT point based) stops and size management.
Don