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I will not allow yesterday's success to lull me into today's complacency, for this is the greatest foundation of failure. -- Og Mandino

Archive for August 30th, 2010

Aug
30

Monday Notes – Game, Set, Match

Posted by: Don Miller | Comments Comments Off

Bullish, bearish, neutral … which one is completely irrelevant and changes by the minute.

The goal of a trader?

Like a good tennis player, anticipate where the ball’s likely to land on its return BEFORE the opponent hits it.

Or, like a poker or chess player, think 1-2 steps ahead of those floundering around on the retail/losing side of the trades … lest you join that “other” side.

Work like heck to find the bias and defined channel in play, and then trade it with conviction.

And when no less than NINE signals all line up as they did for the attached sequence this afternoon, well, if you don’t take that trade, then – and I’ll be frank as always – this business just isn’t for you.

Is any trade guaranteed to work?  Of course not … thus the premise based 3LB stop in the notes.

Yet when you’re approaching the net anticipating a soft return and your opponent obliges with the gentlest of lobs, well, you go for the kill.

Our professional tennis player from the beta Jellie team would be proud.

Categories : Tank Transcripts
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