Friday, October 9, 2009

Market Psychology

Trading = NO emotions

When trading y0u should always close out the surrounding noise and trust your trading strategy and charts.

Obviuosly the other day i got a 'little' confused and started listening to the noise, the noise told me to do the opposite to my charts and that costs money.

Its a valuable lesson i learn ever now and then but i keep making the same mistake, why? I think its because i'm human and i will never learn but i can try and minimise it for future reference.

Anyways i've got a new strategy, here it is;


Photobucket

My 'old' expanding wedge (in red) is just about dead but i've drawn a new one (in black) its a little early but we will see what happens. As you can c i still favour the high side....that 50% fib line is looking mighty tastey right now.....

safe trading

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