Friday, May 16, 2008

Today was a perfect example of me failing to trust what my chart was telling me. I did ok, trading-wise, up about 2.50 pts (per contract, but just been trading 1), but I seem to fall into the trap of expecting a day to continue in its early direction, especially if it was a strong move. I really seem to do this A LOT, but bias is also a factor, I think. I believe that all traders have some sort of bias, some more than others, of course. The key may be in tempering the bias, rather than struggling to ignore it. Had I traded what I am trying to accomplish with the 377 tick chart, along with fib levels that I am using, I would have made much more profit. However, I did leave at about 2:30, and I think I would have been making a few winning trades if I had been able to stay and trade. I am going to try to post a chart, but otherwise, it's late, so signing off.

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Sheeple



The Black Sheep tries to warn its friends with the truth it has seen, unfortunately herd mentality kicks in for the Sheeple, and they run in fear from the black sheep and keep to the safety of their flock.

Having tried to no avail to awaken his peers, the Black Sheep have no other choice but to unite with each other and escape the impending doom.

What color Sheep are you?

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