4.13.20 The difference between reading the market effectively and actually making money in the market.
Comment:
As Ernie has it, the video stopped me out before I had a chance to finish the last sentence. As Ernie hasn't, I didn't stick around to listen to the video before it was uploaded and I lost my opportunity to delete my video. In simple terms, it really bothers me that my tools in my approach to finding reversals in this market worked perfectly, and yet it would've been so easy to lose a lot of money anyway. At least today when I thought I knew where the market was going, I would never take a trade because there's a disconnect and there is uncertainty and a lack of confidence that this market would trade according to my speculations because there are no clear signals, and if I trade the market today as a discretionary trader, I become the most dangerous kind of trader as I might've become many years ago because once I start taking trades with no clarity and no edge that favors me, then my trading becomes more uncertain and I become more impulsive and that's when my trading is out of control and I will likely lose money as a trader. I believe it's not just trading with good instinct, but recognize when the markets given you a set up with greater opportunity. Hopefully this clarifies the issues.