The Daily Note - Round and Round

Round and round she goes, where she stops nobody knows. So goes the roulette wheel where fortunes are made and lost on the chance of a bouncing ball. It seems there are times that we as traders and investors alike are belly up to that roulette wheel and some boldly and others more timidly we all pick out numbers and choose our colors depending on our own private birds-eye view of the markets.

Hurry, hurry, put your charts up, ladies and gentlemen, for all to view your birds-eye view. Were you wrong, were you right, last time, this time? Will they notice, will they care, will they even remember? It is a circus you know, all clamoring for your attention as they perform in ring number 1, 2 and 3. Get your tickets over there and then come place them at the next freak show, where maneuvering beyond your imagination performed by market makers is clearly to confuse your reason. It's a 3 ring circus you're viewing.

Ah, but maybe that's not where you'll find the true way to trade. NO, it's over here! Come, join me around the table where all depends on the toss of dice. Is it 7&11, pass or don't pass or snake eyes perhaps. It's all at the craps table so trade away, because it's all a crap shoot anyway.

Is that the way you've been looking to trade better? Follow everyone at once, confuse yourself and try too many approaches at once? Have you been looking at what others do, buying a lotto ticket or two, hoping for the big payoff? If so, I'd advise you to stop trading and play the ponies because you'll have better luck. Trading is not a blind gamble, nor is it hope. Trading is work, it's study, it's art, and it's science so don't go for the snake oil sales gimmick or run away with the circus and stay out of casinos too.

Successful traders are not chasing anyone, they are focusing and saying what they see. It does not mean they are always correct, nor does it mean they have the magic key to your success. It only means they have figured out their own style and strategy. Running around and chasing other traders gets you unfocused and confused; lost in a maze of traders and trades, ticks and picks, and will leave you frustrated at the end of the day.

Instead, study styles, not all at once, but one at a time. Be patient and practice, not with real money but with paper. Try what you know on only a handful of stocks, not a bag full. Too many and the grass will always look greener. You will know what works faster practicing on a few stocks. You will learn faster about how to manage entries, exits and take profits. You will also get the most and best reward as well: you will get to know yourself and develop your own style and strategy which will ultimately be your very own. Then you can get off the wheel and quit going round and round



Happy Trading, Living and Dancing
Anni

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