A little heart to heart with the Gold Gerb.
Are your trades not working? Are you about to throw the towel in? Good! That means you are close. Close to making a change that is.
Has every instinct in every aspect of your trading often been wrong? Do you feel like there's a conspiracy in the trading room personally trading against you? Good. even closer. I encourage you to thrown in the towel. That's right, go opposite. "Blasphemy!" you say, "are you telling me to walk away from the Market?" NO - at least no yet, I say. Go Opposite in Your Thinking. Let's face it, for every single trade in the Market, there is two sides of the trade: Buyer & Seller. Both are obviously thinking different thoughts. So let's play some mind games, and find the Opposite shall we?
The Market has been soft for days, and looks ripe for a waterfall event.
Old Thinking: I'm gonna short this ride to the bottom!
Opposite Thinking: This softness is profit taking and accumulation, I’m loading up for the next rally!
The Market after a severe fall is bouncing
Old Thinking: What idiot would go long here?
Opposite Thinking: Bears are taking profits, and short covering is at a premium now.
The Market is sideways for weeks with no direction
Old Thinking: I'm going to watch every minute for the slightest hint of breakout.
Opposite Thinking: This is boring, I'm going to go mow the grass.
These are a just a few of the many mind warps that we as traders face every day.
I encourage you to examine some of the one's you have, and try to see the other side.
It could be just the 'Opposite Thing' you need to succeed.
But what may be the most important strategy of all is Opposite Playing.
Consider the Casino; it generally pays out enough to keep the suckers coming back, right?
what if the Casino sours the teat? What if a slot, or a table, or a house occasionally does not payout nicely? The player 'does the opposite' and moves on.
..same with Wall Street my friend. If the Market is not rewarding traders, traders will go away, liquidity will dry up, spreads widen, prices crash, pandemonium!
I hope you Just Walk Away when it doesn't pay, Wallstreet will beg you to come back..I promise, a House afterall needs it 'participants'.
