Thursday, October 21, 2010

Cuts Both Ways

knife "Discipline is the refining fire by which talent becomes ability." Roy L Smith

No doubt about it, if you were short going into the morning session you probably felt like you'd swallowed a sword again as they ramped up to a new high on what appeared to be yet another breakout move. But by mid-morning it probably felt the same way to be long and caught off-guard.

So now what? Your guess is as good as mine, and we all know the drill for tomorrow, but as I said to Osi, I plan to stick to my own discipline at this point, and for each of us that means something different, so don't follow me or anyone else on this blog or elsewhere- you are good traders- all of you- so stick with what you know and how you know how to do it, okay? Okay. JJ showed great discipline earlier in the day when he took profits where he had a signal to do so, and that's the way it's done. Much respect for that, imo. No looking back, trade *your* signals to your own comfort level.

Off my early Sunday sermon, and on to a few charts. I'll be gone tomorrow until late Sunday evening, as I'm sneaking away for some fun and games to parts unknown. As always, I'll be in touch with Ziggy, and you'll be glad to get some peace and quiet without me squawking all day long around here. ;-) Put the duct tape away for now. Meanwhile, you guys have it all under control, no doubt about it.




See you Sunday- trade your very best!


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