Can winning trades make you uncomfortable?
Have you ever found it difficult to
take a good profit? Ironically, it may be a symptom of impatience
operating under the guise of “letting our winners run”. We’re all familiar with
the 2 basic emotional saboteurs of trading, fear and greed, but I think when it
comes down to pulling the trigger, there is only fear holding us back: either
the fear of losing, or the fear of losing out. This 2nd
fear usually appears when some sort of clock starts ticking inside our head.
When some cold streak, or simply the lack of a tradable set-up, has worn our
patience thin and our visibility narrows down to no further than the very next
trade.
On my worst days, I would be reluctant to take even a partial profit on
any good trade, as if it were the last trade I was ever going to do. That may be
at the extreme end of the spectrum, but any discomfort with ringing the register
may be a sign of some external pressures having manifested themselves in being
overly committed emotionally to any 1 position. It’s best to take a few steps
back from the monitor, splash some cold water on your face, and remind yourself
that this is only 1 trading day out of 240 for the year, and any trade is but
one out of thousands ahead of you.
Daily Pivot Points for 11-30-05
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| Symbol | Pivot | Â Â Â Â Â R1 | R2 | R3 | S1 | S2 | S3 |
| INDU | 10912.01 | 10935.94 | 10983.73 | 11007.66 | 10864.22 | 10840.29 | 10792.50 |
| SPX | 1260.38 | 1263.28 | 1269.08 | 1271.98 | 1254.58 | 1251.68 | 1245.88 |
| ES Z5 | 1262.00 | 1265.25 | 1271.25 | 1274.50 | 1256.00 | 1252.75 | 1246.75 |
| SP Z5 | 1262.03 | 1265.07 | 1270.83 | 1273.87 | 1256.27 | 1253.23 | 1247.47 |
| YM Z5 | 10929.33 | 10955.67 | 11002.33 | 11028.67 | 10882.67 | 10856.33 | 10809.67 |
| BKX | 105.50 | 105.78 | 106.23 | 106.51 | 105.05 | 104.77 | 104.32 |
| SOX | 478.48 | 481.44 | 487.11 | 490.07 | 472.81 | 469.85 | 464.18 |
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Weekly Pivots for the Week of 11-28-05
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| Symbol | Pivot | Â Â Â Â Â R1 | R2 | R3 | S1 | S2 | S3 |
| INDU | 10882.72 | 11004.38 | 11077.15 | 11198.81 | 10809.95 | 10688.29 | 10615.52 |
| SPX | 1261.93 | 1276.96 | 1285.67 | 1300.70 | 1253.22 | 1238.19 | 1229.48 |
| ES Z5 | 1263.83 | 1279.17 | 1288.33 | 1303.67 | 1254.67 | 1239.33 | 1230.17 |
| SP Z5 | 1263.87 | 1278.93 | 1287.77 | 1302.83 | 1255.03 | 1239.97 | 1231.13 |
| YM Z5 | 10899.33 | 11029.67 | 11102.33 | 11232.67 | 10826.67 | 10696.33 | 10623.67 |
| BKX | 105.10 | 106.78 | 107.73 | 109.41 | 104.15 | 102.47 | 101.52 |
| SOX | 482.37 | 488.88 | 493.16 | 499.67 | 478.09 | 471.58 | 467.30 |
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Please feel free to email me with any questions
you might have, and have a great trading week!
Chris Curran
Chris Curran started his trading career at the
age of 22 with a national brokerage firm. He combines fundamentals and
technicals to get the big picture on the market. Chris has been trading for 15
years, starting full time in 1997, and has never had a losing year as a
full-time trader.