I Highly Recommend This For Traders
For the
third day in a row, the overnight
Globex market has provided the best low-risk reversal triggers of the current
short squeeze, resulting in an
unfortunate intraday rhythm highly reflective of war-driven spikes far from
range extremes or larger period trend supports. For those trading one-minute
trends, there has been some action, yet keep in mind if you choose to trade such
timeframes, turns can be quick and the risk/reward is typically just north of
atrocious. As such, stepping aside until low-risk high-probability setups occur
is the prudent course of action — reading a good book comes to mind.
And speaking of books, one of the books I highly recommend for traders looking
to maximize their ability to sustain energy and flow with the markets, not to
mention other areas of their lives, is “The Power of Positive Thinking” by
Norman Vincent Peale. I’ve just ordered a boxful to give out to trading peers
and associates, and you may find it does wonders for your emotional control of
yourself and the markets. Chapter Three entitled, “How to Have Constant
Energy,” specifically addresses finding the “rhythm” of your profession, whether
one is a machinist, mechanic, typist … or in my view, a trader seeking to get
in step with the market. It’s a $12 investment that you may find saves you
thousands
ES (S&P)Â Â Â Â Â
Thursday March 20, 2003 12:00 PM ET       NQ
(Nasdaq)
Moving Avg Legend:
5MA
15MA 60-Min 15MA
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Good Trading!
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