Yesterday is a perfect example of a market poised for a move. And the oddsmakers are all arguing it, but the consensus remains long term bullish.
We are not trading a put yet. The volume is too light, the flat lining too steady.
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Many traders ask questions daily. These are the questions I am asked the most:
1. What Pnf Charts do you watch
1 minute, 5 minute, 15 minute, daily and weekly)
2. Why do you constantly argue with facts and "false facts"
(because they vastly influence how the public reacts. We are a gullible, and ill read people)
3. Do you have stop losses in place at all times?
(No. First, it is not possible to do so on an index option, but even if it were we keep all option stop losses as "mental ones" as listing them can draw market makers to buy the stop loss, moving the market down).
4. What is the key to your success?
(1. Discipline and Focus 2. Following Rules, flexibly 3. Questioning all authority and all facts
5. You follow the market all day, and you recommend meditation, and even show a meditation methodology on your home page. Why?
I believe we know little of ourselves and that we know only what we want to know. Meditation eases and relieves the mind of itself, and I use meditation twice daily to "calm my mind"
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