Big Money On The Move
Like every other trader, I like to think I could have been astute enough to get a chunk out of Thursday's market action.
As I go through my routine of manually reviewing my method against the chart, I know that I could have easily have gotten crushed. The market volatility would have punished the greedy. For example, trying to short the YM (Above chart) at 0945 would have immediately faced a 100 point pull back! My goodness that's scary and humbling to even imagine being on the wrong side of that trade.
Not a market prediction, just an observation. I'm trying to avoid predicting what will happen next, I know as a trader/speculator, that's kinda of what we do. Let me try to explain myself. I want to develop the habit of emotional detachment from what I hope or want to happen in the market for the sake of being able to react appropriately to what is actually happening.