Thursday 1 October 2015

Top Tweets Today: 01/10/2015

One of my criteria I use when judging who the best people to follow on twitter is the level of fun the user can create during market hours. Stock Cats is one such example with a dry sense of wit but hilarious account of the day to day activities that keep him busy.  He goes to show that you did need to take yourself seriously to have fun on markets.

Thanks Stock Cats, keep it going.  
This was a particular good article by Steve Burns which is quite nifty when you're faced with a market that is playing havoc with your trading capital and prowess. I spoke about a similar point yesterday with buddy Petri Redelinghuys opting to stay out of the markets for now in the hope of regaining his confidence after quite a horrid time dealing with complex volatility.

I think knowing when to turn off your trading system is one key to the success of any trader however there is an innate perception that by not being involved in the markets  means you won't be able to make money.

Although committing yourself to a task does advantage you when it comes to clocking up experience, turning off and sitting in cash does save you from the mental grind you go through when your system begins to generate lower quality signals but also saves you from losing hordes of cash in the process. But don't think it's as simple as suddenly finding the ability when to know the right times, that takes practice and as the pros say, School Fees.

So now you know that you don't have to be committed to trading everyday, make an effort to identify points through trading conditions where you find you losing too many trades in a row, make notes and remember the market is forever changing , it never stays in the same condition for too long or then it gets too complacent and departs with a loud explosion of volatility.

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