The collision of global markets and social mood

Wednesday, January 26, 2011

How To Profit By Planning Ahead

This morning I like what I see in the overnight chart of the S&P because it's good for my triangle thesis. I'd like at least one more high so I can add another short line.

I'm not a buyer here though. Ideally below 1280 and I'll step in. Maybe even sooner.

I'm not a seller yet either. Ideally above 1294.50 for that. Picky aren't I?

No, just patient. Probably the most important thing for my trading because my method emulates institutional players who trade longer time frames.

Patience helps me make trades that are planned. Planned trades have the highest level of conviction.

Therefore patience = profits.

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