After doing a mid week video update, I have noticed not much has changed and the predicted upside had come to reality. It will be very hard to not expect further upside in this market and with that said the game plan remains the same Quality- HPS- and Continue to bank profits. This weeks Watch list breaks down further new trades in the Oil and Gas names and GOLD and SILVER has made its way back into my radar. And the lane Divergence that has appeared in Copper Stocks.. All great stuff. As with the market outlook.. Well can I cheat and say that a pullback would be welcomed but I understand why the market could move higher. I have to go with Higher and make a charge at the S&P 2k level.
This next video is a basic review of why the HPS has been just killing it. The credit has to go to the 60 min time frame for our exits..and for our entries.
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I recently took a few days off and I find taking a step away from the markets was a very positive experience for me. As when your totally immersed in the markets like I am every day you get bombarded everyday from every side. Most traders get caught up on every move be it big or small in the markets. The bears will attack when there is signs of weakness in the market with their repetitive argument that the whole house of cards will come tumble down and the Fed is completely wrong in on how they are dealing with growth and their programs. And then you have the Bulls which might have a more optimistic point of view on the markets or economy but could fall under the same trap as the bears. Believing they are right and the markets are wrong. That has not happened yet and all indications point to a continued upside. I am not here to say the bears are wrong and the bulls are right I am here to say we are wrong as traders when the signals are showing one thing and you refuse to take advantage of it because you have core belief in something else.
I know this will fall some deaf ears, there are thousands of traders that will pass through this site over the years. Most won't make it, I am not going to lead you on or tell you this is an easy job. But I can share with you knowledge i have gained over 19 years of trading. When I started out I was starving for knowledge always looking for the perfect strategy or system, Studying charts for hours each night. Following message boards believing things I read on message forums. sometimes it would work but over time it would catch up to me and I would have to take bigger gambles (trades) to mentally get myself back in the game. Most of the time this would put me in a deeper hole. This was what I look back on and call my learning curve. Learning now what did not work most of the time. The big change came for me when I was able to see what didn't work most of the time to finding what worked the majority of the time. What was the correlation between why some trades worked the majority of the time and why some trades didn't. I worked hard on statistics of my successful trades and unsuccessful ones. what was the common denominator of them? Over time I found that there was not just one reason why stocks moved up or down but the moves happened to correlate with what I call the arrangement of underlying indicators. That's was the easy part. The hard part and the reason most traders fail over time is the markets are a big casino open to the public with no age restriction no experience or prior knowledge need to enter. And with the daily temptation of the being able to make money by just pressing a couple of buttons it is easy to see how the lack of discipline and patience will quickly catch a trader and take him down not just monetarily but emotionally also . There is always a better way and that way is to slow down and take the trades that fall within the requirements of HPS.
I hope everyone has a great weekend and See you on Monday
