Today on my way in there was the thickest fog in the air, I couldn’t see 10 feet in front of me. It gave me a great analogy to how I’ve been feeling trading wise. I’ll say it…
I have been in a fog.
Everything having a silver lining, I did show myself that I can be in a dead spell and have enough restraint to not force a trade. That being said, this September has been really slow, I had the worst case of traders block and couldn’t possibly see an end. I had to do something and this is what I did.
I picked about 5 pairs and structured a small basket with very low risk. I traded just to trade. However, like a writer with writer’s block, I had to get something on the paper…even if it was spilled ink. Or to elude to the fog analogy – sometimes all you need is little rain to clear the fog. So, I allotted a certain $$ amount that I counted as a loss (i.e. spilled ink or rain) and made a trade with it, just to get the gears moving again. Fortunately the trades turned out to be about average and I took a small % out of the markets.
I am seeing the charts again in a new light, I am back in the game again, the proverbial fog has cleared.
I don’t recommend trading just to trade by any means, but if an indescribably thick fog rolls in between your eyes and the charts, do something to clear it up, whatever it takes. Me, I had to accept that spilled ink and rain is all part of the job and in order for me to move on, I had to draw some blood. Unfortunately, a lot of traders will just sit there and wait, but waiting will cause you to lose confidence in yourself and very few things are more valuable to a trader than their confidence. Not to mention the longer you wait, the more set ups and opportunities will pass by your screen…
Enjoy the markets.