There was an article sent out four weeks ago (Today – Anything Can Happen) which discussed a simple mindset trick to help you separate your narrative about the world from your job of recognising and adapting to the actual market bias.
While the “real world” suffers through the ongoing trauma of 2020… it can be hard for newer traders to reconcile the fact that many markets are rallying to new highs.
But it’s essential that this feeling is put aside so that it does not interfere with your day-to-day trading.
This was the NQ at the time of writing that article:
And here we are four weeks later:
I’ve been in this game a long time. And yet four weeks ago I felt that the rally on this daily timeframe was overdone and due for a correction.
But I also know that NO-ONE REALLY KNOWS. And it would have been poor practice for me to allow this underlying “feeling” to impact the way I trade the intraday action.
You absolutely have to find a way to separate the two.
Because when the market is rallying, you need to be LONG. Not scared to engage the market because it conflicts with your feelings.
Please review the original article if you do suffer from this problem and want to explore the solution it presents – Today – Anything Can Happen.
You CAN trade each day with separation of your feelings about the world from the job of trading the markets. Give it a try.