daytrading may 16 pre-market, page-5

Thx HLL

Meme Fxs Day Trading Diary - What To Do?

It hasn't been such a big drop in the indices, so why does it feel different? Maybe it's a sentiment issue and there's a change coming.

However, the market is sliding down, with a low and dropping volatility. Not easy for DT or EOD. No premium left in option writing.

News (except for 64eheh's) isn't that great. Debt Deflation still rampant. Greece is too small to matter, but the fear of contagion does matter. Constant rumblings from everyone's totalitarian best friend China.

So what can a poor trader do?
- Be much more selective about DT and EOD trades
- Reconsider the black art of shorting?
- Explore other markets, other instruments?
- Wait for precipitating events that might jolt the markets
-- Greece defaulting/exiting the EMU?
-- Attack on Iran?
-- QEIII
-- Something else?
- Go to the beach? - no I have to think, I have to earn.

If this is the start of a down trend, then there should be a few good sharp days to the upside.
If it's just a pullback in a wall of worry rise, then I should be there for the main chance.
There's always something...

Be patient.
Watch.
Wait.
Plan.
Be ready to move.

Like a spider.
With webs.
A Zen Spider.


Yours in The Struggle...