GOLD 0.51% $1,391.7 gold futures

Can we crack $1300 tonight?, page-479

  1. 7,702 Posts.
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    Why the pre-occupation with going short?
    1: A successful trader will trade both sides, long when rising, when detecting a reversal, SELL and take profits, and then immediately short; when detecting a reversal, cover, take profits, and BUY. GOTO 1:

    Here's something I picked up almost 15 years ago when I was on the Street. I don't know the source any more, but I think it reads true, technically, and psychologically (the most important):
    Forgive the caps and fonts and colors.. elaborate MS Word doc....printed as published (i.e. pls do not Report the Post for shouting, whatever).

    WHEN A TRADER GOES FURTHER, IT IS ALMOST ENLIGHTENMENT WHEN A TRADER FINALLY REALIZES THAT WHAT DID HAPPEN DOESN’T REALLY MATTER.
    WHAT MATTERED WAS SIMPLY THAT THE STOCK MOVED IN A CERTAIN DIRECTION AND THE TRADER WAS ABLE TO PROFIT FROM IT OR NOT.
    THIS CLARITY IN TRADING ALLOWS A TRADER TO IMPROVE HERSELF AND His ACCOUNTABILITY.
    THE STOCK MOVED, THEY DON’T KNOW WHY, BUT THEY TRADED BASED ON WHAT THEY SAW IN THE STOCK.
    THEY EITHER PROFITED OR LOST BASED ON WHAT THEY SAW IN THE TRADE. IT WAS THAT PERSON’S TRADE AND HIS ALONE.
 
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