Hi friends,this is something nothing about technical analyis but i think it is much more than that.Since last few days two episode has happened which has totally changed my point of view regarding trading the market.
1)Few days back i was watching discovery channel in which a big rock pithon was sitting inside a lake and just raised its head barely so that it can see the things around,it was really hungry and did not eaten for weeks.Once taken position inside the pool it waited for full 30 days without any movement what so ever mean while many animals at that pool come and gone but that pithon did not showed any impulsive attitude and the day came when exactly a dear comes to its range and within fraction of second the dear was under its grip.
2)On last thursday i was cleaning my computer room and when i reached to a corner of my room where my invertor are placed what i saw was again a revealing thing what happend is that a spider was seeing an little moth which enterend in its web moth was entangled in the web but spider did not make any movement when some how moth moved to the spider way spider just sprang and made moth its lunch.
what these two real things tells us very simple we should wait for our set up to happen we should not be impulsive even the setup does not occur we should wait and wait and wait like the pithon and spider until set up(our bait) occurs and then without any wasting of time we should grap the oppertunity. this about entry for exit i have nice true story which i will tell after some time.
The following 3 users say Thank You to joyginy for this post:
It seems that patience is an asset in common in predators and traders:
“And right here let me say one thing: After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying and selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine – that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”