My system didn't gave a buy signal from short at 2097 (I didn't take it) on daily and it didn't gave me a buy signal on 90 mins (I think 90 mins is better suited than 2 hr system but it doesn't matter as long as you are following trend) but still I went long thinking market is way oversold (mean reversion mentality) on all levels...I MUST control this. Anyway, looking for bounce to 2050 or stop out (this is critical, I must adhere to the stop - loss aversion mentality should be controlled).
I still don't have a buy signal on my 90 min chart but might be getting close as Russell is showing strength and Cum VOLSPD is still in deep red but I am seeing divergence in VOLSPD'S which means volume is not supporting this drop (Might change in the end). I am trying to follow my very simple trend system based on price.
Overall I showed little restraint by not trying to find bottom even though I am getting distracted by plethora of outside opinions...last night's stop doesn't look bad now but still think we will get a bounce soon but I am going to wait for my signal...another terrorist attacks! what in the world is wrong with people? Why do they have to show superiority over fellow humans? Why can't we coexist peacefully? Damn people.
The easiest way to make money is to go with the flow. To identify the flow, you need to stand apart from the crowd and suspend what you believe about relative value so that you can determine who is likely to do what and with how much force , how everyone else is likely to react, and if it doesn’t happen, what will traders do then? - Mark Douglas
Still getting influenced by external factors because I am a human...I MUST trust my system and take all the trades but manually taking trades afterhours is difficult still sometimes price comes to the entry to give second still not taking those trades because of my FEAR OF LOOSING.
This just few trades based on my 90 mins system....my daily system is still short from 2092 (Daily might be too slow) - I have to find a middle ground.
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