We saw a nice rally today after consolidating in a tight range for some time. We ended up hitting the high side of the targets I had called for the last couple of days. That target is now complete. I had wished I would have commented on the market in yesterday’s post, but I got right into a lesson continued from the previous day. I do see a good chance of a short-term reversal over the next few days.

Currently, the S&P futures are off their highs in the aftermarket and that will probably get transferred into Fridays market. It looks like to me that we are going to get selling pressure for tomorrows session. I was expecting this today and did see a very nice topping process take place right at days end. All that aside, I do think that you will see more selling opportunities for tomorrows market and of greater magnitude. Keep an open mind, but don’t be afraid of shorting if the setups are there. You may be glad that you did.

I just thought of something. I know that for many traders, it is easier to trade on the long side, than it is on the short side. It may feel un-natural to short the market. Everything often times is harder mentally to actually execute for so many traders. It is not that way for me, but I am thinking and talking about other traders. Do you notice that to be true for you? That is a good question and you may want to give it some thought. If that is true, why do you think that is so. Do you have mental barriers that you have placed in-front of you that says, you can’t, you won’t and every time you try, it just does not work out? 

It is true that most traders have a pre-disposed position to go long and there are many reasons why that is so. Rather going into all the reasons why, I would like to talk about how you can overcome that mental barrier and break free to profit from both sides of the market.

If tomorrow does happen to be a down day and you are only able to go long, don’t you think that you are at a disadvantage. Many traders just cannot train their mind to see the setups in reverse of long positions. I feel the basic reason traders put limits on themselves and buy into the mindset that you buy low and sell high and anything other than this is unconventional and can not be trusted.

A traders who wants to trade for a living will need to face this reality sooner or later. If you go into a boxing match with one hand tied behind your back, do you think you have as good a chance as with two hands. Obvious answer, No. You need both hands to be the best that you can be. That is a key statement, “the best that you can be”. Why not, isn’t that part of it.

Markets often go down a lot faster than they go up and not being able to participate can be frustrating. You may be trying to go long, where there is very little room to grab a profit. You get stopped out and try again. Looking for a bottom in a down-trending market can devastate your trading account. DON’T DO THAT. It is best not to pick bottoms and tops for that matter. We want the part in the middle. Hero’s like to say, that they picked the top or bottom of the market, all of which will really get you nowhere. How many losses did you incur before you finally got it right?

Which brings me into yesterdays post. Being able to concentrate and focus on market rhythm is key.

———————————————————————————————————————————————

It is of the utmost value to learn how to concentrate. To make the greatest impact on your trading, you must be able to concentrate your entire thought process on the venture at hand. The person able to concentrate, utilizes all constructive thoughts and shuts out all destructive ones. Concentration makes the will and intellect act in unison and means strength of mind, exactly what we need as traders.

Don’t underestimate the power of this trait. If you don’t have it, you need to get it. The power to control your mind, and the thoughts that come into it. If you build up your ability in this area, you will see your trading improve, I guarantee it.

When you have learned to master your thoughts, you will be able to change them as easily as changing your clothes.

I am offering a free 138 page “Branded Book” from “Sniper Day Trading” on the subject above to anyone who asks for it. I will have a link on my website up in the next couple of days, with instructions on how to get it. If anyone is interested and wants to get it now, just email me your request and I will get it to you asap. I can email it to you, so you will get it right away. Don’t be shy, just send me an email and I will send it to you, no obligation at all. If you have any trading questions as well, just jot those down too, and I will give you some good trading insight. If you just want the book, that is fine.

I am trying to bring value to my readers with real benefits that they can use in their trading everyday. Don’t pass up the offer.

———————————————————————————————————————————————-

Below is a chart of todays trades.             

No related posts.