I wanted to make a salient point about yesterday’s trade environment. If you had challenges implore you to go back and study the day.
A few things to learn…
What was your control chart, when and why?
Right after the open I called c3 as control.
It was clear early that Chart 3 was setting up a pattern that fit our pre-market and HTF analysis. By using the RD Trade System higher time frame analysis rules we correlate the larger bias and momentum of the market.
It was also clear that momentum on the buy side was strong.
What do I say often?
Don’t argue with the chart. In addition, we were employing the 3 Questions (3Qs).
See my call on the control chart was one way the system provide clues. The thing is you could have gotten there via other targets and reaction zones we use within the RDTS.
But there was something that struck me. Many who responded to my control call kept saying insisting that there was going to be a pullback. Also, after a bit of time many were amazed at just how strong the momentum was, if you look back at that day, rarely did price ever break the fast momentum check.
I saw quite a few people consistently surprised MOMENTUM LONG held all day. You should never be surprised, if fact, you shouldn’t even care.
You need to work on being agnostic to price.
There is no such thing as what is logical price and illogical price.
Price is Made Up
Price can never be too expensive or too cheap
I speak from a position of being trapped in that thinking for a long time
Some here are still emotionally attached to price.
How do you solve that?
Work on being indifferent.
Treat price like a person who has screwed you over time and time again. Eventually you say enough is enough.
You say enough of this drama and eventually you could not care less what that person is doing and eventually you give zero Fs about what they are up too.
I’m not saying don’t track price and don’t believe it, I’m saying be indifferent
I know this is a challenge a few Alphas here still have to burst thru. I’ll work on a training mindset video that will help solve this issue.