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The pendulum seemed to swing from one extreme to the other over the past few days, going from unjustified lack of confidence to unjustified overconfidence. For some reason, the trades from both viewpoints seemed to work. The ones I was more afraid of were better than the ones where I had less fear. What is that? Why is there more question in a better situation, and less question in a worse?
The markets have days where up is down and down is up. It appears, so do I.
Possibly, I hold onto memories from the times I feel I should have done something different. And those memories color future potential recreations of similar opportunities.
"Similar", but different. And the coloring obscures the difference.
Experience may be better at telling what not to do, than what to do. If the outcome is always completely random, experience can only possibly protect us from downside, but has no power to deliver us to upside.
Most days my bias is what make me money. If I don't have an opinion it sure makes it hard to trade. My broker won't allow me to be both long and short the market at the same time
The real issue is when we get stuck on that opinion and don't let what the market is telling us shine through. That was certainly where I fell short today. Fortunately I kept my risk tight and the damage is minimal. Live to fight another day if nothing else.
The 120 is simplified today. The weekly LSP is holding so far, resulting in an intermediate double bottom. The daily still holds the potential for a move to the blue zone for a W5. Up, or down, those are the choices for the day so far.
I sit here and laugh today at the confusion in the markets. Bipolar on 5 minute intervals...
I am a buyer above the double bottom, but not sure where yet. Sitting net 54 from the open, may require ES to test low, not sure. Lots of schizophrenic price movement right now and not interested.