Markets sold off today as many of the major indices are beginning to hit resistance and begin consolidating. We should trade range bound here and will soon find out whether we break to the upside or downside. Markets are above upward trendlines which is still positive but being held down by either the 200 day MA or early May highs.
My stocks have held up well in this market and are either flat or slowly trending higher. I've really hit it out of the park with KCL.TO (+75%) and PDN.TO (+50%). I've also done well shorting USD/CAD (+25%) and I will further fade any rallies.
In this shaky market, you have to be patient with your winners. If you weren't, you probably would have sold off way too early when the market indicated that the upward trend was still intact. I have been working hard at emotional mastery and discipline and it has paid off well with some very big winners!!
Looking back at a few of my past holdings, I noticed VCI was trading up at $6!! I bought this back early April around $2.30 but five days later I was out of the stock and made a small profit. So why did I sell so fast? Because I got emotional and noticed a bearish engulfing candle on April 20 so I wanted to protect my gains. However, this was not part of my trading plan and I made a quick emotional decision. Did it cost me? Yes!! Because if I would have just been a bit more patient, I would have been up over 160% now on the stock!!
Like I said before, there is no room for emotion in trading, if you need a friend go buy a dog!!
My stocks have held up well in this market and are either flat or slowly trending higher. I've really hit it out of the park with KCL.TO (+75%) and PDN.TO (+50%). I've also done well shorting USD/CAD (+25%) and I will further fade any rallies.
In this shaky market, you have to be patient with your winners. If you weren't, you probably would have sold off way too early when the market indicated that the upward trend was still intact. I have been working hard at emotional mastery and discipline and it has paid off well with some very big winners!!
Looking back at a few of my past holdings, I noticed VCI was trading up at $6!! I bought this back early April around $2.30 but five days later I was out of the stock and made a small profit. So why did I sell so fast? Because I got emotional and noticed a bearish engulfing candle on April 20 so I wanted to protect my gains. However, this was not part of my trading plan and I made a quick emotional decision. Did it cost me? Yes!! Because if I would have just been a bit more patient, I would have been up over 160% now on the stock!!
Like I said before, there is no room for emotion in trading, if you need a friend go buy a dog!!
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