When you become comfortable with uncertainty, infinite possibilities open up in your life. It means fear is no longer a dominant factor in what you do and no longer prevents you from taking action to initiate change.
-Eckhart Tolle
Wow! Tom Brady may have just delivered the greatest quote I’ve ever heard.
“To be successful at anything, the truth is you don’t have to be special. You just have to be what most people aren’t: consistent, determined and willing to work for it.”
The ES has been moving upwards in an orderly manner, pausing at the Fib extensions along the way. The bullish momentum is taking a breather this evening but should resume during RTH tomorrow. Watch for divergence to warn of pullbacks. Those will offer opportunities to buy.
Mercedes-AMG PETRONAS F1 Team and Lewis Hamilton will part ways at the end of the 2024 season. Lewis has activated a release option in the contract announced last year.
Trading 101
1 setup
- Practice
- Memorize
- Be the best on that setup
Execution
- Focus 100% on your setup
- Think in probabilities
- Forget other people's opinions, trades, comments
Consistency
- Don't stop executing
- Learn from your mistakes
Never forget trading is a long journey.
The ES responded badly to the CPI data that was slightly inflationary. The equity markets were hoping for more soft data for Fed easing. Watch the 60 min RSI. If it breaks below 40, then the price could drop to the demand at the 4740 area. #futurestrading#stockmarker#es_f #sp500 #trading
The ES is pulling back after yesterday's rally. If the RSI on the 60-minute chart stays above 40, then the price may rally again. If the bearish momentum takes the RSI < 40, expect more downside price movement today.
After last week's price drop, the ES looks like it is ready to rally again. The daily chart broke the uptrend, but did not create a downtrend yet. Watch for a break below 40 on the RSI or a lower high in the price to be made. Intraday, the 60-minute trend is starting to show strength.
In 2030, you will thank yourself for:
- Learning to read price action
- Learning to control your emotions
- Learning to never give up
Great things take time.
Keep going.
Greed is the #1 trading killer.
You win 1 trade.
You win 5 trades in a row.
You win 20 trades in a row.
And you start:
- Increasing risk
- Going all in
- Breaking rules
- Thinking you can't lose
Stop focusing on money.
Start focusing on risk + execution.
That's when greed goes away.