Speculator/market observer. Discipline, patience, & self-observation are my work. USAF Vet/Aviator ✈️ 🪖 🔫 🇺🇸 Politics are for those who are asleep. Wake up.
Protests in Albania are exploding for a seventh straight day like nothing before.
Thousands of Albanians are refusing to surrender their land to Jared Kushner’s elite private island wish.
They are also demanding the immediate removal of their prime minister for colluding with Jared Kushner and Israel.
"Albania is not for sale."
If you guys remember last November-Feb the environment was tough.
I ran a poll on X asking everyone "If you hadn't placed a trade since November, would your account be higher or lower?"
I believe 80% said higher.
Before that, the previous 6 months in the market were pretty easy to get traction in new positions and make progress.
Then all of a sudden everything still looked similar to your eye but things felt way tougher. Stops hit a lot, breakouts failed often, and most of us placed a lot of trades during that period only to grind our accounts down because the conditions shifted.
The first reaction when this happens is thinking you are doing something wrong. You question yourself and your strategy but most likely your entries are fine, the setups are fine, the market environment just changed and environment is more important than any setup.
The first 2 weeks of this recent uptrend you could buy anything and it was up 20% the next day. Good entries were rewarded, bad entries were rewarded. When the environment shifts even the best setup is more likely to fail than a bad setup in a strong environment.
I have no idea how this plays out but after last week I feel like its likely we chop for a few weeks at least, which would be healthy if this uptrend is going to continue.
If we do chop around, theres probably going to look like unlimited opportunities similar to the past few weeks, but it will be harder to make progress.
Things will likely feel tough even if they look good and its important to use that as feedback to slow down instead of thinking you are doing something wrong all of the sudden, getting frustrated, and giving back $ you made from April/May.
If we chop for a few weeks and then have another leg higher I'd expect it to be of similar strength as the last 2 months. That would be another window where making progress is easy.
My job until easy windows open up is to not dig a hole while waiting. Chopping yourself up hurts your account and your confidence so when the easy window is back you end up hesitating.
At the moment I think this is healthy pause within a massive uptrend... maybe that changes... but it doesn't matter how it plays out if its tough to get traction and my equity curve is going down I ease up and raise cash. If things start to work and feel easy then lean into it.
Environment > setup.
Before you start thinking ur entries are bad and ur doing something wrong step back its probably the environment.
I dont think this is another Nov-Feb market we will enter atleast not for as long, just using it as its most recent memory of difficult for most of us.
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@MmisterNobody Big boys taking a profit. Finally. With all the upside we’ve experienced did everyone think no one would eventually take their profits? Imagine how much the early buyers were up.
I went 36 hours without checking the account to enjoy my birthday and happy to report it was only 60% of the hit that I mentally prepared for 🤣
Consolation was going on the train ride with a friend who I know was down magnitudes more on TSLA.
"If he can not care so can I."
@NicHulscher Americans no longer have any power in the United States. No one voted for or approved any of this. The will of big tech supersedes us all.
Yesterday emphasized why cushion and not chasing is so important.
If you’re someone who bought leaders a 4-8 weeks ago and had a cost basis advantage, yesterday didn’t hurt as much as the headline numbers imply as most stocks retracted ONE weeks worth of gains.
Where traders get in trouble is when they start chasing high flying stocks when they’re extended after historic runs.
Looking at the one month return of most of the stocks that got crushed, they’re still up significantly.
Don’t chase. There is always another opportunity somewhere, whether it’s in the leading stocks or emerging potential leading stocks.