When the Monthly low is not established, buying for a swing becomes risky.
When the Monthly high is not established, selling for a swing becomes risky.
When the Weekly low hasn't been created yet, short-term buying should be avoided.
When the Weekly high hasn't been created yet, short-term selling should be avoided.
When the Daily low is not identifiable, taking short scalps towards it becomes high-probability.
When the Daily high is not identifiable, taking long scalps towards it becomes high-probability.
Roger Federer dropped some real wisdom in his Dartmouth commencement speech:
He won nearly 80% of his 1,526 professional matches, but only 54% of the points he played.
Even one of the greatest tennis players of all time lost almost half his points.
His lesson: Don’t dwell on every mistake. A double fault, a lost point, even a bad day, it’s just one point. The champions move on quickly with the same focus and fire for the next one.
This is one of the best mindset lessons I’ve heard in a long time. It applies way beyond tennis.
Life is full of losses and setbacks. The difference between average and exceptional is how quickly you reset and keep playing.
A sniper does not fire because he has been lying still for six hours and wants it to be worth the wait.
He fires because the conditions are met.
If they are never met, he goes home with a full magazine.
That is not a failed mission.
That is the mission.