Over the years, both subscribers and visitors of my blog have been amazed by some of my posts about the trades I provide. Even though I emphasize that it is potential of the tape, I must also assert that it is the the preparation of the trader which allows for the maximum gain.
Some days the tape allows for more than others, it is the preparation what helps us see what the potential may be, or if the tape will unfold as expected. Targets are not pulled out on the fly, targets are calculated some would say, but targets are often the feel of what is to come regardless of the news or mathematical probabilities. As in life, it is the history of the tape that most reveals the likely future. Often this supposed "eyeballing" still worries me at times, but time and again, when I try other methods, I return to what continues to work for me.
I can blog, twit, and post the targets hit as I go along but what people do not see and is impossible to twit, is the preparation it takes to hit those targets and for which there is no substitute. My prep work takes time. It doesn't take calculation, but it takes quiet, retrospect, introspect and trust. Trust is the most precious part of my system: to trust what I see, to execute it when I see it, is still at times the most stomach churning, especially when it comes to trades like PCLN and GOOG today.
Trust is my dance partner, my leader in the dance and hope is the temptress that will steal him away should I let go, making hope my biggest enemy in this delicate dance called trading. Without trust, I 'm left alone on the dance floor to be jostled about by other partnered dancers, losing direction and watching as the temptress is laughing at me from the other side of my trade as I slink off the dance floor in shame.
But hope is not alone, hope has a partner, whose name is fear, working it's evil magic just as successfully should I let go of trust. Where hope is the temptress that prevents me from letting go of a trade, fear is the doom-sayer which prevents me to enter one. No matter how well planned, if I glance away from my partner's trusted eye, and continue the dance surefooted, doom-sayer is ready to trip me. Should I second guess, or, for too long a moment pause about trade, I lose my posture, opportunity is lost and I have to endure doom-sayer willingly mock my mis-step.
Trust is tested every day and is never well enough learned. Trust in a system that works is where success begins and is able to flourish. Mastering this delicate dance, sometimes slow and sometimes fast, takes place daily on my dance floor and I hope never to end the music that accompanies it's delicate steps.
Happy Trading, Living and Dancing
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