Yesterday’s follow through displayed how quickly the mood can change. At this juncture however, it is very important for traders to remain very patient while they wait for prudent set ups to come their way.
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Deep inside the streets of Tickerville lurk some of the best traders in the game today. These ‘Citizens’ don’t attempt to gain public fame by broadcasting their phenominal results, they simply come in each day looking to grab their share of what Mr. Market has to offer.
Higgs, as he is known, is one of the best day traders I know. Here is his story.
Now that the commodity rotation is playing out, what do traders look for in order to wade back in? Well, after taking firm doses of patience, Quint takes a moment to discuss it.
As the market rips and marks day 1 of its rally attempt, it’s time to grab the notebook and do some homework.
Traders who have been participating in the market for longer than a cup of coffee inevitably go through rough patches. I would equate these times with that of a baseball player going through a slump, or a golfer struggling on the tour. It starts out with a few errors, or a couple trades that don’t go your way, but ultimately grows and develops through your own mental struggles and emotional hurdles.
