Stuck with a bad position -- Short Time!

waiting to get involved

Maybe I am getting wiser after doing this for 30 years or so? If so why do I often still get sucked in by the flashing lights and bells coming from my trading screens? It truly is harder to wait for that fat pitch than you think. I love to swing the bat.

For me, over trading has been my nemesis my entire career. I have admitted I have a problem. For me it is the lesser of two evils — Analysis paralysis will never happen to me!

How do I fight the urge to press buttons because my time is finite?

I strive to be in front of my screens during the most liquid times and times of possible event risks. I keep detailed statistics on how and when I win or lose. To me that time is everyday from 2:30 am until noon eastern standard time. It’s a complete day where you see the majority of the world’s economic data. Don’t hit me up that early, however, the chances are I won’t be there unless the market is hyper-focused on something released during early Europe.

I strive to be there from 6am until noon everyday. You get a feel for Europe coming into the release of North American numbers and for the European close.

Below you will see a chart of the Vix. There are definitely more opportunities for a trader when it spikes higher. I like to also tune in a lot less when it is below 15-20 ish.

chart from Bloomberg

I think the market is in the process of shifting from bad news is good news to bad is bad. These narrative shifts can really be P/L meat grinders. I am trying to keep my powder dry until Powell speaks on Weds., PCE Thursday and more importantly employment on Friday.

Good Luck

ANDY ROONEY QUOTE "I've Learned Life is Like a Roll of Toilet Paper" - the closer it gets to the end the faster it goes!