Wednesday, June 24, 2009

Back in Town/Back to Trading

Well guys,
Its been a week since my last post. We had a wonderful time at a wedding in FL but it was blazing hot and humid. It's so great to be back in S. California, and great to trade once again. I was a little concerned that it might be hard to get my trading groove back, but I started the day with a nice trade - without missing a beat.

I have long been preaching the value of developing your pattern recognition skills by snagging pictures of your charts and annotating them with your observations - day in and day out. Well, I started trading rather late today and as soon as I got to the screen this pattern immediately screamed to me: "SELL".

It really does become automatic in time. Bill Duryea (of IOAMT) says that you need to see a pattern 100 or more times until it just locks in what it is telling you. There is suddenly no figuring it out. The pattern just talks to you.

I have become so comfortable with my charts as I have set them up. They literally talk to me now. So, once again, I highly encourage you to set up a Chart Book and do your pattern recognition homework daily. It absolutely (and literally) pays off.

I welcome feedback and comments on how you have set up your Chart Book and how it is effecting your trading.

Hope it helps,


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