After the Labor Day holiday, the varsity starters will be back at their trading desks fresh from the Hamptons and ready to kick ass. You can bet that they will be itching to get back in the swing of things, and I suspect that they will be ready to pounce on retail traders who are fatigued from a long, choppy summer. If you have endured this tape for the past several months without much of a break, it is crucial that you show up on Tuesday mentally focused.
I expect trading volumes to increase, and there is a decent chance that we will see a break of the increasingly ubiquitous trading range, in either direction. Thus, you had better bring your “A” game. I will be back tomorrow and Monday with more in-depth analysis of the market. In the meantime, below are several videos that I have chosen which best exemplify the broad concepts you should be revisiting before next week.
Preseason is over, folks. It is time to step up when it really counts.
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Red Auerbach on the importance of being practical and versatile. Applied to trading, you need to be able to have many different tools in your box. If you are a one trick pony, you will have a tough time being consistently profitable, since the market is so dynamic. Also note the significance of confidence in great players in terms of rising to the occasion and “being clutch.”
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[youtube:http://www.youtube.com/watch?v=DtN8VeHbSRE 450 300]r_________
Bob Knight on the importance of not making bold predictions about the future, just for the sake of it.
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Winston Churchill on the unconditional commitment to keep fighting and never surrender.
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[youtube:http://www.youtube.com/watch?v=Utv9rCHlpkM&feature=related 450 300]r_________
Bill Parcells on the importance of knowing–and being true to–yourself.
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Tired of feeling like a scrub while being treated like third class steerage when you fly commercial airlines? Here is the motivation to keep banking coin with The PPT.
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Pat Croce on staying positive.
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Finally, as a reader of iBankCoin and/or Member of The PPT, you need to remember to behave like a gentleman (or lady) at all times, or else face consequences for acting disrespectfully to the authority on this site.
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Lookin forward to Tues Chess! Great vids- Thanks for all the hard work bro and enjoy the rest of the weekend
Cheers!
Great post chess. I always appreciate what i learn from your blog. Gonna prep. Even harder now for tues.
I’m not tired but then again I don’t trade for a living, I counsel urban middle-school kids. Compared to my real job, trading stocks is an engaging diversion.
Same here flyaway. Managing my little bullshit TOS and Scottrade accounts is more a mental exercise than life or death for me. My goal is to use those accounts to shave a couple of years off my retirement age (ways to go). A few peaks and valleys over the next 20 years are not that big a deal in the grand scheme of things.