The Blood Must Be Bought, But How?

I have become pretty frustrated over the last few days, fighting the tape I suppose, by attempting long trades in the wildly unpopular high growth sectors.  One after another I am stopped out, and that is even more the case because I am playing tighter stops than I normally use.

It is time I shorten my timeframe and play some high quality intraday action.  Not the low quality stuff, not the boredom trades (guaranteed death), but only the finest setups back tested over 10 years of intraday data and refined and traded 1000s of times until the actions become nearly mechanical.

I am going back to my trusty old setup, the one that took me from piker to competent, the thrust-pullback-thrust.  Very potent, very simple, I will be exercising it on the broad Nasdaq because individual stocks keep cutting me up.  Over the course of the summer I will plan and rebuild some core intermediate term longs, but for now I need to regain my confidence in trading.  Trading, the single endeavor I enjoy more than almost anything in the world.

First thing first, an OCD clean and reassessment of my desk.  Second, some simulation for the duration of this month, and finally a plan of operating hours, intention, and how I will share my results with the fine people of the interweb.

It’s about to go down.  Insanity is doing the same thing and expecting different results.  I am right on the brink, as always.  Godspeed out there folks.

http://youtu.be/4wrfQMAyjeI