Always Working A New Angle

Raul3 Mon Mar 2, 2015 4:19pm EST 3 Comments

Let’s not kid ourselves—chasing momentum has been a selective endeavor. One cannot simply spray and pray for 1 or 2 winners. That game is break even, at least the way I am playing it. But the winners can still pay down the losers and pay the trader who is refined and selective and has some clear expectations.

If you’re finding the market is not hitting your mark, perhaps temper your expectations just a tad.

I am often working a new idea. When you spend a big chunk of your time objectively observing the minutia of an auction you develop subtle insight into it. It is divine, but often you have to develop new tools and strategy as you go because what works one week is tapioca pudding the next.

Some people go mad over the uncertainty of it all. But if you develop some core fundamentals, boulders, then build around them you can express yourself creatively and see immense benefit.

My newest avenue is working 8:30am data announcements. Like this morning’s Personal Consumption figures. The market is often docile before stocks open, yet you know there is an elevated likelihood for news to bring in order flow. Therefore, you sit and watch for a setup to try and grab onto a wave before it flows in.

A few times this leads into trading through the open with a position on which will spur even more order flow. If you have some confidence trading the opening swing, you can earn an honest living by 10am.

Then, if you choose, you can spend the rest of your day roaming the streets collecting cans, explore other business opportunity, talk with family and friends, etc. Life choices become are real necessity, not just something you dreamed about from your prison cell (cubicle).

If I can make more money in 2 hours then I used to make in a week, why work the entire day? That’s just greed.