Part of becoming a competent trader is getting to know yourself. To shorten the learning curve, it makes sense to find others in the industry and study their ways. Usually this method results in success early on. Being completely new, you attribute the success to your mentor.
For a while this might work, following the lead of someone else. Once you think you have a grip on the method you may decide to take your own trades. You experience success.
A lack of friction early on can be trouble because it invites your ego to show up. Your ego will tell you how brilliant you are. It will also be the first to pile on criticism when you slip up.
Ego will also propel you to take a trade when you have no edge whatsoever. “But look at that guy–he is cleaning up out there! You’re just going to sit here!?” Marcellus Wallace puts it bluntly:
“That’s pride fucking with you. Fuck pride.”
I have no edge coming into the week. After 4 weeks of bias (the first two bullish, then bearish, then bullish again) the model I use went neutral.
There are no major economic events this week either, unless you think the Consumers Price Index can jolt the sleepy indices.
Writers note: if I am overlooking a major upcoming event that may move this slow market please let me know in the comments below.
Perhaps you have an edge coming into the week. Low volatility trending markets might be your feeding ground. That is great, you understand your method and need to execute at your best right now.
But will you have the courage to do nothing when the time comes?
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No edge, apart from only playing the edges.