Playing the Waiting Game

I am still flat from Tuesday the 13th of March.  I am being forced to play the waiting game as the market has continually fallen since then.  Overnight there was a big push lower when Asia reacted to Trump’s new Tariffs on Chinese imports, however, that was countered this morning by news of an overnight deal reached on government spending alleviating the possibility of a government shutdown.  The issue is the government shutdown might yet be vetoed by Trump as he is not happy with funding not being fully in place for his controversial wall. And even if he does sign it, it’s a one day news event, but the Tariffs thing will have a few more twists and turns in my opinion. There are days and days of news there. So, bottom line, I don’t think the low is in despite the snap back, but honestly, my opinion doesn’t matter, and I am have no attachment to being right, the only thing I follow is price, and price is saying its not over yet…at least that is what my system is telling me.

It’s always hard to be patient and be forced to wait to get back into the market, but there is no room for thinking. Only a system can keep you out of trouble and protect you from your impulses. Or even more stark from your bad emotional choices when its doesn’t do exactly what you want once you are in.  For example, this is exactly why 98% of day-traders fail and blow their accounts, it has nothing to do with theory and everything to do with emotions and the human condition, which you cannot escape.  For me, I just have to make sure my emotions don’t have any say in when I buy and sell.

Good trading,

John