BambinoFlex wrote:Today was a good day. My longer term trading is not doing well. The trades are profitable, but me holding them is the problem. Take UCAD for example, I was targeting the missed monthly pivot...but on the way to that target...price will go up and down multiple times...what’s a good reason to hold until and “if” I get there? When I can take buys and sells along the way? I was reading one of MOs post where he said about building a boat and making gains that rise to the heavens...but he said something along the lines of “you can still take profits daily” what does he mean? That you keep your bias the same and just take profit and then reenter?
MO:
*"Stacking is worth more than holding"
*"You risk your money with the promise of a larger reward, you know what the larger is"
*"You might use charts but you make money using numbers "
*"What would happen if your first objective of the day was to absorb 2 lines?:
Day 00: $25/line ($200 in the box)
Day 01: $31 ($250)
Day 02: $39 ($312)
Day 03: $48 ($390)
Day 04: $61 ($488)
Day 05: $76 ($610)
Day 06: $95 ($762)
Day 07: $119 ($953)
Day 08: $149 ($1192)
Day 09: $186 ($1490)
Day 10: $232 ($1862)
Day 11: $291 ($2328)
Day 12: $363 ($2910)
Day 13: $454 ($3637)
Day 14: $568 ($4547)
Day 15: $710 ($5684)
Day 16: $888 ($7105)
Day 17: $1110 ($8881)
Day 18: $1387 ($11102)
Day 19: $1734 ($13877)
Day 20: $2168 ($17347)
And that is just stacking the first trade of the day!"
The boat = Accumulation and distribution baby!
MO "Don't try to predict what will happen next, simply aim to consistently apply your ideas."