Tuesday, March 24, 2009

Downtrading

I reviewed my trading activity since i started again this February. Prior to that, it was a year since i made my last trade.

Within a month, i've made about 10 trades already! Looking at the rate as well as the quality of trades i've taken, that's an area i can greatly improve.

My greatest lesson here i think is of Patience. I need to teach myself to sit more on the sidelines and only act when the timing is right.

- Wait for prices to approach trendlines
- Have a clearer perception of how the indices are trading (bull or bear)
- Always have at least 3 confluences (trendlines, candles, RSI, and/or Fib ratio)

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