I have a lot more time to write this post today for multiple reasons but the biggest one and the one I am going to specifically talk about in this post is that currently the market is not conducive for my type of style.
According to my process the daily charts need to have A to A+ set ups for me to participate. Currently there is no such thing in the market. We are in more of a ‘C’ territory market. Being able to recognize when you should be trading is just as important as knowing what a technical chart is. Without knowing the conditions in which you thrive how are you going to be consistently successful? The answer is you won’t. You will end up giving back all the money you made in a conducive environment in a not so conducive environment.
For some people choppy markets are what they love because they can ‘play the range’ very well. Others (me) cannot, and we like a slower tape that trends in one direction or another. You must be the one to answer that question for yourself.
What type of trader are you? What type of market conditions do you like? Not like? How will recognize this? And finally, how are you going to improve?
Once you figure you this out, the feeling is like letting out a large sigh of relief because you do not need to know what happens, all you need to know is whether or not you should be in the market and how.