I seem to share the same bimodal state of mind that most traders do:
- DISGUST: hating the market. Not wanting to participate. Lightening up. Not wanting to take positions. Taking cash out of my account so as not to expose it to risk. Basically chickening out.
- REGRET: Realizing my ideas were great but not being in position. Wishing I had more at risk. Beating myself up for being so timid.
I have moved from Phase 1 to Phase 2 with tremendous alacrity this week. Rest assured, I am in Regret mode, mainly because I moved 25% of my account into cash last week, and there it has stayed.
Speaking of regret, my insistence that the Metals ETF (XME) is bearing serious fruit for some of you (but not me!!!). This is PRECISELY what I was anticipating. Here’s the minute bar chart:
Here’s the daily view.
Story of my life. Brilliant chartist. Awful trader. Same as it ever was.
