Daily Plan 3/15
One that got away
Hello traders,
Another interesting trading day today with us being able to catch the CPI dump in the mornin
Then I did something momentously stupid.
I was able to short the top but got stopped at Breakeven and then had to head out for a bit and missed the waterfall.
Post that I was able to catch 41 short for 10 points or so but seriously a huge miss from my end. However, many subscribers were able to get 40-50 points off the trade so I’m glad about it.
In other news, Thorchain($RUNE) was up nicely after spotting its unfairly low price yesterday and GC shorts paid almost 20 points.
As a trader, I know all too well the danger of succumbing to the fear of missing out. Heck, I have done it countless times. It's easy to get caught up in the hype of a waterfall short and throw caution to the wind, chasing prices and taking on unnecessary risks. However, I've learned from the wisdom of NN Taleb that this behavior can be ruinous. Giving in to FOMO can lead to outsized losses and missed opportunities for long-term gains.
Instead, I've come to understand that consistent trading requires discipline, patience, and a strong emphasis on risk management. Rather than following the herd or chasing prices, I prioritize a carefully considered approach that takes into account both the potential rewards and risks of a trade. This means resisting the temptation to jump in headfirst and instead waiting for the right opportunity to present itself.
HOLD UP! How did you react to the above paragraph? Or you skimmed it and just want to read the levels for tomorrow?
Think about it.
Moving on,
Levels for tomorrow:
GC:
Our short 1919 from yesterday worked nicely.
For tomorrow these are my levels:
Primary directional inflection point: 1909
For Bulls: 1921.3, 1930(unlikely)
For Bears: 1893 1876