At an undisclosed location in the North Atlantic 1,000 feet below sea level, during the height of the Cold War. A game of cat and mouse was unofficially being played. The table stakes for this round: the fate of the world and the pride of two super powers.
As the US and USSR played a deadly game of chess, it was the nuclear submarine commanders who held the power. At their disposal: high-powered sonar. This told them everything they needed to know about their whereabouts, the enemy, and how they needed to maneuver.
In today’s market, volume acts as your sonar in telling you everything you need to know about value and price. It provides a long range perspective on where you should camp out to stalk entries. And it delivers the real-time intelligence you need to confirm high-probability kill shots.
Your investing approach should be a mechanical, methodical execution of disciplined trading rules so that a successful process can be repeated over and over. Patience is critical to wait for only the best of the best dynamic market opportunities.
Through dealings with clients, friends, and relatives, I’m often reminded that technical analysis is alive and well. Human nature never changes. This is great news for us technical traders. We can use this propensity to our advantage. Let’s explore this further.
“What’s wrong with me? Why can’t I do what I’m supposed to do? I keep telling myself to stay calm and patient – let the trade come to me. But, before I know it, I’ve jumped into a trade that, I recognize later was never a possibility in my plan. But I did it anyway.
It’s Sunday afternoon, your team is in the playoffs and the hair is standing on the back of your neck. Once again, they’ve grounded and pounded an agonizing 80 yards over seven minutes to find themselves knocking on the door again.
Will they get it done and come away with a TD and 7 to keep this close? Or will they eke out another field goal, essentially wasting all that time for only three points? The game hangs in the balance and time is running out.
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