Friday, 23 March 2012

Passion into Profits

I was surfing around this morning as part of my usual morning ritual and came across a story about a 15 year old kid who started a business in the U.S. selling truffles.

The headline said "Obsession" but the story spoke about "Passion". I truly believe that you need passion to excel. Loving trading, I think, is a pre-requisite to success. Without the passion it's hard to put in the thousands of hours needed to excel and master this business.

Today is a critical day for stock indexes. Will we continue the retracement down or was yesterday the pullback in the up move? The close may give us a clue.

In the mean time, I'm trading the trend on my one chart per market. I don't care about the trend of any other chart as it's not relevant to the trend I am trading. Any additional information only delays decisions and clouds my mind although, as I have repeatedly said, I create a vision or "bias for the next part of the move. I am not married to my vision as it's just as good for me if the opposite of what I have envisioned happens. "The dog that didn't bark in the night".

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