1/Trading Wisdom Thread for free (you are getting what you pay). Most/all folks have 'do your own research', 'your own due diligence,' or 'not trading' advice in their headers. This morning I passed on some advice and missed a trade. We need to be Ok with that.
2/ @ag_trader is one of the best on #fintwit and we sometimes trade in sync, though he is much better. This morning he posted short ($NQ_F) at 12,580. This is the 1-minute chart since then, he nailed the AM top.
3/When he posts something and I don't see a similar set up I start digging into my stuff and comparing notes. The 15min P&F 3-box reversal was coming off multiple buy signals with 3 +targets; too bullish for me to short against.
4/Other 15-minute constructions were extended and the 5 & 60 minute charts were also positive. I stood aside, watched, and learned. @ag_trader is kicking butt on the short side up nearly 100 points.
5/Why does this matter? My biggest lesson in 2019-20 is I need to improve my psychological and emotional edge to get FOMO under control. This morning is a classic setup where year(s) ago I would've been angry, trying to trade to catch up, but this AM I sit calmly and learn.
6/First: I am excited for AGT to make a good trade. Not angry I missed one. We disagree sometimes and always respect each other. Great for him to get a hit this morning. There is no place for anger about others' good fortune. There is a lot of BS #fintwit hate posting.
7/My system and discipline is working. I checked the trading blotter and I've not had a down day in ~2 weeks. Just because I wasn't in on this trade doesn't mean my stuff isn't working.
8/There are more good trades coming, there always are. No reason to be angry or fearful. Do not try to 'make up' for the one I missed. Let the pitch come to me.
9/There are incredibly sharp folks on #fintwit sharing valuable knowledge, but when it comes time to pull the trigger we have to do our own homework and stick to our guns. Hope this helps some others with their psychological/emotional edge.
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