Saturday, January 22, 2011

21/1/11 Weeks End

Has been a great week moneywise but is that the point of all this. Foremost should always be focussing on the methods, the process.
This week I picked up one more gem, it was something said by another VSA trader. Its one thing to theorise the supply and demand balance and something totally different to have practical methodology to take advantage of correct reading.
The method in question treats signal bars as a bullish or bearish depending where price action is situated either trading above or below the extremity of the bar.
I think I can develop this further by adding my volatility multiple to give earlier entry points . The distinct advantage of this is being able to narrow initial stops and therefore increase position size without increasing initial risk.
As for the markets, the coming week could be the week to show the way for the new direction move which has been developing for weeks.
I need to be patient and wait for the confirming signals. This is my biggest problem lately, as the skills have improved the time I have to wait for the market to react is lengthening.
This week might be all about waiting for opportunity to come to me, patience patience patience

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