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Friday, February 23, 2018

Tandem Trading OLED recognizing a mistake

I  know Tanner@TaoTrading for a quite a long time, great trader, but very secluded and private. It took me a while to convince him to go public on twitter, and to share his great skills in trading particularity day-trading for longer intra-day time frames, and also scalping small caps as well as larger caps while small caps are dead as in this dull period of January and February, of this 2018, the ninth year in a row having the markets grinding higher and higher into all time historic heights.
I myself got on tweeter long tie ago, to share and to find "trading sole-mates". It is unfortunate that after meeting a lot of great people traders , not too many survived this game , and many vanished for good. Sad but true. Trading is a very lonely job, super mental, and can be very frustrating if you trade alone. Having a good knowledgeable trading buddy, who is not only good in reading technical analyses but also being objective, self criticizing, and who can observe realistically the trading situation on minute by minute basis is crucial.While we are  having  a great green streak in February, we do tend to get a bit complacent,   but the good news is when having a trading buddy , one can always remind the other about this dangerous  state of mind COMPLACENCY,
I want to point put my mistake today that even after Tanner@TaoTrading called out loudly the error we were both about to make, we still disobeyed our the read  out of the tape, price action and the volume , that stopped stripped me from making a nice $2,000 green day . So writing publicly about this error,  I find it beneficial not only for myself  but also for those traders who may read this blog post. Since picture is worth million words, without further due here is the picture explaining what happen with OLED the trade of  the day

OLED short failed to take profit on entire position 
at LOD

When you do a good TA read out ACT upon it accordingly, do not wish to happen what you anticipated , such as drop to 125.00 because the market DOES NOT owe you anything that you wish or you want or what  you are anticipating, he cares less for you and your $2,000 !!!