Letting the market come to you.

Posted on March 29, 2011 by Eli Radke • 5 Comments

Talking to a client on the phone today:

How has trading been since you got back from vacation?

Really well.

Awesome, what do you think is the difference?

Just really relaxed, I let the market come to me.

Two things.  First, being able to just let the market come to you should be easy.  It is not easy because you have not accepted the consequences of not getting filled or may be getting filled.  Secondly, chances are you are down at the time of a good setup.  You are in it for the action not the money.  It could be, who you want to be and how much you can afford to be are not aligned.   Letting the market come to you may not be your game but it is a good skill to have in your arsenal.

Part 2

 

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  • Garbis Megerian

    how do you let the market come to you when there are no decent pullbacks for months. Just like since September 2010?

    • http://blog.mytradingnet.com Eradke

      A pull back is in the eyes of the beholder. Have to have some concept of what you are comfortable with in terms of risk. At the same time it is easiest to risk too much when you feel like you are missing out.

  • http://twitter.com/EdouardLevesque Edouard Lévesque

    Patience is a virtue.

    Good point, some days might be boring, but it’s not a reason to ”create” action.

    @EdouardLevesque

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