Thursday, August 4, 2011

Gold

Last gold trade stopped out.  I also attempted to reverse....for a small loss.  Then went long.  Anyhow, long is my bias, and I am trading my bias vice waiting for a great setup.  I am long gold, and luckily my bias trade is setting up into a decent breakout trade of this saucer.  Not too happy with my trading.
I have traded my bias before, and it rarely works out.  So when do I bias trade?  When I don't see any proper breakout or breakout-pullback trades that I trade 99% of the time.  This is impatience and trying to outsmart the market.  There, self-critique complete.  Today is the day I become super duper disciplined.

As I finish this entry, gold is breaking out and rewarding me for being undisciplined.

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