i suggest that successful trading requires a certain level of two things: cognitive intelligence (IQ) and emotional intelligence (EQ).
We use our cognition to 'plan the trade' and our emotion to 'trade the plan'.
the greater these two skillsets are, and the more in balance they are with each other, the greater the chance of trading success and ultimately trading mastery.
in my view, right now the NQ is too far extended above its uptrending 8ma (red line) and its uptrending 20 ma (beige line) on the 15M chart to enter long in the mid to upper 1650's...looking for NQ to correct some more in both price and time...
currently considering re-entering in the high 1640's - low 1650's during the 10-1030 time frame....this price level is also at a previous pivot...
TRINQ very strong, but the NASDAQ A/D line is just above flat, so mixed readings from the market internals...
'Securities Trading from Both Sides of My Brain' explores a dual aspect of securities trading: planing the trade & trading the plan, alongside a dual aspect of the mind: cognition & emotion.
I have been actively trading the US Capital Markets since 1996. I earned my living from 1999-2010 by profitably trading for my own account. I have recently returned to my IT roots, but still continue to trade my IRA. I love talking about markets, so feel free to leave a comment.
10 Weekend Reads
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The weekend is here! Pour yourself a mug of Colombia Tolima Los Brasiles
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I have shown many times in the past that Fed Days tend to carry a bullish
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Tuesday’s sell...
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