Good evening all…I hope that you have managed to absorb tonight’s video uploaded to youtube and that you are all well?
Most of the patrons who have been with me for a while know why Tuesday is an important day of the week. For those who are new, I want to welcome you to Traders Reality Patreon…Your Trading journey hopefully starts here.
And a side note: The patrons who have been with me for a while…Are the most helpful…I try my hardest to respond to as many comments, but know that there are guys and gals in here that can also help…Ultimately, this game is a lonely experience…Let’s change that.
Tuesday is the start of when true intention by the market maker starts. Tuesday is the day where they establish their intention in light of the psychological high and low from the start of the week.
We call this day the Hunt…
We hunt for the development of patterns and behaviors by the market maker which in turn will help us understand what to expect in relation to where the price is likely to go next…As discussed in the video tonight, our decisions are all based on probability and we have to be ok with that. Why? Because if we are in a trade that is going against us, we will have enough information to say that the trade is wrong because the probable outcome of the move is less likely to occur….
Acceptance of probabilities is fundamentally where you need to try and get your mind familiar with…You have a 50 50 chance of a move playing out in your favor, so odds are pretty decent in the first instance, however, if the trade goes against you, percentages tend to have a different impact. See we can accept that we have a 50 50 chance of success yet why would we allow our capital to go in the red by 50% before we decide to close it…
See it like this, if you were to sell something, naturally, the person would want to see if he can get value from you so will ask if you can go cheaper? They will say 20% you then return 15% he then comes back 17% and you both finalize with 16.5% ……
Have the same mentality with your trading capital…What discount would you give yourself? or for better logic, what discount would you give the market maker if your trade is in the red? Would you give the market maker 20%? Hell NO…
It’s all probabilities my friends…
See on the Hunt…
Mad Love
T
