Two of my trading heroes talk about Support and Resistance and Risk Control

"When you are fully focused on doing what you enjoy, you are in the flow, and it is then that you are most likely to make successful decisions free from doubts and insecurities."

Shane Murphy, Doug Hirschhorn

The Trading Athlete: Winning the Mental Game of Online Trading, (2001), Wiley

Hey! I can't believe the year is almost over.  I had decided not to trade for this whole week. Yes, it is the holiday season but I know the markets are still trading! And yes, I am still watching $EURUSD for any potential moves.

Waiting for a setup is really hard to do.....

"You can succeed in trading only when you can think and act as an individual."

Alexander Elder
Trading for a Living: Psychology, Trading Tactics, Money Management (Wiley), 1993

Waiting for a trade is one of the hardest thing for me to do.

Here I am (at the start of the London session - 09:15GMT) ... sitting on my hands. Trying very hard not to jump into this beautiful $EURUSD swan dive. It's painful watching all these pips go past.

I am consulting my crystal ball today....

"Don't think you can predict the effect of an unexpected event on the market. Stand aside and wait for clear indications...."

Catherine Davey
Making Money from CFD Trading : How I Turned $13k Into $30k in Three Months

Yesterday, my friend and trading mentor Rob, asked me if I gazed into a crystal ball before I put up my charts. My mind immediately conjured up images of me with a gypsy costume with the flouncy off-shouldered dress. Complete with the hoop earrings and bangles.

Taking that leap of faith with $EURUSD by doing what has to be done.

"Know what you are going to do when the market does what it is going to do."

Michael W. Covel.
The Complete Turtle Trader, Harper Collins, 2007

Excuting a trade is a bit like jumping off a ski slope. 

Sometimes you just got to leap off that slope when it shows itself to you. I was sitting and watching $EURUSD just before the London open. Bossilator reading was at 350.

Here's an Idea on How to Keep Out of Choppy Markets

"It is absolutely necessary to have an edge."

Jack D. Shwager
The New Market Wizards: Conversations with America's Top Traders [Paperback] 1992

Wouldn't it be nice if you could get money to flow into your head continuously? Or else, maybe I could get ideas that would make me money all the time - instantly.

Fear and an Earlier Counter-trend Entry on EURUSD 1Min ...creates a Reverse Trifecta.

"You can use your fear as a cue to examine your trade more deeply and adjust your confidence in the idea, up or down."

Brett N. Steenbarger
The Daily Trading Coach: 101 Lessons For Becoming Your Own Trading Psychologist, 2009, (Wiley Trading)

I have been working hard at reducing fear when I take my trades. Fear creeps up on me - usually after a losing streak. Come to think of it, even after a winning streak because I am wondering when I will give it all back.

Swimming upstream, and following the flow of the market.

Salmons swim upstream, re-adapt their bodies to fresh water and then they spawn.

My trading life is not as dramatic as the Alaskan salmons. I certainly am not looking to spawn and leave my body as bio-fuel for my kid. I just want to collect some pips. But there are times like today when I do change my spots and go with the trend.

In all honesty,  I was waiting for a counter-trend trade...