Well, to use a Star Wars analogy, the force was certainly not there today. The market was waiting and waiting and waiting for news today with sideways chop. I squeezed out a few ticks, Kiki got a a few less as she had an extra losing trade.
You can only take what the market gives. On days like this there can be a tendancy to force trades. Forced trades are losing trades. I need to feel the wind behind my trade or I won't put it on. It has taken a long time to develop the discipline to keep out when there is nothing to do. If you look at the trades today, they were all entered at about the same price. That tells the whole story. The MP really is what protected us today. As the structure developed it was clear that for there to be any real money made today, there had to be a breakout and another distribution. It's dinner time here in London that didn't happen, so the trading day for us is done.
Unless there is some major news overnight or tomorrow, we'll get more of the same with Turkey Day in the U.S. on Thursday. We are not going to trade Thursday or Friday unless the Dow Euro 50 on Eurex shows signs of life in the mornings. I hope to post some thoughts on those days anyway.
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