a confluence of events....

[#1]

so there's two things going on which could see us have a 300 pt or so rally later this pm....FTSE will be dragged across 6500 kicking and screaming...and we have a reverse head and shoulders on the top 40 ....target 28400...note I say may as none of these things have come to pass...

[#2]

lol c

[SimonPB]

this is were it gets interesting as everybody is talking about this reverse H&S and I always worry when everybody is on the same boat?

[Brazen]

I know no one cares but I feel bearish. I also get worried when people use words like confluence.

[#5]

dont worry...just trade it...we cannot predict if the boat is too full...just make sure you stand near the liferafts ...

[#6]

clearly everyone is not on the same boat....u are both living testimony....

[SimonPB]

nah well tis moot, I don't do short term stuff. Just funny that 4 forums are talking about this reverse H&S

[#8]

have u been promiscuous again - whoring around the forums?

[#9]

and so it came to pass...

[Brazen]

And so it did. Showing, yet again, you must never trade feelings. Well, not on the market anyway.

[john_1]

I will trade you 550 fears and for 234 happy fuzzies

[#12]

Yes, Brazen I would go even further to say that if you have strong feelings of any kind you shouldnt trade....this is a very important part of trader psychology....what I mean is that you should be in touch with the way you are feeling at any particular point in time and never underestimate how they can obfuscate reality...when you are angry/sad/depressed or whatever it is better to take the time and go for a walk in the forest or whatever....I was once again reminded of the need to do this when my laptop was stolen from my house last week....the next day I traded and I was angry/disorganised ....I started the day with a sense of loss which I wanted to rectify...I wanted the market to make me feel better (give me the money for my new laptop) and all I did was force the trades and guess what...i lost money....when I look at the trades I made it looks like someone else was trading my account that day...your mind is your ultimate tool ....it had to be in the right state...

[john_1]

Absolutly.

[#14]

What i have learnt is that Patience get you winning trades.What looks good today looks even better tomorrow or vice versa.Look at ang,gfi,agl, charts see how long it took for a turn.If you were patient long enough and fast when the turn came you r in the money.I bought sta in all above early yesterday (also a lot of luck)

[john_1]

Chartist please explain to me how the overnight trade in the ftse was so negative when the asian session was all green, 25% of the FTSE is Oil ..I just dint get it!

[#16]

this is of no significance...just look at the close....they were not all green by the way...

[Brazen]

Yip C, spot on about frame of mind. And I like your thing about getting on the ship but staying near the liferafts. In fact, I think I'm gonna steal it.

[#18]

I forgot to add...you need to be sure they work as well...that ship is still quite close to the shore and you could most probably still get on board with a ferry...

[john_1]

Looks like those boys who don't sleep got it right( ftse)