Professional vs. Amateur

Quickly: An update (as of 11:05 a.m., EST) on the short position in the SOXX.

Early session had an exit at the Hard Stop SOXS 9.46, as planned.

Then, price action as it sometimes does, began to exhibit behavior akin to a wash-out.

The short via SOXS, was re-established SOXS 9.70, with a new Hard Stop @ the session low of 9.42 (not advice, not a recommendation).

Perfect vs. Professional

Years ago, Dr. Elder talked about how the professional may try several times to get the entry he wants.

The amateur will only try once. If he gets stopped out, it’s as if a parent (the market) is giving him a whack for being wrong.

It’s a difficult psychological barrier to overcome but you’re witnessing it in real time 🙂

Charts to follow in a later update.

Stay Tuned

Charts by StockCharts

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