Interesting chats with traders today …about the Great British Pound ..the GBP moved 500 pips yesterday and another 400 pips today…I missed the entry early this am..it was running without me ..so I stalked it on the retrace I knew would come…yet everyone I chatted with was calling it short..near the bottom …I’m thinking go ahead chase it ..but is it a high probability entry ..not by my ey

No matter what we think is going to happen we have to be able to toss our egos aside and trade the tape. My signals last night changed on the gap down and once we broke the the 30min 50sma along with all the weakness in the financials I shorted the market and stayed short all day. Traders have to be able to adapt and take what the market is giving them.

“Hi, Brasil!” “Any trades today?” This sentence makes me laugh the most. This comes across on the chat room window, and I know, usually 95% of the time, I’m dealing with someone who doesn’t understand trading. In only two words the writer indicates as much. So I’d respond,”Good morning, pipmaster!” Its usually a name like this or “bankin the pips”. You get the idea.