Day Trading is like Fishing!

I see a great similarity between day trading and fishing. You figure out where you are going to catch your fish, set your line, and wait patiently. It’s the same for the day trader – you have to wait for your setup before you strike. Impatience must be curbed.

When you do strike, it often feels like an explosion. Suddenly it’s all action. 

Sometimes you catch a big fish, sometimes it’s a little one. Sometimes the fish gets away.

Today I netted a little one.

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I went in with 3 contracts, made 1.5 points on one of them, and 0.75 points on the other two – three points in total. Total time in the market was just over 5 minutes. Of course, I had targeted about 20 points, but when price didn’t move there quickly I was happy to be out with a small profit.

 

 

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