2011 was a difficult environment for equities trading and there is nothing to indicate that market action in 2012 will be any different. The only thing that has changed with a new year is that we all start with a fresh scorecard.
I have no predictions for the markets in 2012, instead my focus will continue to be only on the things within my control and hope that I get some good luck along the way. Some of the more important things I will try to do to better for my trading in 2012 include;
– Keep an open mind for new market scenarios based on what the current market conditions dictate.
– Stay focused on price action (Only Price Pays!) with a general awareness of the macro issues which are important to shaping the psychology of the markets.
– Be well rested, in good physical shape and approach each day with a positive attitude.
– Manage risk obsessively and wait patiently for the better setups to present themselves.
This list could go on for a while I suppose, but the longer the list, the more difficult it can be to hold oneself accountable to. I hope that everyone who reads this has a phenomenal 2012!! Thank you for valuing the work I do here.