Hey Guys,
The market is continuing to show strength and signs of a rebound. The S&P 500 is above 5,150 right now, which is higher than last Friday's close and well above the "blue line" I showed in the chart last week. There is momentum going upward right now, and that strength might be a good sign for our trading approach.
There have been no new trades yet today, and I only took one trade in my main account last week.
As always, my goal is simply to stay in lock step with the back-tested approach. And what back tests show is that there are plenty of periods where there are very few trades, just like the one we're living through right now. I'm totally ok with that because my goal is to mimic the returns of the back-tested approach, so wherever that journey leads me, I'm following it. The last thing I want to do is take a trade if it doesn't have an edge.
Interestingly, some of the feelings that come up during periods with no trades can be just as tough as feelings that come up when there are trades. There can be feelings of anxiousness or "missing out", among others. It goes to show that our trading journey is made up of more than just the times when we're taking trades, as the time in between trades is also a key part of the experience. I've learned that I have to live through it all in order reap the potential rewards of this trading system.
If you have any questions or feedback, I'd love to hear from you.