Market Blues 12/07/2021, Moving Forward
Hello, and welcome to the Market Blues video series it’s Thiru Nagappan here founder of Master the Markets, Elite Trader’s Conference, and the Traders Open Day.
As you know the purpose of market blues is to keep you out of the Monday blues, and that’s why it’s called Market blues, it is to keep you at peak performance level and start the week for the trades ahead. So today’s topic, traders is on moving forward. As most of you know from watching over the weekend the England match, I know that was a bit tough for all of us to watch, because we were in the lead and then after a while, we lost the lead and finally lost the penalty shoot out. Now, how in scenarios like that do we still keep our focus and forget about the past, and keep moving forward. I know it can be a bit tough. But how would actually do that in fact is so similar in trading as well isn’t traders, because you know, you may be at the front of the screen today or tomorrow thinking your trade setups and before you know it you might take some losing trades. Perhaps you forget about the losing trades and come up fresh tomorrow to be in the present moment, to capture the best market opportunities that may appear in front of you. So how do you do that and keep moving forward and looking forward?
The first thing first, we have to ask ourselves what is actually moving forward? If I were to define it, I would say:
1.Letting go of forgetting the past
2.Keeping your focus in the present moment and in that focus in the present moment, you’re focusing on deep goals ahead so that the future, which is the course of the future is then pulled forward to the present, and you’re reducing the time gap.
So that’s what I would say, what is meaning. Moving forward. Letting go of the past, focusing on the person, towards the goals ahead, shrinking that timeline such the future becomes the present.
The second thing then is you may ask, why is it actually important? Because this most of you know is quite obvious, I mean dwelling about the past which is already gone, just like the England football match, that we had in the Euro Cup. It’s already over. I know it’s a bit hard in terms of the emotions to let go but rationally it’s overtime is gone, we have to move forward. And therefore, when we can train our minds, to let go of the past very quickly focus on the present, and look at it for the goals ahead. Now, why would that be very important because it saves us a lot of time and conserves our energy? Okay, so as keeping our state energy levels high and our state-level high, so that we can bring the new feature into our present moment. In fact, one of the best stories that I can remember on one of the really great sports icons has done this is actually Michael Jordan,
If any of you would have heard of that story Michael Jordan for some of you who do not know who is the greatest NBA legends, basketball legends of our time. And you know there was one particular basketball match when they were depending on Michael Jordan’s last final three-point to shoot out to win the match, and there were only about 15 seconds left to go. So it was left to him, and he had to take that winning shot. And guess what. That shot that he took didn’t fall into the net. Chicago Bulls lost the match. And you may wonder okay, that’s quite devastating just like the match that we had probably the players need to rest a little bit to come out of it. But what Michael Jordan did was pretty exceptional. Most people at least if they are really quite good, will rest at night then the next day starts fresh or maybe a week after. But what Michael Jordan did was the night itself as he went back home, rather than brooding the laws, he put his back down in the house and went straight to the basketball court to start training for the next match. See, he just followed the three principles, call the past quickly focus on the present, towards the goals and bring the future, back into the present moment. So you can see how powerful these principles are and how people among us the greatest athletes and sportspeople and even traders have actually put this into practice but this requires work and a lot of training on the mind.
So how do we actually do this traders, as I said a couple of ways? First of all, letting go of the past is easier said than done so we can do a few practices. One way that can definitely bring you back to the present is your own breath. So I’ve mentioned a lot of times before you can even go to a few organizations which are very good at teaching you how to control your breath to bring your mind, to the present moment, immediately and letting go of the past are the organizations that I highly recommend is the art of living, so you guys can really look into that. So breath is one way where we can let go of the past and focus on the present. Another way is through knowledge, knowledge of who you are and who you’re not. So by that way to the witnessing principle which is what we have spoken about before you can also let go of the past, and get focused on the present, as you connect with your presence. In fact, in one of the videos we’ve talked about we talked about the three P’s for success and I’ve talked about this as well, so you can look at that later on. Finally, once you have grounded yourself in the present where the past cannot exist, then after that, you do the visualization exercise of the future and bring it back into the present moment, most important thing in visualization is the feeling the emotional intensity in which you connect the future, bring it back to the person, emotional intensity, emotional feeling you inculcate. Okay, so this is what I would say in terms of looking, and moving forward and especially as traders for us it happens very quickly, we’re going to move forward in terms of the next trades which will help you push your equity curve up as we cannot miss chances.
So just a quick recap, we understood what is moving forward we look at the trade principles here. Why should we do this, it’s quite obvious the reasons for that. And the third thing is how we can do that once to the breath to witness principle through knowledge and find the visualization using emotional intensity. So definitely reflect on that and look into it. This will be very, very useful for you going forward on your trading journey.
So, let’s take a look at the markets today very quickly for the week ahead. So as you can see over here. In terms of dollar swiss at the moment, we are having an uptrend. And as you can see over here this is actually open equity, more to the downside goes to say the first interruption, was to say a little bit more to the downside before it resumed on its trend, So the next thing that we can also look into is dollar-yen as you can see, there is open equity how to diminish you to the downside, there’s a turning point coming up. For those of you who want to capture the turning point first level to look at the high of this IP minus one. All for those of you who want to go tighten your stop losses on grinding this move down IP plus one to date.
In terms of JP USD US open equity towards more to the upside before it resumes on its downtrend, Eurodollar on the other hand more open equity to the upside as well. Aussie dollar on the other hand, what we have traders today, more open equity I would say to the upside, and it’s diminishing to the downside to VPN es, more connected for upside with this confirms a trade on Bitcoin on the other hand stagnation over here as of now, based open equity houses consolidating the first level to capture turning upside would be dead at that level then obviously, opening purchase diminished downside. Brent oil, on the other hand, is definitely more open equity to the downside. I would say, upside it’s losing its momentum gold, on the other hand, open equity downside, if it takes on this low over here, this.
See more continuation of the downside. Footsie 100 Open equity to the downside. The first level I’ll be looking for to continue is for this level to break over here. Now, Dow Jones still going strong at 38000, taking on this last high over here. It just took it out after its downtrend move, so still, quite strong SMP similar is broken out of that range order and carrying on for the higher. Silver, on the other hand, $26 to stagnating a little bit open equity varies it towards the downside I would say the first level to break is the low of this bar.
And finally, we’d definitely open equities diminishing to the downside for more high probability for turning point coming on.
I guess that’s pretty much it for me on today’s video on our Market Blues topic on moving forward and in terms of market updates.
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I guess that’s pretty much it for me for today. I believe we enjoy this quality information that we keep putting out there in the mission to spread the truth of trading, since 2010.
Alright, traders, that’s all for me for now and as we always say till the next time, stay disciplined, follow your trading plan, and keep trading, like a master.