“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting."
Those are the words, and wisdom, of Jesse Livermore, probably the greatest American stock trader...ever, a man who made his fortune in the markets of the early 20th century.
What does this quote have to do with the TSLA Short-Term Trader?
There are two times we sit: First, when we are on the right side of the trend and sit tight in our position while the trend works like an out-of-control ATM in our accounts. The second time we sit is when there is no low risk high reward trade to take.
The system is currently in transition mode, i.e., sitting mode. Having been stopped out of our latest trade with a small profit, we are awaiting a fresh signal.
So like in anticipation of the newest episode of Game of Thrones, we wait.