By Guest Contributor, Michele Hurlbut
Good Day All!
For those of you who went to the Hawkeye Seminar in Charlotte, I envy you. I was unable to make this one and hope to be at the next one!
I’m sure your learning curve was parabolic just for having attended. Even though I could not attend, I am continuing to learn.
This Week’s Lesson
What I learned this week is… Patience is Key!
What do I mean by that?
Learning to be patient and to wait for your setup is the KEY to fulfilling your trading dream! You could say Discipline to wait is key but I like the positive reinforcement of saying Patience is Key.
We could go into the subconscious mind and how it works but that is for another time…
Practising the 3-Step Entry Method
Today I worked on the Hawkeye 3-Step Entry method. As you may have read in my past blogs, I have chosen this entry method to learn and perfect in Simulation before risking my hard earned capital.
So today was a day of practice and patience.
A picture is worth a thousand words!!
Learning to Wait
As you can see from my chart, I was not always patient for my set ups.
Part of it is the learning curve of remembering the entry criteria and the other part is pure impatience. I have a known problem with that and so am working with the Hawkeye software to curtail it.
There are two entries where I was ‘anticipating’ (yes, my other problem) where I thought the market was going and so I traded into the belief that I know more than what the volume indicators are telling me.
Boy, was my hand slapped on those.
Practicing Patience
Thankfully, properly following the entry criteria and sticking to it showed me that being Patient and waiting for the proper set up is Key to a nice profit.
Tomorrow, and the days that follow, will be more practicing my patience until I am strong in trading the 3-Step Entry Method. I hope you practice your patience also.
Great trading everyone and speak with you again soon.
Join Randy in the next free LIVE Hawkeye Demonstration Room held every Wednesday at 9.30am EST US. You will learn more about volume and volume price analysis and see more examples and live trade setups. It is open to all.
Click this link for more information or to join us in class.
Learn to trade the Hawkeye way.
Randy Lindsey
Hawkeye Traders, LLC
