Patience Is a Position – Here’s What I’m Watching
Ahoy there, Trader! ⚓️
It’s Phil…
The markets continue to be a lesson in patience.
Tuesday saw price drop directly into my no-action zone.
That means exactly what it sounds like: nothing to do but sit still.
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SPX Market Briefing
There’s not much else to say today other than this:
- 📍 I’m still bullish.
- 📍 I’m still waiting.
- 📍 And I’m not hedging just because things look slow.
Price dropped into a zone where no trades are valid for me.
That zone? It’s the one where hope lives and edges die.
It’s where traders get twitchy, clicky, and sloppy.
Not us.
Overnight futures are up roughly 15 points – but that’s not a reason to act.
No pulse bar.
No breakout.
No urgency.
And just as importantly…
📉 We’re approaching the lower Bollinger Band again.
What does that mean?
It means if we see a bullish setup, I’ll likely be jumping on it – not running for hedges or panic trades. In this case I do not need a new position as I already have a position but it will prevent me from needing to hedge immediately again.
Until then?
📌 We wait.
Because the trade isn’t always a position.
Sometimes it’s the discipline to do nothing.
Expert Insights:
Hedging too early when your core setup hasn’t triggered.
🧠 What Happens:
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Traders confuse “quiet” with “danger”
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They hedge defensively, not strategically
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They interrupt good bullish bias by pre-empting the chart
✅ Avoid It:
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Let the setup prove itself
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Wait for confirmation (e.g., pulse bar, breakout, volatility shift)
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Don’t hedge boredom – hedge breakouts, breakdowns, or booked profit
Meme of the Day
“He who waits… keeps his theta.”
Happy trading,
Phil
Less Brain, More Gain
…and may your trades be smoother than a cashmere codpiece