We all live in loops.....

We have decided to stay another day in Vegas since we are having a great time seeing shows, shopping and of course.....THE FOOD. So many places and so little time.

I was thinking, not sure why, about loops....not fruit loops but loops....ROTFL. In Trade Station when you want to trigger a trade that has setup, but then you got an inside bars, well you have reference back "X" number of bars...as long as it is printing inside bar after your setup bar.......that process is called looping.

But I got to thinking about the prop trading room I was in on Friday watching and talking to some of the traders there. I am been in trading rooms in Boca, Ft Lauderdale, Orlando, Chicago over the past year or so and there is a common thread amoung all of them and it's has to be looping.

Well, you know what goes around comes around....my circle of friends....the circle can't be unbroken...and on and on. In our business, it's easy to get into a loop or circle...and endless circle at times. Those of us in TradersHaven for example, are a tight little group trading one way so to speak, then you the Duke of Wood who has his followers trading another way and there are hundreds of these rooms on Paltalk, MIRC, Present Express, Hotcomm, Yahoo and on that goes. Each believing they have it all figured out. But in the real world, a big as the Woodchipper was before "THE CHEESE" blow his doors off....only 10, maybe 15 ever heard of the room must less anybody else....they were in their own little loop with their own fellow friends or traders.

Back in early 2003, I found the Woodwinder, by accident, I already had developed my style of trading, had my trading plan in place along with my money management and trade management but I had ever looked at the indicator because it was available in every software package out there ...and for FREE.....but the idea of using this indicator AFTER you entered a trade against price was a God sent. You have the perfect setup, it triggers and you enter the trade......then WHAT. Well, if the price doesn't move while the CCI moves.....then the odds of this being a successful trade goes down big time. So by using it to just measure the momentum coming in against price worked like a charm. Now I don't like the Bollingers Band at all, but it can also do the same thing. Once I had figured out what was actually going on, I had to personally back away and as time has moved forwarded, what I talked about in April of 2004 has become clearer then ever and many others have also moved into other loops.....

I currently have several loops that I travel in every day....my family, the church crowd, couple of charities, couple of little people and their moms, contractors and workers, UT sports, music, and those who I know trading. I also believe that it's important not to find yourself in just one loop,......it's important that you don't just watch the news, sit at your computer trying to trade and don't go outside and met people and be involved in other things. First, I think you might become a little paranoid...and second you might obtain a false bias or opinion that you will try to express in the markets....that is deadly for sure.

BobCathy was right in one sense, except she really didn't know me personally when she told me to get out and talk to people.....but that is OK. I'm sure the information she had at hand might also have had a slant on it or a hidden agenda.

Everyone wants to know how to find the holy grail.......but the HOLY GRAIL is not in your charting package.......It's entirely something else, and once you find it....NO ONE CAN TAKE IT AWAY.....