Discipline Tested

Today will test my discipline, my patience and my commitment to system trading. That is because my system requires me to go long above 5175. I will do that but very very reluctantly. I am scared to go long because the problems of Greece, Europe and US are far from over. We have been ridiculously moving between hope and fear. I fear that this hope of the last few days is based on the FOMC meeting today and if nothing spectacular comes out from that meeting-and nothing spectacular can- then we could see a fall again in the markets. I cannot avoid these fears because I cannot avoid reading and hearing from the ubiquitous media what is going on in the world of finance.                

Despite all these fears, I have to bring my considerable experience in trading into play and take the BUY trade! I have to put aside all these fears and trust my system. I have to have the discipline to take the long trade despite all my fears and despite the fact that my fears could be right and I could end up making a loss on this trade. It is difficult but it is the right thing to do. I can do nothing but fight the good fight by taking the trade that my system throws up.                                                              

The market has opened even as I write this note and Nifty futures are trading slightly below yesterdays highs. Maybe there is still some hope that I will not be required to take a long trade that I do not want to take. And yes, in case the long trade at 5175 is not hit then I will go short below 5105. Currently, let me remind you, I am flat.