Chopping Up My Mental Capital

**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**

“The mind is everything. What you think you become.” – Buddha

The action remains very sloppy which points to lower prices but I’m having a hard time getting into shorts that allow me to stay in them.

I’m keeping stops quite tight in this uncertain market and that is forcing me to take several small losses these days which is frustrating.

All in all, I warn often about keeping your mental and real capital intact and this week is taking a toll on my mental capital.

I’ve tried several trades but have been stopped out for small losses or small gains with really only my GOOGL short from 793 working well.

I’m not really losing any money but being wrong hurts the head.

SPY February 5, 2016SPY remains between the 190 and 195 range area so I’m not planning on doing much until this breaks one way or another.

I’ve got to stop trying to trade and just focus on the daily charts, who are not showing me much at the moment.

Enjoy your evening and deserved weekend to come.

Warren

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