Market Analysis for Oct 20th, 2020

EQ > IQ In The Greatest Game On Earth

By having no fear of the market even after a losing streak/drawdown and letting your edges play out over the long run vs the setups you always take..then you are truly in the zone. Mental fortitude, toughness and resiliency are some of the key factors that truly separates the very best in this game and the ones that are just okay. These things could not be learned from a textbook, it takes time and efforts of getting f'd left, right and centre and you know what? Coming back the very next day/week/month and act like nothing happened and you march on. Pain has to be endured in great amounts to fully understand and achieve the seemingly impossible success. I am an outlier as demonstrated throughout my trading career. I hope some things could be learnt, but I do understand that these things are easier said than done. Do you have what it takes to get f'd and come back the very next day to get f'd again and then take that same setup again with the same favourable conditions/edges? 

It doesn't matter if you get knocked away after a few punches, always have to be willing to come back into the ring the very next round and do what you were trained with and adapt with the punches. It ain't over till you've actually given up. If you give up your mentality already, you are destined to fail as there's zero hope. This is why I'm going to be more successful over the long term and reach greater heights and how I’ve accumulated wealth + the necessary skillsets in the greatest monetary game on earth. Losing money doesn't faze me, what fazes me is making shitty rookie mistakes. You must be better than that, overcome and accept your weaknesses and leverage that into a winning proposition when the tough times come. You don't run away, you keep grinding cuz that's all you've been trained and accustomed to. Keep on rocking comrades. BTW, I'm going to be a USD billionaire or die trying...there's still zero doubt in my mind.

(excuse my language, it's just easier to get my points across. I used to swear like a sailor as well)

Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.