like.
‘Your TradingDiscipline is your"safety balloon" thatprotects your capital
Aspiring NewDaytrader
 
S====>>>
Pro marketmakers andRipoff high-priced chat roompump anddumpers whowant your money
 
 
Finally, develop a Disciplined Trading Personai Action Pian:
Let's look at making a plan to help you develop the discipline you need to succeed Get out a8 1/2 11piece of paper and list the following:
+ Top 3 reasons why I've lost money in the market trading overall+ Top 3 things I've done right recently to either take a profit or limit a loss
List of 3 techniques | am going to start using to be more disciplined in my trading (eg tapingreminders to monitors, putting trade confirmations on the wall, Keeping a brief weekly trade Journal)
One thing | will do to reinforce or reward myself for following my trading rules and disciplineEg buy yourself lunch on days that you followed "the rules"
One thing | will do to ‘punish’ myself for not being disciplined and breaking my rules. Trysomething fun, like "make yourself eat something you don't like on days you don't fallow the rules"Simple but effective behavior mod tips that work to shape trader behavior to be more successful.“@PREVIOUS NEXT
Back toMODULE 3
Module [he Mentai Game of Dayana:Three
« Minimizing Losses and How to “Turn the Carner™
« Are you tired of losing money in themarket? A lot of “almost got it's? or“oops | really missed it on that one!"or “my broker's getting rich why aren'tpe
Here is a step-by-step process.designed to help you “turn thecorner” and stop losing, tobecome consistently profitabletrading in the market. | can'tpromise that it will happen for you, asthe real work (and profitfloss) issolely your responsibility These areeffective trading guidelines that wehaven't covered already, put togetherin a logical model that we hope willhelp you start sweeping profits off thewall street table
~~,
Start here:
Document
C
improve
T
Practice
*,
Educate
 
« The bad news? It's not easy. Nothingthat's worth having, like financialindependence, is ever easy. Tradingstocks is tough work You want to getrich, you have to work hard at iL. It can,and has, been done, by thousands ofother men and women. Why not jointhem?
The good news? This process isdesigned to help you take control ofyour trading outcomes and shouldhelp you identify and take action onpersonal trading areas forimprovernent. Cornmit to it for 2weeks and see how it does for you. Ithelped me get out of frustrating,frightening trade situations anddevelop a more experienced, relaxed,profitable professional trading style.
Trader's “TURNAROUND WHEEL” “*"”
\
Experiment
|
Evaluate
PolLet's look at how to successfully go through each step in the "Trader's TurnaroundWheel" to help recover on the road to profitable trading:
Document
It's well-known that “you can't improve what you don't understand". To understand how to trademore successfully, you need to begin by documenting some of what you are doingEven if they are very orief bullet points, begin by keeping track of each of these
« Decision criteria you are currently using to enter most of your trades (it's usually acombination of things), which of these are the most important to you: chart patterns/TA,momentum indicators like T&S, the price of the stock, the time of day, current news/cnbcmentions... Also make a note if you are trading on ‘hunches’ etc. vs technicals
Decision criteria you are currently using to exit the trade: do you have pricef%‘argets' you follow (eg a retracement or breakthrough goal}, momentum indicators,Money and risk management: this is an eye-opener, do a "post mortem" on your lastmonth's worth of trades. Whatis your average gain per trade and average loss pertrade? If we make that a ratio, what is it? Even money? 3 1 winloss? 1:3 winloss? whatare your stops and how smallilarge have they been? You know youre suppased todefine your stops/maximum risk before buying stock, what % of the time to you hold toyour stops?
Experiment
The next step is to clearly identify which parts of your trading you can experiment with (yourtrading “variables") and define different alternatives for these. You may find, for example, that youdo better at swing trading this year than in scalping/daytrading. That's fine. You need to find yourbest personal "trading style". Are you a cowboy? An analyst? Yvhat's your style?
The pointis that you should not get locked into one particular trading style, especially if itis notprofitable for you Also, you may do “just ok" at one type of trading but do much, much better witha different style Experimentation is the key Give yourself permission to "try aut" new ways totrade, until you settle on a successful personal trading style
Some cornmon areas to consider experimenting with in your trading include.
+ Which stocks you trade: Nasdaq/NYSE, Intemets, Sernis, Retailers, Biotechs etc
+ How many shares you trade at a time: Is your average trade size 300 shares? 10075007 10007
+ Your average time in the trade and what time of day you typically buy/sell stack.
« Your trading software, broker and trading environment Try a few See what works
Let's say, for exemple, that you picked up some bed hebifs in e chet raam and ere using Datekfo trade 500-share lots of junky stacks like ELOT. You've been losing. Well, fry switching fobefier stocks using our trade cnteria (Module 4), scale back fo 200-300 share tradas, fry buyingsfocks around 10 30 on deys ihaf open down (laoking af SCOMPOSSPX), and use cyber ormbtrading and esignal vs a free quofe service That stuff all makes a difference Try ouf what'savailable. And, you decide to make your awn irades and mute CNBC instead of following abunch of losers in 4 chat room.
Evaluate
This is the easiest part, | suppose. Evaluate your daily Profit & Loss, measured in dollars, and put itona graph. Use a spreadsheet if you want, plot your daily winflossOne thing | did that was helpful was to make a horizontal trading fractions checklist and placecheck marks near the amount of my wins/losses for each week It was a trermendously helpful tool;below is an example of what it looks like; just make a similar one and place x's on itto record eachtrade you've made each week.
WINNING TRADES
mofo ectte cbf cfer bebe dobre fee
   
NNON- WINNING TRADES
4 4 4+++ +—+-+—+-+—++ ++ ++t+-+-+-+-++
 
What else can you do to evaluate your trading success? Part of itis to keep track of youremotions while in the trade: did you keep hope, greed and fear down while entering andexiting in logical, mechanical, professional manner? This takes a long time to get right.
Educate
Virtually everybody who has lost a fortune has also read a few daytrading books. Let's lookat other ways you can get successful trading education:
» Observe a professional day trader in action - this is the best way, spend sometime looking over the shoulder of a pro (and don't distract him/her with too manyquestions). You may be able to do this at a live daytrading brokerage firm, or through atraining provider. NOTE: Be cautious of so-called "boot camps" that encourage hyper-active trading and then sell you a broker account as well; they just want you to "blowout" your account, giving them several thousand for the training and several thousandmore in commissions or commission order flow. They should teach you money and riskmanagement, using small shares, in slower-paced trades at first, not level 2 scalping50 trades a day. I've heard plenty of horror Stories. Check references thoroughly. Goone-on-one with a good trader, and require the traineritrader to show you hispersonal recent trade confirmations to prove he's a good trader
Learn from other traders: see if you can get a "Daytraders of (your tawn)" groupstarted as a waty to network and swap stories with others who trade
Seminars and workshops: I'm sure some of these are great and most are not.Check references and ask for the ernail address/ph# of others who've attended, andreally check it out. Dan't waste days of your life and $3,000 on something that isn'tgoing to help you. Carefully check the content outline of the seminar and see if it'sjust basic information you've already learned or if they can teach you advanced level 2trading techniques and chart patterns. Ask: how much time is spent on chart patterns,risk management and level 2? vs. the basics of "what's an index? how do you buystock?" types of topics you can find anywhere Many traders make for poortrainers; they have no facilitation/platform skills and thus do a lot of one-waylecturing vs. interactive activities. Check for the trainer's style: ask how muchtime is spent in hands-on interactive learning? vs. listening to a lecture. If allthey do is lecture, ask to buy their audiosideotape/book instead!« Spend at least 10-15 hoursiweek on your various learning activities (includingyour time at DTU}. You are attempting to learn a very complex and difficult subject:trading the financial markets has made some people wealthy and many people lesswealthy. It's a Zero-sum Game. Don't let positions go too far against you. It's fine to gobuy a bunch of books, but watching a pro trader is the best experience you can get.
Practice
Closely related to "experiment", you need to now try out various activities and tradingstyles to see which one best fits you as a trader. There is no "right way" or "wrong way" totrade es Jong as you make money cansistently.
« Do not try out too many ideas at once, you need to isolate and optimize each part ofyour trading to develop the best combination possible. Try a new softwarepackage/broker for one week, try trading a different stock the next week,
etc. practice until you assemble a successful trading style. Test it out.
Practicing with paper trading is ok, but I'd encourage you to trade live as soon asyou feel comfortable, because the "mental game of daytrading" is impossible tomaster until your money is on the line. Besides, slippage in real trades (eg tradedelays, computer problems etc} needs to be experienced as well. Just start o'f slow,don't worry about commission break-evens too much, just do 3-4 trades a day maxon 100-200 shares of lower-priced stock with 5% stops to test out your ideas &minimize risk “Capital is harder to replace than ideas are " (my quate)
Improve
Okay, we're at the last step in the wheel: improvement. It's a never-ending circle (or at least it doesn'tend until you retire wealthy from your stock gains, which you should plan to do now.)
Go back over each step of the wheel and ask yourself: what am | leaving out? what else do | need to work onto get my trading %ages up?
Improvement is measured by your ability to carry out successful trades, in dollars. It's your P&L at the end of.the day, nobody elses. Do not make dumb trading mistakes and give money to the other guy. He'll just gobuy beer with \t or something :}.
How, specifically, does one implement trading improvements? Start wilh the process measures [hatwe looked at above (number of trades, time in the trade, average P&L per trade etc). Then loak forincremental improvements, "fine-tuning" your trading skills until you arrive at the best combination. Ittakesa heck of a lot of persistence and an unwavering desire and personal expectation to succeed. | had nodoubt | could succeed atthis, it's just a matter of tme. The less tne it takes the better
Motivating Yourself to Trade Successfully Do something worthwhile with your gains, like help yourfamily, donate a bit to charity, whatever it takes to give you a motivation beyand the simple dollars You'll findthat when you're on a "mission for money" you can make great things happen, many of us need more thanjust the dollars to motivate us. | go out and buy hobby stuff, take the wife out for a nice dinner etc. as areminder to myself as to why I'm doing all this. Find your own motivators. Make it happen.Module = [he Menial Game of Daytraciing 4Three
“GPREVIOUS NEXT ®
Back toMODULE 3
* Celebrating Victory: Trading Rewards and the Daytrading
Lifestyle@ Main Points:
© To become a successful trader, you mustreally believe that it can happen. Many peopleexpect to lose unconsciously and thereforedo. You must overcome this.
* Please educate yourself 10 times beyondwhat you normally would to effectively tradestocks Buy at least 20-30 books ondaytrading and technical analysis, and reviewthis site often as well. Do not rely on stockpicking sites and chat rooms, unless theemphasis is on Why the trade was made.
By arming yourself with all of the knowledgeavailable et DTU and other good resources,you will significantly put the odds in your favorfor being 2 consistent trader.
© Read a lot of books, view a lot of tases and
develop your own treding style. There are no
“magic: chatt pattem" setups, there is arly
learning how to trade like a professional. This
takes time. Anycne who's traded longer than
2 weeks know that pros play against
amateurs who try to buy dips on higher highs
higher lows etc... thats why theres so many
reversals and headfekes out there in 1999-
2000 trading
percentage trading opportunities. Basic TA is
not enough to win, though it's a start.
There is a very long learning cuve involved in
trading stocks profitably - you need to
reinforce your effort, energy, and money spentin pursuit of leaming how to trade by givingyourself small incremental rewards when youdo things nght.
 
 
How do you celebrate victory? If youte likeme, you'd rather beat yourself up over a dumbtrade rather than pat yourself on the back formaking @ good trade.... perhaps it’s humannature.
You need Energy, and small rewards (liketaking yourself out to lunch or dinner, cr buyingthe letest trading book etc.) will help motivateyou to continue your efforts.
Do Nat reward yourself for a winning trade thatyou got by breaking the rules (eg doubling downcor holding through a long dip). In the long run,those plays will eal your capital.
Reward yaurself for being a Cansistent,Disciplined trader that follows a trade plan,whenever it pays off for you
You can meke a living trading by being rightmanage your money and risks properly. It's thetisk management piece that costs most peopletheir capital, not the trade entry side of it.
This lesson will walk you through sometechniques for reinforcing winning trading skills,that you are developing
Also review this link from the homepage for a biton “Daytrading Rewards"
What Motivates you To Trade?
Personal (Inside) Motivators:
These are things that are related to yourpersonal values and actions that get you“pumped up" to trade from within yourself.
Make a mental check - Which of thefollowing are most motivating for you?
POSITIVE
« Your sense of satisfaction frommexecuting a trade correctly
« You value not losing money,preserving your capital
e You want to develop the trading skillsto gain profits.
e You're motivated by learning newtrading strategies and skills.
External Motivators:
These are motivators that come fromoutside of you that reinforce your tradingskills.
Make a mental check - Which of thefollowing are most motivating for you?
« Money. Lots of nice tracing profits
« Anew place to live, bigger & nicer.
« A different car to dnve.
« Upgrade computer hardware
« New clothes
« Afford better restaurants No more99-cent food a
« Praise from farnilyffriends.
« Independence from having to workfor someone else to get a paycheckfor doing what they tell you to do.
NEGATIVE: + Geographic flexibility, being able tolive anyplace you choose, as long as« Fear, Hope, Greed the internet connection's good.« Sense that you need to impress family « Ability to provide better for yourand friends with home-run trades. family, give them nicer things.» Apprehension, worry, concern overpersonal trading skills What else motivates you fo trade better,
Tram outside?
Wha alse motivates you ta trade better,from inside?
Note: Although they may seem less impottant at first, t's really the personal motivators that often have themost genuine power over your results.
Figure out your targets and methods to acquire them before trading. Then figure out why you should careabout trading anyways.
Realize that a Trader is a Treder, eg you are buying and selling something, and you need ta become goodat prices. You need to become good at timing.
And, you need ta become greet at mastering your emotions and developing the skills that will enable youto compete with professionals. Never gamble or enter an uncertain trade. Learn to spot the high-potential
setups and play them, with small stops and small shares, until you become good. Then increase size andtighten up stops, to take more profit at lower nsk.
The Daytrading Lifestyle
Here are the four steps you need to get through to gain a daytrading lifestyle. How long willeach one take you?
It could very well be 2 year in each phase. Or it could be a matter of months in each oneIt's all up to you and your personal skills and temperament. The key is to make dailyprogress towards reaching each new step. Here they are:
1st - Stop the Losing: Learning to Trade2nd - Getting to "Breakeven-Trading"3rd - Taking Small Consistent Profits
4th - Trading in Size for Large Gains
THEN, you get to where youte:
I'm no millionaire daytrader playing with $200,000, | have a decent capital base | use tomake a living trading, and it works.
The key is getting thru the learning curve as painlessly as possible, while learningeverything you can, constantly taking notes and watching the market.Do you think that stock picking sites and chatrooms are useful? The educational onesare, but many are not. . learn how to trade independently of CNBC and chatroams. Theywere a huge waste of tine when | was first learning Do your stock screens with the freewiv bigeasyinvestor.com, use www. quotetracker.com to follow a portfolio of a fewhundred stocks, watch for breakouts and news etc
Living an independent lifestyle is very important to me personally, | think that living inhawaii fulltime and spending more time with my farnily is great - | hope you can alsoachieve your goals and profits by becorning a trader.
By the way, that's very important, to set in your mind's eye the self-image of youtrading stocks professionally, with an educated eye. You knew why you bought andsold the stock at the prices and times and share sizes you did. You weren't looking for amagic bullet or a "good stock pick" to follow. you learned how to recognize plays on yourown, and because of your continued hard, intelligent work you learned how to become astock trader. Not a stock-pick follower, a trader in your own right.
Please realize that it's difficult, | keep saying this because | see a ton of undereducatedamateur gamblers in the chat rooms who lose their money. After the April sellofffcrash thefree chat room members dropped by 30-40%! Wow a lot of guys went broke and are nowflipping burgers or something. Don't let it happen to you.
Lear how to trade professionally, not to try to make "lucky" tracles now and then. That'srubbish, and in the long run you'll lose, just like 95% of the people who go to Las VegasAsk any local, they don't gamble. They have to pay the rent. Vegas businessmen didn'tbuild those multirnillion dollar resorts out of thin desert air, they built the playground out ofthe public's lost money. The bank and financial centers are built in part from the tradingwinnings made at the expense of others as well. It's a leapfrog game. Don't be a garnbler,be an educated trader, and make some real money out there.
Your goal should be to make a living at this, or at least rake in consistent profits, weekafter week, Sure, ittakes hard work Is it worth it? Yes, if you have discipline, intelligenceand persistence. No, if you're lazy and want easy money No such thing.
PERSONAL REWARDS FROM THE DAYTRADING LIFESTYLE.
Finally, | want to ask you to take out a piece of paper and list out 10 things you want toachieve as a result of your trading activities. These can be financial or non-financial...anything that makes it all worthwhile for you
What rewards would compel you to putin all the enormous energy and work it takes to.become a professional trader? Vhat gets your enthusiasm up in terms of things youcould do with extra capital? Remember, that extra capital is won $300, $800, $1100 atatime, very rarely do traders take huge gains consistently, its the small consistent payoffsyou're after. You can only get that with a consistent Set of trade rules
Trade well and prosper!Back to
Tt Ihe Mental Game of Dayaraciing: MODULE 3
> Module Three: Worksheet 1- What to do When You Lose
+ The Powerpoint worksheet below can help you learn how toBee manage and deal with trading losses more effectively» You should complete this at the end of each day or each week.depending on your Individual trading syle and needs« Use it to help you deal with trading losses professionally,without getting discouraged.
 
What to Do Vi/hen You Lose - A Worksheet to Help
 
Let's face it - nobody wants to lose any Sometimes, though, especially when people are newmoney when they trade stocks. to trading, they may make mistakes and end upUnfortunately, this fear keeps people taking individual losses of over $500, which is harderfrom taking trading losses when theyre to deal with. Since that $500 loss is really $1000.
small and letting thern get too big. worth of buying power, with margin, it’s tough to tradeyour way out of that loss.That common amateur approach either
tes up capital in a "dog pound" of This worksheet is designed to help you wnte down
losing stocks that you need to held onto: some of you thoughts, your plans and ideas for
for months or years to get your money dealing with trading losses successlully.
back from {if ever), or permanent, large
losses. Small lossesi/stops are what! call “winninglosses" (oxymoron), large losses are what'd call
Learning to recognize and take smart “losing losses". Taking small stops is fine; You can
stops is a crucial key to successful afford to take many more small losses vs. several
trading. | mht take 2 or 2 1M &-pont big losses, right? Timing your entries to take small
losses before | get the bottom of a losses of no more than 2-3 spreads (usually 1/4 point
stock, from which | than get a 3/6 - 1/2 max for stocks priced at less than $50), ever, is a
po gain from, for example (in hallmark of the successful Nasdaq stock day trader.
scalping.
Let's look at how to deal with them professionally:
 
You should use this worksheet (or a similar one you make yourself} to help you analyzeand deal with trading losses effectively. This is a “mental/emotions” - handling type oftrading loss worksheet vs. the analytical/ trading stop-oss mechanics type ofworksheets found in the earlier Modules 1 and 2.
 
Notes on Trading Losses:
1. Frequently, when traders make a losing trade they feel a sense of loss of control, and tendto take things out on others, or on themselves through unhealthy habits. Regaining one’scontrol over the situation, and of a sense of commitment to keep on trying, is essential tobecome a successful trader.
2. Don't beat yourself up it's a very nor-logical market where events happen that make nosense. Don't try to impose logic on a nor-logical market. If there was an easy logicalscience te trading, everyone would de it and nobody would go to day jobs (and thecompanies whose stock we're trading would suffer (*_*).
3. The best science we can develop to improve consistent trading profits is what we'representing in DTU, all the tips and do's and dont’s of tracing stocks. Even then, the traders’emotions are their biggest enemy, as they cause losing trade behaviors Surroundingoneself with 4 trading plan, following the rules of the game, and making @ commitment toimprove your ability to slick with your trading plan is important.
Directions:
1. Print out a copy of the worksheet below and fill it out on the next 3 days that yousuffer trading losses, particularly if they are large (over-$500) losses. (hopefully you tooksmall stops, but you may have an occasional swing trade wravernight gap down and end up.closing a losing position at a loss)a e . Goal: Improve my ability to mentally handle the cisappointnentDealing with Trading Losses Worksheet } and frustration of trading losses in a helpful, professional way
 
 
Dollar Amount That | Lost: $Fraction/Points that | Lost:
~ . List3 Words That Describe How ‘ou Felt When YouRA De] Stock That! Lost Money On: __ Hit"Sell", Knawing that You Were Taking a Loss:
Number of Shares Traded:
 
Trade Analysis: Lessons Learned: My Personal Commitment to ChangingHow | Trade Similar Situations Next Time:
 
 
 
Why did you buy this stock when you did In retrospest, how would you This is the important part of the worksheet. Give some(cirels ons or more}: have managed this trads thought to these, and printitape areminder of them ondifferently then you did, overall? one of your monitors.TA: Saw a Breakthrough on volume+TA: twas Bouncing off a supportlevel Based on my trading losses and trade analysis, what ai+TA: Oher Chart Pattern THREE THINGS | RESOLVE TO DO DIFFERENTLY~News/Earnings Release Play FROM NOW ON, EVERY TIME| TRADE A STOCK:| Just Thought itwas going up=Dumb Chatroorn Call+Level 2/Time and Sales Ivomentun What TA or other solid 1indicators could you have useddifferenty?‘Why did you sell this stock when you did? 2(circle one or more):«= hitmy predetermined stop= started tanking and | panicked out Did any emotions cloud your 3«had been holding it for days or weeks and jpdgement during the trace? ItIgottired of watching it not go Up so, what did you lleam about+Other reason: youreelf and your trademanagement skills?Module ing: Back toTt Ihe Menial Game of Daytrading: MODULE 3a> Module Three: Worksheet 2- Finding Your Daytrading Discipline« The Powerpoint worksheet below is designed to help youms develop faster, more solid trading discipline
« Ittakes months if not years to develop iron trading discipline.The key is to stay in the game long enough to survive withmost of your capital intact, until you can "turn around" andbecome profitable.
« Discipline, Profit, Success, they are all related.
Let's look at trading from a military But there's a lot more to it than that, from a traders’perspective fora minute. You're at war with personality standpoint. Mary people lead undisciplinedthe other guys, the “open market" out there. lives, they are procrastinators, they do not maintain controlYou are fast and correct or slow and wrong - over their Careers and their results, and end up blamingwhich will you be? ~ others vs, taking personal responsibility for improving their
living Situations. f chose to be financially independent, have a greatfamily end five on @ topical island by the age of 36. I did #. I'm notspecial. 'm just highly disciplined and work very hard. For myself & myfamily, not for another man's profits)
Finding your discipline is tough! it starts fromwithin, a commutrnent to your mission ofprofitability, and your unwavering expectationthat your trades will be right mare often than That's all it takes in trading, too.they are wrongIn helping traders from around the world, onething | find is thet most are woefullyunderprepared to wage war in their tradingactiutes, least of all daytrading, the toughesttype of trading of all to master consistently
As we've seen, gaining a disciplined tradingapproach requires the heavy use of metricsand actions. Thatis to say, you have to beable to make rapid data-based tradingdecisions consistently. Having
Finding your discipline is a process. | find that documentingthings helps me, | have brief 40-pt size printed tradingreminders ("Small Stops Keeps You In The Gare" etc) andencouraging notes around my workspace.
Having discipline in your life also means having fun in otherareas as well. Both are needed for balance Look at yourdiscipline from a military standpoint: you're onamission in hostile territory and you want to captureprofits. ‘You have to watch out for the land mines andenemy soldiers that dot the trading landscape. Be
predetermined exit stops is crucial, as are committed to achieving the mission. Focus. Do It
approximate profit targets.
You should use this worksheet (or a similar one you make yourself) to help you go through thetrading thought process needed to achieve better trading discipline.
Notes on Discipline:
1. New traders need to have fences, or reminders, around their trading activities to help them makebetter trade decisions, in a faster, more timely way. One thing you can do is have your softwarealert you to breakouts or bottam bounces, you should also expenment with mechanical stops andtrailing stops while in a trade
Lack of discipline is a career-killer in trading, as in any serious business endeavor Making aneffort ta develop the proper discipline needed for success can help you in many areas of yourpersonal and professional life. Committing to deadlines, going the extra mile within a tight timeframe, even something simple like being more decisive when order lunch or dinner at your favoritelocal restaurant, will be of help to you as a trader.
The best too! | found when | gat started was to write down, on a pad of paper next to my keyboard,the stock ticker | was considering buying, the number of shares, anc both the stop loss and profittarget | would have for each of my trades This might be like SPLS 500 Buy at 20 1/8 Stop 19 7/8Target 20 1/2-20 7-3, Something like that helps - so when you see the stock price falling you arealso looking at your stop loss and haye a finger on the rouse ready to click Sell when the tradegoes against you. The profit target | use to sell right under whole (or major fraction) resistance, esp.if | see a wall of sellers on level 2 after a nice 3/8 to 