A few ideas and then out to dinner.
Still relaxing and enjoying time away from home; walks on the beach, playing golf, happy hour and sunsets on the veranda will soon come to an end.
Step by step, enjoying one day at a time.
One of my favorite students was a master at that.
She was a pitcher; and a darn good one. Whether she was up or down in the game, didn’t matter. After our turn at bat, as she headed back out to the loneliest place in the world where you cannot hide, I would say to her: “Nothing – Nothing”.
I didn’t want her to get complacent and lose her edge if she enjoyed a three run lead; and I most certainly didn’t want to see her give up if she was down three runs. Keep your team in the game and claw and scratch your way back one inning, one run at a time.
Her sister used that same philosophy to be an outstanding hitter as well.
Works for trading too, I think.
Today’s trade was reactionary for many traders. The high odds trade was called for the 1102 support for the half gap, and the potential gap fill. We advised our traders to take profits before the confidence numbers came out. We did a poll prior to the news; my cynicism was showing as I voted for no confidence.
“1102 support broke; short side bias.” Jump in for the ride.
The chop was fairly well contained, and we used the 98 as resistance for the late day retest of the 92.75 Angel.
I hope I don’t come across as a no-it all. I am not, and actually am very humble. One trader on twitter made a remark to one of our team about him “working for me.” Let’s put that idea to rest. These are members who have entrusted me with the responsibility of helping them make sense of the market, and they have paid me to do so. They have indicated that they think they have gotten far beyond their money’s worth, and yet I continue to give them free air time every day with no additional fees.
They are the “Angels” and because of the risk they took, will continue to get that kind of treatment. That window is rapidly closing for anyone who wants that benefit.
My first priority has been to the team, then myself lately, and finally to the twitter world and readers of my blog.
I give the best I can, without divulging all our confidential information.
A few traders have been invited into our room as a courtesy, no charge to view our room. These have been traders who have shown consistency in respecting my ideas and retweeting some of my posts.
I hope that answers some questions that may have arisen today on twitter.
It is extremely difficult to maintain the integrity of our ideas while non-members are there, so that won’t be a regular pattern.
Finding the rhythm is what this business is all about, after understanding how best to reduce our risk.
That’s what we attempt to teach, every single day.