MyT EE Mouse
Mouse Tails tell the tale…
Click, click, click , click.
The game was over before it started.
It usually is.
The pre market range gave us evidence we would have reasonable swings today, and cigar traders knew to be cautious about any huffing and puffing.
The Boyz were using Gardol.
When the fix is in, all you can do is play along with it or go play golf.
Manipulating the market is nothing new; we are usually surprised when the Boyz don’t set a trap.
The real question is: Do you want to make money trading?
Complaining and moaning about the games the Boyz play while trying to beat them is an exercise in futility.
Recognize the charade for what it is and make money, or “be right” and play against them and lose your money.
The megaphone pattern was one we have had our eye on, and one of our members proposed it early. No surprise, when one of us sees it, many do. If one of our traders brings it to share with the room, even if he gets the idea from other traders,we all benefit. Who cares if he got the idea from someone else? We still need to evaluate it and see if it makes sense for us.
A trader on twitter who scoffed at this posting of mine late day suggested the pattern was no big secret.
LOL How did we trade it is the key? And why not share a little to help traders less skillful trying to learn the business?
There are various levels of skill, and one of the ways I teach is to post for the traders who are still learning these patterns. The premise is simple; we are on a ladder, and learn from those above us while teaching those below us.
You want to be a better trader? Teach somebody else what you know. It will poke holes in our own thinking, and force us to better understand. My assumption is simple: I am the dumbest trader in my room, on Twitter, in the whole world.
“Everyone of you is better than me, and I am trying to learn from you” is my philosophy. Please accept my apology if I sound like a “Know it all”; I remind you that I consider everyone of you a better trader than me.
If I want to maintain my edge, I need to remind myself everyday: “Humble student of Angels and Demons.”
We help ourselves by helping someone else.
A new member joined us today, and we advised caution while learning.
We already had a plan in place, and correctly identified the presumed range for the day. There were several good trades as contras against the 5 minute “not today boys” bar, which already told us to try and buy support on a pullback, fade at lunch, and likely test the weekly high.
Five minutes of action is all we needed to see that the Boyz were using the Ladies tee today.
It was a great day however we played it, including the 58 defense for the 52 test in the opening hour.
Late contras were advised to use 66 stop for the 64 EOD profit taking move, target 60.5
If you got swings in both directions, be mighty proud of your game and mental flexibility.
The stacker of boxes had us on the right side of the push today.
Tea time…Drive for show, putt for dough…