Following up on “Blindspots”, let’s take a look at the reality of trading.
It is one of the more challenging and difficult professions I know.
Flexible thinking is part of the game, among other things. So is Timing, and as always, risk to reward considerations.
Developing a premise, waiting for high odds trades, and then capturing profits is part of the game. Be right all the time is not.
Living with paradox and ambiguity is part of life. Dualism; “either or”, must be embraced. Night, day, black white, good and evil, bulls or bears battling is normal. Supercrucnching vs blink is also part of it.
Being excessively familiar with the numbers helps my intuition.
I use the tools that I see that help ME; they may not help you at all. I try to teach the traders in my room the key thoughts that are important to me at any given moment in time, so that they can use the tools more effectively. It is meant to be an add-on to what these traders already know, rather than replace their knowledge base.
Hindsight will prove us right or wrong; taking the trades in advance of the “proof” is the edge if it works. If we are wrong, accept it, and move on without being stubborn.
I am focused on the emini sp.
I was not offended today when Stocktwits asked me to stop self promotion. I didn’t realize that was offensive to them, so I will not fight their rules.
My posts pertain to the emini sp and will be labelled esf or just nothing. They will not appear on that feed anymore.
To post no charts or thoughts is a waste of my time.
Our plan today was caution.
Half gap and gap always a favorite play. Multiple charts and ideas put out to support our view: Today would try to stabilize.
That means stop going down. It does not mean rally 30 points. Before we can go up, we need to stop going down.
Morning is for attempting to finding support, and be careful not to short too low. Don’t overtrade.
Our expected range was identified, as was aggressive and conservative areas.
Half gap and gap targets hit. Possible head fake areas observed. Charts produced, big and small. Chop areas and times proposed.
“1089.75 angel from Friday may be support.” It turned out it was. Never a guarantee.
The Big Boyz think in terms of “zones”. They have areas of interest.
If we want to trade with tight stops, we need to know where and when the odds are better for us.