Jack the Ripper knew a lot about knives evidently, and so should we if we aspire to be traders.
What is most important idea in trading?
use stop loss
Think about it… that was a question posed to members today as we did a seminar during quiet time.
If you choose “other”, then feel free to identify it through email, comment, twitter, etc.
Tomorrow’s post will provide my answer.
Today’s rhythm was a show of the muscle cars of the past.
Power zone was approached, the market reacted with acceleration, then the trapped shorts were once again the rocket fuel.
This is not easy trading for newbies.
Not easy for seasoned traders either, truth be told.
Let me get this Turk E off my plate first.
The vast majority of traders on twitter are respectful, a few are not.
I discussed these nasty, derogatory remarks that were fired off last night.
“I can’t blame him” I posted a member. I post late, so he thinks I wait for the move to be over to claim victory.
Who cares. My priority is to help myself and my traders, then post as best I can on Twitter.”
If it’s not working, I can just stop and keep it in-house.
No problem here.
[16:03] E: i rest my case
[16:03] E: show me a better system…
[16:04] XX 22: I wish I would have found this place 11 months ago
16:05] kXX: i wish i would have found it three years ago
[16:09] Vyxxx: Great day today E Missed you yesterday Thx for the lesson this afternoon. c you tomorrow. GN all
16:10] emini xxx: thx.. good stuff
from zeek, a comment made last week in our room:
From a trader in our room… we have worked together 6+ years now:
[12:22] Zeexxx: The idea behind our trading method is simple: We take high odds trades that offer us a superior risk.reward to the average trade. We make far fewer trades than most, but we are consistent winners day after day. We always honor our stops so mistakes are not large losers. The targets and reasons I gave early this morning for ht reversal trade are based on the extradionary math that this system uses.
“Thanks Zeek”, I appreciate all you do for us.
[14:28] E: screwed the longs and shorts
[14:28] E: and shorts defend
[14:28] nirav 777: watch marginal low..
[14:28] nirav 777: 1 tickers…
[14:28] nirav 777: trap um to raise up
[14:29] nirav 777: low tick
[14:29] E: all out shorts
[14:30] E: trailer is your option
[15:05] E: market needs profit taking
[15:05] E: but gunning stops
[15:06] E: machine trying to kill the trapped shorts
[15:06] E: 96 high as ressit
[15:06] E: better odds scalp short
[15:16] E: 98
[15:16] E: is the potential
[15:30] E: so 88 theoretical supp
[15:47] E: i like to see xxxx
[15:48] E: and then at least u can say “maybe knife has stopped falling”
[07:12] Zeek411: 96 target hit
We liked premarket test gap fill. resistance 94 after it was violated with the 95.5 demon intact. Gap fill at 83 became a target, after lunch. We assumed it was a carrot to trap shorts pre-FOMC.
The conservative traders were advised to be sidelined after the news; aggressive traders only to play. Sidelines for all before the report.
Keep profits, risk small was the idea, as we had already guessed right about the regression trade for the primary.
I took a walk waiting for the news.
range trading has been advised capturing small profits since tight ovn range high odds gap fill done
RT @Scalper68: trade this junk at your own peril. chop liver… / 90 PP as key for now
[09:36] E: will chop over traders to pieces
target 88.75 achieved / more is good fortune
[09:24] E: xx target 88.75 , using yest high as resistance … need to trap early longs late shorts as usual was thinking
off all by 85.25 this leg
gap still there at 83 and harder to achieve
RT @Tatt22: @eminiwizard Great short call from mid 90’s to mid 80’s this am +10 on a hard day to trade. Nice!! / ty George.. now keep it
“most likely profit taking coming before report.. squeeze up a little as traders go flat” … we are sidelines for report
RT @MissTrade: no direction no trades here, on ES / 78 support has held
newbies belong sidelines for sure
trapping shorts has been the method of advancing
@jamesk_69 ty jk check out TWO
premarket demon95.5 trying to hang tough
RT @TraderSmarts: If you had a good day in the morning be happy keep profits. You don’t need to trade the rest of the day. Go enjoy life!
longs defended their turf well… we felt the 96 was resist for profit taking, not plunge …
fighting the machine is a recipe for disaster
target is 98 take profits 97.5
@eminiwizard Fed up?
@jamesk_69 rofl check your rth 30
@jamesk_69 @jul13_ @MissTrade @Tatt22 @nikkyd @cber68 @JT707 thanks all for your posts, retweets etc… much appreciated
RT @westlead: @eminiwizard Thanks for a great day of insight and guidance. Great work. / my pleasure … I love our teamwork
RT @TraderPerform: no time to do research, pay for it, it is worth it. Check out @TraderSmarts @eminiplayer @eminiwizard @vader7x / ty