Syntax is everything in trading.
If we buy high and sell low, we lose.
If we buy high and sell high (or higher), or sell low and sell low (or lower) we are ok.
Everything is relative, isn’t it?
In my opinion, the art of trading has more to do with experience, and being around something long enough to make sense of it.
Traps, head fakes, sleight of hand; carnival tricks, smoke and mirrors, and parlor games all come to mind…
Uncle Art, my father’s brother, is 90 years old and came to visit the past few days, along with his daughter Valerie.
He lives in Florida and wanted to see his daughter Janet in Mass, then travelled to CT, where he grew up.
We spent some time together, including market hours when I am usually focused.
If I can’t make a little time to reminisce with 90 year old Uncle Art, when will I make the time?
One of the highlights was a slide show my sister put together. She took a bunch of old family photos and scanned them into her computer, then connected it to the TV so all of us could watch. Mom kept pointing out relatives from our past, and trying to connect the Dot’s was a bit confusing, since many of these people I had never heard of or seen before.
His first wife was Dot, and Janet is from that marriage. Valerie is a daughter by Fran.
Art has wobbly legs and poor eyesight.
His wit is still sharp.
Mom is going to be 90 in October. She needs one of the old fashioned funnels for her hearing, or more modern technology if she will embrace it. Her eyesight is terrific, but unfortunately her recall is cyclical. She has early onset dementia: She has great long term memory, but forgets the short term stuff within a few minutes.
Forever is promised to no one.
Art lost his wife Gisela this past year, and it he is struggling with that loss. No children by that marriage, but third time was the charm for them.
Between all of us, we got deeper insights into our past, present, future.
Vintage cars of the past show us our ancestry; our modern automobiles with more convenience, power, and reliability are wonderful. The promise of technology is that we will have improved engineering allowing us more convenience, style, safety, and fuel efficiency.
Art said something that demonstrated his grasp of reality. I asked him what he thought was the future of our economy, based on his lifetime of experience.
“I don’t know where we are going, but I sure wouldn’t want to go there from here.”
Guilt by association: we expose our values, not by words, or charts, or philosophy, but by our actions.
Friday’s trading revolved around the theme of Opex (Option’s Expiration.)
The weeklie’s started at the 39.5, and the previous Friday’s close had been 1341.75, with the swing high at 1342.5.
I used that area for my marker in my math for true range, but knew things might be a little “fuzzy” as traders all see things a bit differently.
We used 16 stop for the pre market and opening sequence, with the expectation of hitting the half gap/gap/ and Angel test at 3.75 as the Primary trade.
With house guests, I was gone early afternoon, and did some sight seeing and started the weekend early. I noticed the EOD finish was contained by the 16.
We never know what life is going to throw at us; all we can do is anticipate and react.