Trading to win using the Secret Code of the Illuminati

Stay Bull Eyes

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Head Fakes

Staring into the bulls eyes, we were waiting for another charge.

Today we thought would be a stabilizing day, and it played out that way.

We thought the strong down day yesterday left longs vulnerable to MATD, with a  new low possible, but likely a marginal one that respected the 1302 low.

We did not see that as a  green light for the the long side… just the potential for a new low with a healthy bounce in a low volume squeeze to test the 17 area.

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Primary trade was short, so bounces expected to be the annoying kind rather than the jam it in our face kind.

I elected to pass on the bounces… just can’t do it all and wanted to avoid too much over trading during lunch bounce time. Missed a nice trade there but happy with multiple short side scalps at well-defined resistance areas.

We were fearful of  getting caught too low; the 5.5 T1 was a great exit and 1303 target we thought too marginal near 02 to worry about.

A new trader was in the room so we used the time to explain some of our basics.

Great Matd/consolidation day.

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Plan was to hit logical profit taking bounces…and expect smaller  moves in a range trading environment.

15:45 Vytis Kligys: Lawn is calling me TY   E   gd day  as usual couldn’t do with ya :)

16:02 Dean unpektable: Thank you  E for another great day
16:02  E: u welcome

16:17 JG 11: ty E, well done today
16:17  E: ty

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Just a humble student trying to have fun teaching what I have learned over the years.

…and appreciative of  the support and respect the team gives me as well as each other.

(George…behave yourself now.)

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Trading is more than ‘the numbers”.

From yesterday:

11:04 Dean unpektable: E has great psychological read on the market
11:05  E: ty very much
11:06  E: cuz i deal with u loonies in the asylum every day :)

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We have an outstanding group of traders who share fundamental and TA ideas.

I am perhaps the most conservative by nature, with battle scars from dueling with that bull over the years.

Not to mention my own “inner monkeys” as some like to say.

Lol today it was my inner chicken that kept me from a few great long side bounces.

Buk, buk, buk.

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In all truthfulness, since we are discussing the animals on Noah’s Ark, we talked about the folly of trying to catch two rabbits running in opposite direction. Most times if we try that, we are the one’s in the stew, rather than the bunny.

Focus on the high odd’s trade… be conservative, as we ate well yesterday and didn’t need to do anything today.

Rabbits and Elephants… my kind of big game hunting.

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Stream

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Five

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RT @JeffreyLin: RT @alphatrends: if you constantly boast about winners you are either; lying, young & immature, insecure or think we are all stupid / old here but 2 out of 3 not bad #EMWS

RT @TraderSmarts: @eminiwizard LOL // lol now go ride your bike and have fun #EMWS

@TraderSmarts @traderturkey @yeeron @DiogoMattoso @FlowTraderES @nikkyd @Jediphone @JS_Trader thanks all for posts on stream #EMWS

@RenaTrader @Tatt22 @QQQQInvestment @vkligys thanks all for #EMWS posts … wtg 4Q another nice call

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We wont get a Bulls-eye on  target for every trade… just get the meat of the move… it  is usually good enough…


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