Git ‘er done Friday.
Our system is focused on targeting the numbers.
I believe our real strength, however, is teaching our traders why we think something will happen.
That’s not to say our judgment, our timing is always right. We attempt to build a thesis for a day based on the past, and project “probabilities”.
Like a giraffe, we stick our neck out everyday, trying to help traders understand market structure and exploitable opportunities. Some are more “risky”; some don’t offer enough potential reward.
Summer Friday, 98 degrees, Sun is out.
Boyz rather be here or playing in the Hamptons?
Even @Misstrade is smart enough to work on his golf game.
Five came at Noon.
The numbers lead the dance; but we need traders to do the dance.
[08:25] E: and after big run up
[08:25] E: prefer the short side scalps as i said yest
[08:52] E: the shelf at 44 is agg resistance
Our premise was test 39, then get by 36, then 34.75, then expect 32 to hold.
We posted that we had 48.75 as resistance premarket. Play was obviously for the half gap and gap.
We had a brief seminar that discussed the Giraffe Pattern, and admitted to our West Coast crowd that often we cannot come up with a “safe” trade at the open. They were likely sleeping while EST traders were already at our desks by 6:30 a.m.
“My view is we are testing for support first; then bounce. I want it done in the first hour. 44 is resistance, and I realize that is a tough short near the half gap/42; all I can say is tight stop if you try it and believe my view.”
If you played pre-market and have some risk capital, it makes it easier. The point of this discussion was that often there are high odds trades available outside of our normal room hours, and our goal is to help traders see these opportunities with or without us.
Why stand in line all day Saturday shuffling through the maze waiting for the ski lift, when there is less competition and more chance to actually ski during the week?
Why trade at all when there is no edge?
@lyndella thank you very much #EMWS
Five came at Noon…