We are only as good as our last call.
After that we are yesterday’s news.
You are a bull, aren’t you?
Isn’t everyone these days?
I for one, am not.
Let me address the Big Idea, without being defensive.
Lol. How quickly they forget.
Chewy : @eminiwizard when the bull mkt is over, I’ll join you…you seem to like the darkside more
(I mean no Chewy no disrespect, just using this as an example).
With one chart, our members can quickly pinpoint the Major long side buy ideas we suggested. There are three or four of them, the latest being last week’s low when tons of traders were screaming for 1319.
Those are just for this year… go back to a year ago August/ beginning of September for more.
The time to be a buyer was long ago, as a position trader.
Whether it was the Silver bullet, or ES.
Unlike my posts on twitter, where the noise will be forever lost, I take the time to post relevant ideas in this blog. It is not out of narcissism but because it helps me further refine the system. It will also remain a more permanent collection of my trade ideas for those who stumble on this site and wish to learn the methodology.
Position trading is different from day trading; When you get a winner, ride it for all its worth.
If you have the resources, why not do both?
When you get no traction, accept scratch trades and/or cut your losses fast so they don’t eat you alive.
If the high odds gap trade plays out today, it should get us in the 45 neighborhood.
If we miss entry for long side bounce… then we have several choices:
- Scalp Short
- Try to find a pull back and join the winning team
Our high value target was obvious from early morning analysis.
08:14 Zeek411: 1355 is xxx
08:15 E: ty i have 1357 as xxx
08:16 E: so in my mind that is the 56/57 xxx resistance
08:16 E: first things first
Aggressive Buy zone identified, support chart guessed.
08:08 Zeek411: watch for buyers in 46.25-45.25 range by b/o players
Make your choices, and depending on fills, style of trader we are, and the rub of the green, find logical trades.
Agressive traders made out well today with the early morning buy and then let it work.
Trading lunch was a nightmare… for both sides. We thought it untradeable, and advised against that idea.
The high level base we saw building… and felt the 49 was key support late day for that squeeze.
The 47.5 buy never did get hit… 48 db refused to crack an inch.
E: 14:15 E: 49 important now
Why 49 late day?
All part of the system…
Scalps short worked for several nice trades today… but we warned short side traders to consider that side as likely to get squeezed if lunch pb was narrow.
We could just feel the invisible hand waiting for the market to work off OB through “time” rather than price.
I am neither a Bull nor a Bear.
Opportunity is there for the taking… when the Boyz play their games…remember, this is about making money, not “proving anything.”
Our Hit and Run style of trading is based on a simple premise: The sum of the parts is greater than the whole.
08:25 E: often the boyz know exactly where the stops are 08:24 E: price better here 08:26 E: 52 ressitance scalps 08:36 E: 48.5 #EMWS
08:35 E: just get on scoreboard 08:36 E: see if can get seed capital #EMWS
08:41 E: 46.75 = xx targ #EMWS
08:34 E: and since we can’t buy the high 08:34 E: we usually ty to scalp short #EMWS
09:30 E: 44.5 half g 09:36 E: out 45+ and trail #EMWS
11:29 E: say pretty please 11:29 E: angel rth 47.5 #EMWS
56.25 t1 advised longs out all but trailer by the 55+ and shorts wait for 56+ print #EMWS
say yeehaa by 52.5 if scalped short EOD #EMWS
13:22 E: this is just high level base trying to hold 13:30 E: we said longs win by? just holding then it allows for squeeze #EMWS