Trading to win using the Secret Code of the Illuminati

Blue Bayou

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Risk and Reward

Today’s Problem?

Stolen Range.

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CON (men) Text is everything.

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At the outset, Greece and all the problems of the world say watch out.

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We were watching out, from last Thursday.

We blew through the natural target today at 42, then challenged the high odds test at 36 after 39.25 let go.

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Pushing a beach ball underwater and keeping it there are two different things.

Singing in the Rain

Still Raining

POP

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When the price blew by you, and anyone else without a position,  overnight, the odds were getting closer to a profit taking bounce.

Sorry, don’t shoot the messenger.

We thought today would be hard on daytraders as it has been lately.

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We even changed our normal 5 x idea.

[08:18] E: guessers today may be wrong 3 x before right
[08:18] E: instead of usual 5

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08:44] E: ok making it 32 support for now

[09:12]  E: to capture agg longs

[09:12]  E: and make shorts pay up (chase)

[09:12]  E: can go any day low

[09:17]  E: ag resist 48

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I feel so bad I got a worried mind
I’m so lonesome all the time
Since I left my baby behind
On Blue Bayou

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[14:32]  E: 480 chart said my turn

[15:58]  E: the 315 push was surprise for me

I thought it was possible, and probabilities 50/50, but felt shorts would be more aggressive ahead of it.

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We wanted traders to be conservative today, especially shorts. If the price is already near our target, scalp short allowable, but accept stop outs.

NO averaging in.

Nada.

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Accumulate capital, small bites.

Saving nickels saving dimes
Working til the sun don’t shine
Looking forward to happier times

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Risk reward was terrible.

The middle battle was the really hard part, and we advised caution thinking more than scalps long OR short at that level.

Accumulate capital was suggested after the IB long breakout.

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We are little fish in a big  Bayou.

I’m going back someday
Come what may
To Blue Bayou

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Where the folks are fine
And the world is mine

On Blue Bayou

One

Two

Three

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Where those fishing boats
With their sails afloat
If I could only see
That familiar sunrise
Through sleepy eyes
How happy I’d be…

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