Traders R Us
Risk and reward should play a role in our critical thinking if we are a trader.
How much do I need to risk, and what am I thinking for a profit objective?
Put another way, am I willing to marry and give up my personal freedom to build a family?
Am I willing to give up sleeping in every day so that I can find and keep a job that puts food on the table? Learn new skills and out grow my current lifestyle?
Can I trade my valuable time and money to make more of it?
And what happens when she finds the world is real, and not the fairy land it seems…
…that I’m a man…
Blessed is the strength she finds in me…
Today’s bias was neutral. Positive for the long side of course is the unrelenting trend up. The possible reward remaining however, diminishes as we get closer to our projected target. We step over a dollar to pick up a penny.
The more we wait for confirmation, the more we sacrifice in potential “edge”.
No one knows. Not me, not you, not the next guy. All we know is the past, and the present, and the POSSIBLE future.
We talked a lot today about rotational pivots and bow ties, about mechanical robots, about shorts trapped EOD, and likely to be kept there. Traders who show no respect for the market and jump in near the high of the day have very poor odds over the long haul. We advised no new longs after 3:45, manage if you had any thing left. Shorts who wanted late day contra were warned to keep no more than a two point stop if entering in the 46.25 demon (rth) to (47.75 globex) demon 48 high zone.
“Nothing to prove if we caught the Primary trade this morning.” One good trade a day is all we need.
[15:59] E: nothing to prove stay sideline
[15:59] E: if trail long ok
[15:59] E: manage
[16:00] E: shorts fight the squeeze
[16:00] E: if u short no more than 2 points risk
The Angels and Demons show areas of support and resistance for us.
Going Deep for the pass.
Rain line says “not yet”.
A reminder: We are so good we never miss trades, are always on the right side of the market, and never experience any pain.
We get every little wiggle in fact. What do you expect from a Maestro, a Guru?
By the way, have you seen this? It’s a real steal and I can get it for you el cheapo.
I bought a souvenir recently, a touristy T shirt. It captured a spirit I believe in.
It has on it the slogan: “Free who you are”.
Do the work, find our way.
Blessed is the Rain…