Tropical Storm System
“Simple is as simple does.”- Forrest Gump
[08:12] E: 35.25 is rain
All of a sudden that ole rain’s fallin’ down
And my world is cloudy and gray
You’ve gone away
Some traders cannot see the forest for the trees. We major in minors, rationalize about the odds, and are in denial of ideas that have worked for a long time.
Is new better?
The Emini wizard System is a blend of ideas gathered by studying and analyzing the markets for a number of years. It combines concepts that have been made available by other accomplished traders, synergized with a few additional insights that I personally developed.
For me, it is a lifelong process, not a destination.
I continue to study other great traders and observe what they see and do.
That should not be interpreted to mean I have the General’s same risk tolerance and willingness to jump in near the lows at the end of the day.
Each of us must define our own game plan, according to our uniqueness.
We were already in protect profits mode, and willing to miss any last minute swoons below 22.
The three great essentials to achieve anything worth while are, first, hard work; second, stick-to-itiveness; third, common sense.- Thomas Edison
Let me save you some money if you are looking for a quick fix on setups, patterns, reliable recurring events.
Go to the book store, and buy a copy of stikky charts.
If you cannot afford it, then just get a cup off coffee, and peruse the book, focusing on page 178.
When no one is looking, use your iphone and snap a picture. Be discreet, pretend you are talking to someone so you don’t feel too awkward.
I have a copy of that page on my desk, to remind me of what I am looking for. (I bought the book, honest!.)
Wrong five times (at least) before right once.
A true professional will acknowledge his emotions, but take the trades anyways and honor stops.
Re -entry is allowed, provided trade logic still makes sense.
That means awareness of time, news, our stop losses adhered to, risk reward considered, etc.
Yeeron posted some marvelous commentary this morning about making calls vs risk management.
He made a very good case for traders to understand Pogo’s “We have seen the enemy, and he is us.”
“Thank you E, really appreciate what you put out there on Twitter.” -Yeeron Oct 11
Great team players help ourselves by helping each other.
Dave is a team player.
Simple J. Malarkey
The DCB was undermined today on trade logic we defined for members. It was no guarantee, but the thirty-five fence post was intact, and that kept the longs trapped.
One good trade a day is all we need, and we caught several.
Contras were also called in timely fashion, and then trailers were hailers for EOD.
Ready to pick your game up a notch?
I majored in education, have coaching experience at the elementary, high school, collegiate, and adult level.
Tell me your story, I will help you find your Blind Spot.
That’s all I have to say about that.- Forrest Gump.
[11:27] E: then new range develops
[11:28] E: controlling our emotions is hardest part
[11:28] E: at least for me
[11:28] E: [10:52] E: despite worry about bounces
[11:28] E: [10:52] E: my focus has been on hitting bounces since that is trend
[11:30] E: gap closing
[11:30] E: take profits here trail is all
[11:31] E: bingo
[11:31] JG 11: well done!
[12:15] XXX _ : thanks for your keen insights E. really great stuff. working to get my execution up to par with your thoughts
[15:13] JG 11: E, great 60min bear flag idea from this morning also
[15:33] E: 60 chart good
[15:35] tim .: thanks E, as always good instruction
“There is no defense against a walk.” -Pop
How about two of them, back to back in the ninth inning?
Only in hindsight can we see the momentum shift was there.
The Cards dealt a crushing blow to a team in Washington who did not focus on what needed to be done.
As all sports aficionados know, we never know when a few clouds on the horizon will develop into a major storm.
“And they included rookie relievers Joe Kelly and Trevor Rosenthal, who pitched 2 2/3 perfect innings immediately after Wainwright’s departure, stopping the bleeding. “Quieted the storm, kept it right where it needed to be, gave our hitters a chance to get back in the game,” a grateful Wainwright said of that duo.
I watched the game with my wife who is a true Cardinal fan. I am one by default. In the early innings I reminded her that we needed to crawl back into the game a run or two at a time. “Lots of innings left”.
E: Great comeback. Never give up. See you in San Fran cisco. #EMWS
I am going to remind myself of this comeback when I am tempted to over ride my rules about averaging down losses.
Have a great weekend all.
Oh Stormy, oh Stormy
Bring back that sunny day…