Trading to win using the Secret Code of the Illuminati

STOP

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Stop Losses

Stop and think.

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If we want trading to be a business, rather than “gambling at a casino”, we need an edge.

Go ahead, name your edge, right now:

My edge is:_____________________________

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No edge, no trade.

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A few other no-no’s for no trade:

  • No discipline
  • No capital
  • No experience
  • No system that helps see reliable ideas
  • No emotional control
  • No discernible pattern
  • No confidence
  • No ability to take a stop out
  • No MADD (maximum allowable draw-down)
  • NO… (you name it)

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I have a simple mindset, one that will focus on important relationships.

Yesterday those relationships became more clearly into focus, with no resolution.

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Out of the gate today, the market leaped off the blue line, like a swimmer who is being propelled off the diving board.

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Traders wanting a reversal or an icy plunge never got it.

The late day pullback is not a plunge, until proven so with more pullback and seen in hindsight.

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Thank you for all the posts on #EMWS; those relationships are also important to me.

One

Two

Three

Four

 

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Step by step, today was a no rotation day.They are hard to grasp, especially when they come near another one in the opposite direction.

There are times, as a day trader, a dilemma exists: Sidelined, with or without profits, or even a loss. Typically, lunch comes to mind.

What to do?

  • Analyze new info as it becomes available
  • If MADD hit, do nothing.
  • If still in the game, decide if momentum/ rabid dog day rules are in effect, (Trap and squeeze). If so chase trade and join the winning team.
  • Do nothing
  • Wait until EOD and look for a late contra

Joining the winning team is easier if we forget deep support (or resistance) and locate nearby “nearest aggressive support or resistance”.

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I had the feeling today would be up, but had no clue how high was “up”. I never do in trend days, all we can do is keep an eye on support in an uptrend, and resistance in a down trend.

15:27 “we don’t fade these type days” just move stops up let profits run #EMWS

15:28  all longs advised out by 18/20 #EMWS

15:30 time and price align for small profit taking… no profits, no shorts #EMWS we wont plunge

Contradictory; yes.  Common sense says the later in the day we go without a profit taking swing, the higher the possibility we get one.

Vader’s 23 was possible, but less likely.

Verniman made an outstanding call for 19.25 ; I thought he was nuts, but it was hit.

Spidertrades: @eminiwizard Those with GPS charts were shorting, forgot about eom > “knock em down and buy ’em cheap a favorite game near eom #EMWS”

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My edge is:

  • I stop and think about important relationships. Time is one of them, not just price.
  • I respect the market, and am conservative.
  • Recognizing when traders are trapped offers me a different dynamic and risk reward idea. (Umbrella or Alligator.)
  • I wont average in to losers. One unit going the right way is better than five going the wrong way.
  • Sequence trading offers me a game every day without worrying about overnight positions.

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Videos with a few ideas…

Off to the Races

Trend Day plays out.

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Stop, in the Name of Love


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