“The Map is not the Territory”
Navigating by the Stars
Are We There Yet ?
It was in April of this year that my wife continued to make me proud. Almost 49 years after we both said “I do”, she still has a way of doing that.
We had a very good trader friend over for dinner, and she prepared a wonderful meal for us. She understands the need for fresh ingredients, a balance of textures and flavers, and some soft music as we enjoy the results of her craft. We have candlelight and flowers on the table every night, not just when we have guests.
We generally talked about the more important things in life, but the conversation eventually rolled around to the markets.
I asked our guest, who is a very savvy market technician, where the market was going. Like the cool hand he is, he deftly swept it aside, as you would expect a good professional poker player to do.
My wife turned to me and asked: “What do YOU think it’s going to do?”
Gotta love that woman.
She understands I have my own system and after all these years respects my opinion, win , lose, or draw.
“We still haven’t retested 2400 from below yet, and I have a serious target above at 2486.25 that I think we can hit. It’s an ABCD target from the 666 low.”
If we go on an expedition, we travel one day at a time, but the journey isn’t about any one day; it’s about the cumulative effect of all those days.
Ironically most people think of us as Day Traders, incapable of understanding anythng beyond a 24 hour window. Last year when we were at the crossroads between 1982 and 1984, a friend of mine who is a rabid profiler advocate was adamant we had at least a 2 to 5% correction coming.
It never happened.
Step by Step. Day traders need a map that allows us to see the many twists and turns and backtracks along the way to a destination.
1831; 1982.5, 2317.75, even back to 1552.5 the insights have been there not with pompous outbursts of hubris but humbly stated as important milestones to be monitored as benchmarks for direction.
There are many ways to navigate, I continue to choose my North Star, the Emini wizard System.
The theme “Buy pull backs in an uptrend” has worked for a very long time.
Risk and reward ideas now need to be considered as we approach the Resistance Target.
I remain humble, as this system is a spiritual gift.
Many years ago I was frustrated and unable to understand how the markets really move. On my knees, I promised a higher power that I would spend at least three years helping others if I could be shown the way, given some understanding.
Within 24 hours I was given a flash of inspiration that is the core of The Emini wizard System.
It took me nearly a year to refine it enough where it made sense to me.
Eight years later, I continue to share it with others who want to listen.
Most do not, but that’s ok.
I’m doing my part, that’s the best I can do.
Taint it Black
Many traders don’t want to explore anyone else’s system for fear it will derail their thought process of what works for them. I say the more I study other traders, the better able I am to see flaws in my own system. I see how others approach their understanding, and add worthy ideas to my own.
Being open-minded and flexible is akin to a quarterback who can pick apart the defense by understanding their strengths and weak links.
I hope to see some of you at my next course offering.
41.3805° N, 70.6455° W
For now, kickin’ back and relaxing on Martha’s Vineyard for a few weeks with family.