Primary Target
2912.5 Destined
Consistent Progress
Planning For Success
Trust Ourselves.
We have suggested a simple approach to Trading and Investing..
Get small, consistent profits every day
Be happy getting our 4 to 5 points per day per contract if we can. Some days we will, some we wont.
Do not overtrade.
There are usually about 3 to 4 reasonable trades in a trading day. Try to catch piees of these swings.
Go to the sidelines when confused.
Inevitable we will become confused sometimes as to the next swing size and direction. Wait from the safety of the sideline while we become more confident about the next current action.
Get a bit more with trailers if we have them.
The luxury of eating icing on the cake for those who have already made something in the current swing and want a bit more.
No edge, no trade.
There needs to be a reasonable idea to support a trade.
Talk is Cheap
Rehashing the week’s ideas is a relatively simple mattter.
That’s an important exercise to provide continuity of thinking and to make adjustments for the coming week.
Traders who just finished our last educational session will focus on where we left off and try to stitch together the next sequence.
Some newer traders still have trouble uncomplicating their thinking. They sabatoge and delay their proficiency by over analyzing. I belive that happens because they ascribe something mystical to the markets rather than just using common sense.
In reality markets are going up, down, or sideways.
The E-mini wizard System elected to suggest buying pullbacks last week continued to be the preferred strategy, with a target of 2914.75 to 2717 as high odds for Friday’s price resistance.
Top callers again got it wrong, other than a few notable pullbacks into deeper support where our work suggested 2882 to 2885 as primary defense for the longs.
Locate our videos and charts on twitter if you are interested in the details of those sequence trades.
We compete against ourselves. The mental pontificators on Twitter who gush all weekend long about trading do themselves a disservice I believe.. It’s doubtful many of those traders will have any better luck this next week if they dont have a solid grasp of market structure, timing, and discipline.
Its also important to relax and refresh our minds, as well as spending quality time with family.
I think its necessary to keep a healty balance for better performance.
Like Golf, we prepare, then go out and swing the club. We make adjustments for the next shot playing it as it lies, not some preconceived idea of where the ball will end up.
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Take Action
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Learning the theoretical concepts, plays, and patterns is the beginning of becoming a trader.
After getting organized with accounts, plans, rules we need action.
The ability to trade well is based on many factors, and only we ourselves know our weak spots.
Practicing on a simulator is helpful, but we need to try our hand at risking our hard-earned capital if this is to become a business rather than a video game.
1.Start small and do not over leverage
2. Review our results after a week.
3. Look to duplicate winning trades
4. Eliminate the glaring errors
5. Decide if this business makes sense
6. Review the OTF charts
7. Define our favorite plays
8. Try to improve by finding consistent opportunity for accumulating 2 or 3 points
9. Have an uncle point to re-group and try again.
Martin Armstrong
Hard Landing
We still do not see a major correction in the Dow. We have been undergoing a shift from public to private assets on a global scale. Therefore, the hard landing will be more economically based and central banks will try to do something, as in lowering rates, but they have run out of bullets.
Get In Touch
MARKETwizardz.com
Naples, FL
admin@eminiwizard.com