Psychology
C.C. me.
I was taking a walk Sunday morning and bumped into a super trader whom I respect. Down to earth, approachable, unpretentious.
We talked markets, golf, and life.
We use different methodologies I am sure, but had come to similar conclusions. He was short gong into the weekend, and we both had the 77/79 zone as important resistance.
The internet is good for communicating impersonally and by long distance; nothing beats face to face and pressing of flesh.
Kudos on a great trade.
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When gifts are given, profits need to be collected, especially when the M.O this year has been a sloppy choppy advance.
We are not going to try and call a top, that won’t be necessary. I do believe we are nearer a top then we were 5 years ago, that’s all I know.
The Pareto Principle has demonstrated time and again capture the “easy” (yeah right) 80% and forget the ends.
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There are some who profess we are all in this together, but I find that not to be true.
We may share ideas and camaraderie, but in truth we take our own trades and manage our own risk.
Speaking of risk, a reminder we play around news.
For those of you who hold through it, lots of luck.
For those who want to learn more about our methods, follow the posts with links to videos, chat, and text.
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Mere mortals, here, not Super Heroes.
By the way, did you figure the R.O.I. for Kentucky Derby winner California Chrome?
Win, place and show.
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I shot a not so respectable 88 Sunday. Hit the ball well off the tees, not bad for my third time out this spring. My short game left a lot to be desired. I left a few iron shots close to the green but then couldn’t get it up and down. The greens were as slick as ice, though it was 85 late afternoon.
Drive for show and put for dough. The market is often a lot like that. The first 15 point run is the 80% done in an hour and a half; then another four hours to travel that next five points.
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A few important ideas from last week.
The myth of the 10,000 hour rule http://ow.ly/wewja thanks to jchilds@randomhouse.com for sharing #EMWS $ES_F
E TV 42/44 support http://ow.ly/wfOHa #EMWS $ES_F 12:55 E: v bounce possible 1:13 E: use the 55 as resistance now
7:44 Zeek S I think that we need a trip to the 45-41 area in next couple of days / V bounce against stubborn one way traders #EMWS $ES_F
@tomandprisha don’t know about the 1914 part but the 44 part intact #EMWS $ES_F
E TV Range Trading http://ow.ly/wjf6N Risk and Reward http://ow.ly/wjf8S #EMWS $ES_F
E TV Planning http://ow.ly/wkvAk Opening Swing Sequence http://ow.ly/wkATt #EMWS $ES_F $Study The Professional Edge
ETV prep http://ow.ly/wlMXp T1 77.5 http://ow.ly/wlLit react http://ow.ly/wlLJn 71 support http://ow.ly/wlLRa #EMWS $ES_F
Boyz month end invisible hand http://ow.ly/wlOig swing http://ow.ly/wlOqR alligator http://ow.ly/wlOv0 #EMWS $ES_F
E TV Open http://ow.ly/wn9re 71.75 target achieved http://ow.ly/wnaFp #EMWS $ES_F 10:39 E: 82.75 t1 capture by 82 smart
Yesterday’s idea: 7:09 E: and a measured move i have completes 86/ we are using 86/88 as ressitance for gap fill #EMWS
E TV News Trading http://ow.ly/wpqv2 globex 86 resist and 75 support http://ow.ly/wpqGO #EMWS $ES_F
we are range trading using 86/88 as resistance and presumed support 72/75 yesterday’s angel 74 hit #EMWS 79 magnet a key
For losers everywhere… Trust in God and believe in yourself http://ow.ly/wpSxr #EMWS $ES_F
@costezcorp thank u, we wanted to test yest low, undermine it if possible, maybe 25% odds #EMWS double comes first
72 logical http://ow.ly/wqiLr assumed the boyz would want to jam 456 http://ow.ly/wqjck 77 to 79, above that, shorts toast #EMWS
E TV 72 test http://ow.ly/wqJoP stops down http://ow.ly/wqJMS sequence http://ow.ly/wqK8c EOD http://ow.ly/wqKgq #EMWS $ES_F
overnight showers http://ow.ly/wu2Xy #EMWS $ES_F
regression trade… cover ahead of the open if short by 62.5 advised our traders #EMWS #ES_F trailers only http://ow.ly/wuhLT
plan was make trapped longs pay up first… then careful of bounce #EMWS
yeehaa ahead of the gap, two way day expected. Plan: make charlie chase short, stop out longs, then slingshot #EMWS $ES_F #psychology
RT @MrTopStep: We are all in the same BOAT together… make a few bucks and try not to get KILLED in the process #EMWS your best post ever
72 support (73.25 IB high retest) http://ow.ly/wvwdG #EMWS http://ow.ly/wvxiQ a and d http://ow.ly/wvxoh $ES_F
afternoon http://ow.ly/wvxt3 rhythm http://ow.ly/wvxx5 #EMWS wicked day for Charlie and probably most traders $ES_F
E TV pre market http://ow.ly/wvxTX slingshot http://ow.ly/wvyxd lunch chop http://ow.ly/wvzD0 #EMWS
shake and bake gifts above 80 http://ow.ly/wvEwx #EMWS $ES_F cheers to disciplined traders
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