Some updates coming up ................. post #1068 is still my focus until proven wrong. Say what? MG can be wrong? I'm a Loser, wrong is my middle name. But here are some thoughts as why I do not and cannot believe the drop from august 16 bear rally top is a WAVE 3 ............ volume is anemic, not right for a 3rd wave. Commercial Hedgers are nett LONG SPX while their opposites, namely the small and large speculators including Hedge funds are short SPX I almost always by Nature am placed on the same side as the commercial Hedgers - they don't use TA but I do. don't matter. End result is we are on the same side.
see post #1052 re-examination of the counter-trend rally legs and the Primary Trend legs reveals that one position trade can last 2-4 months. Therefore I believe I might have only 4 trades per year on average. I like this a lot. Less is more. Target remains 1 mil per month average = 12 mil per year nett profit. Can I make more? Yes! But I don't want to. It would be in the realm of GREED. No thanks. GREED will kill me quicker than anything else. I'm satisfied with my PLAN of action.
I strongly expect this to be the case. And more ............... the big banks are going to use the "bail in" feature soon, no more need for the "bail out" ............ they just swipe the deposits which as per all the updated documentation belongs to them and you got the "I owe you" We're f***ed.
The Trader's original DREAM - the why he got into the game of Trading in the first place ..... to make not just money but gobs of it, to have no limitations on what he can afford for his family (and friends) ................... that HE failed miserably is why places like Stock forums came into existence - so they can drink their booze and remark, "Trading is such a racket" A graveyard of Losers who never attacked the game PREPARED! The Market f***ed them royally, tore them all a new one and sent them packing to the lower echelon of wage earners not too far from UBER driver level of wages. At least with UBER you get your money = get paid, but here in Trading you just lose and lose and lose for all those hours spent. Revitalize that original dream. Then find big capital. Give yourself a fighting chance by have a yuge bankroll. Without ammunition you are shooting yourselves in the foot
Now dig this: I keep telling you that big Capital is the ONLY way to win smoothly in this GAME OF THRONES 100k shares = $30 m ...... remember how some onlookers were so shocked about this number, which in reality in the real world is quite normal in the upper middle-lower rich class. Its soooo normal as to be boring. It impresses nobody. But look for it does for MG ............. 100k shares already cashed out today for profit of $522k. You want me to spell it out for you? 522,000 USD profit on just one intra day trade. But wait it gets better .............. moving my STOP for another 100k share package up to 294.94 = now running on Market money Jesus H Christ this is just too damn good!! And what was the work involved to get this REWARD? P A T I E N C E = ZERO trades for 8 days. Zero trades as I waited and waited and waited for what I believed could happen. For 8 days all I was standing in a doorway trying to make some sense of my plight as I waited alone, alone, alone for a TURN that was not forthcoming. Now I knew I could make a load of dough just being SHORT in the direction of the BEAR that I myself had called and expect but I could not shake off the inner force that a rally must occur first
See 294.94 above in quote? That was under the 200-pd ema and under the 30-min. trrendline. A good place for a trailing stop. But as Q approaches 161.8% and the trading session will end in about 25 minutes, I am raising the Trailing Stop to 297.29 = yet another juicy locked-in profit on Market money I am now officially off the reservation and joining the chain Gang
Thought experiment. We know who won today. Now who lost? 1. GS traders who were all short 2. Same for CTAs 3. Anyone finally moved by all the bad newz, and Brandon's fiery speech, to give up on America 4. Leveraged price chasers Very irregular first wave count threw me off yesterday, but sometimes the one minute charts have messy levels that splash over slightly. The bigger picture came into view this morning before the launch:
This is what I was operating on .................. QQQ 5-min. ..... and note that I moved my Trailing stop up due tot he 161.8% perfect hit and struggle with the magic level. It can of course come back soona nd break thru' so then if so, we head to 261.8%. More and more and more money to be had