Again, all your lines above the last line are correct. So far so good. Your last line of 500%. Why stop there? Bump it up to 3,000%. Enjoy it. It means doodly squat to me. Wait for a resolution of the current market juncture. It can't be more than a day or 2 for this to resolve itself. Here are the only possibilities: Qs will not move to the left, they have only 3 ways to go, Sideways which we can eliminate easily as the only death will be from boredom. So UP or DOWN. If the former, I lose my trade and settle back and observe and what happens next without going LONG. i.e take a break for a few days and just observe and let inspiration come in at its own time. If the latter, which is MY CALL I have nothing to worry about because with the amount of Capital I have on hand ready to be deployed into rapid fire additional shorts will make mincemeat out of that 500% risk notion. Best to wait and see. Better still is for me to be right so you can see how I play this thing when there is a trend Let me explain something about the trend to you in the next post.
At the current juncture with the bear rally being so strong and powerful and confusing the daylights out of everybody, yes on a short term basis you can consider that the bear rally is an uptrend - but the context is within a downtrend, the primary trend is down But here's the screwup. The bear rally is like a speeding locomotive gushing north at breakneck speed. When it stops it cannot stop on a dime, it has to be gradual and then it has to come to total rest and then guffaw a bit and then and only then can it reverse and start going the other way if that is indeed in the cards. It is during this transitionperiod of halting the locomotive, bringing it to a dead stop and then turning it around and start gradually speeding up is where er are at TREND TRANSITION ZONE i.e. the most confounding zone in existsence, trendless by defintion That's why an operator canlook mighty foolish as TRENDRIDERS do because they throw money at the transition when they believ a new trend has formed - if wrong they lose many trades this way. Its part of the transition trying to climb on board the horse to ride the new trend Once the Trend get underway you just stay on hossy's back and ride, ridel ride, ride. Very incoherent written fast .... sorry
I gotcha!! It's the way I trade. Pyramid as the trend moves in your favor. I just respect my stops. Take a quick loss then reassess. No law says you can't jump back in with a better entry.
ADX = 19 ................. in the last 4 or 5 days ADX went from 16 to 19 today in SPX THEY say that when ADX comes from 15 and rising slowly towards 20, a trend could be aborning and ready to roll by ADX = 20+ I don't use ADX, I use my judgement and know I am operating in a trendless invironment but it is what I do. Its who I am, what I'm made of, I will take losses in the Transition Zone to get the feel for the real thing coming alive or not. Losses are part of this game and highly required. Once the Trend gets underway the game becomes eeeezy
Of course I understand you and you are absolutely correct. You are doing what is taught in the bible regarding Stops. If I were to teach anyone to trade I would do the same by instructing them to religiously place a Stop and bang the reason for Stop into their skull, then don't change it. But for myself personally, I just cannot do this. It is a limitation. Clint said, "A Man's got to know his own limitations" .............. And Lord Have Mercy, do my limitations count into the big numbers
I cannot do this. It burns my vigor. Its akin to sexual intercourse of 3 strokes, pulling out because there was not enough response and deciding to return tomorrow for another penetration attempt. Premature Ejaculation has never ever appealed to me!
Damn, I opened up a can of worms in the last post or 2 so let me state clearly ............. I said if I were to teach ............. I operate alone, I will never ever take on clients (they might all die anyway from my mistakes) I will never ever have a trading school. Why? Because those who teach don't trade Those who become professors have failed in Industry. The true trader rides alone. YouTube is full of those who cannot trade but who teach how to trade. Go figure!
TRADING PLAN for Tuesday, August 2, 2022 Wave 3 down in SPX & QQQ might be waiting for Nancy Pelosi's plane to arrive near Taiwan. If this happens profits will pile on fast for yours truly
I N D I A .............. Bombay Stock Market Index has the dubious distinction of reaching 61.8% retracement today!.