QQQ ............ I am now totally FLAT. All untriggered pending orders are canceled so no surprises. FLAT FLAT FLAT
Reasons for cashing out now My Internship had started out badly with some losses, some gains, some confusion, some mix-up, some consternation. But this latest segment has allowed me to have a totally clean slate Nett GREEN! .... for my First month in Internship. I'm a happy camper. I'm satisfied. TREND RIDERS have said unanimously that nobody has succeeded in coming out of a bend in the trend without 12-30% nett losses I am now an exception. I have zero nett loss in this first attempt at the bend in the trend. The bend in the trend is not over as is clearly self-evidetn by virtue of the 200-day ema on QQQ holding up pretty well and doji-ing like a son of a gun. I want to do a review of a couple of things that could trip me up in the wave count so this time flat even for a day or 2 or 3 will be helpful. Nett GREEN! Nett GREEN! Nett GREEN!
QQQ ............ TA there are a couple of very interesting things I noticed in the RSI(14). I want to take the time off line to explore this feature historically in the dow Jones to see how good it signals. If it does well, it really will be a boon for me and help me get out with 90%++ of profits intact per move. Fingers crossed.
For the record for historians: I have completed one month at ET Internship. Learning plenty from some wise folk like ondafringe and Overnight. The ALL-NETT GREEN is a big confidence booster. This warrior is now ready to do battle in earnest. Very special thank you to Ondafringe. His perception was Jesus H Christ so validating for me when he suggested I read the thread he recommended as he spotted the gains from trading ET style were too small for me. There is tremendous perception there. It was yuge and o pened the door wide for me. May he live a long life and flourish and prosper.
Special note for Eqtrder .................. ching ching $$$$ ........... no hard feelings from me, amigo. Beer invitation always open. Santa Monica Pier Beer and yuge lunch is on me, seafood of your choice, the best money can buy. Then I'll drive you to Zuma beach and show you a spot that showers Inspiration upon us traders who venture there.
Lesson are cemented with blasts of quiet power from the deep recesses of the mind from my past .............. A big shot visiting a children's hospital was being shown around by the Medical Admin in charge. Big shot asked her, "tell me were there any great Men born here?" She replied, "No, only little children" And so it is with Technical Analysis on YouTube. Sure they are trying to make a living but who isn't? But they give freely and from the heart and the nuggets can be 24 soft gold. THE MAN could easily have had me born to a rich family but HE did not. I thank him for this gift. It has been paying off big time and will continue to do so!!!. Massive black man in Watts looked at me askance as to how come I had the balls to venture into their turf for even something as basic as a hamburger. I walked up to him introduced myself and asked if I was trespassing? He asked me, "Who is our GOAT?" My instant reply was Michael Jordan and Magic Johnson in #2. He took out his business card and signed his name on it and said, "you are trespassing no more, keep this card in your wallet at all times and if any trouble show it to the ones who want to do you harm" The lessons pour in For conceptual understanding only, not religious in any way shape or form. All religions are great, Gods don't fight each other like we clowns do with our 15 wars at any given time.
So you averaged in with multiple $400K tranches until you got into the green. If I had unlimited funds I could do the same thing. If you REALLY believe in the bear, why did you exit?
(1) Qs doji-ing on 200-day ema support is bothering me that it might have one more higher high. (2) Mistake in reading the wave count on 5-min when Q dropped to 326.36. I looked at the count and thought OK we need a 4th wave up and then a final 5th down & I would exit there. But instead. Q generated a rally that makes that low therefore a 3-wave move down, i.e. a correction in a larger uptrend. Therefore one more higher high is likely. (3) So I got out.
NO change in belief in the BEAR. Nothing has changed in my view. The only nuance is that the BEND IN TREND is not finished for Q and that one more bear rally top might be needed on the daily timeframe. If it honors my thinking I will resume all Shorts with similar or greater vigor.