took stopout on PCX , because I don't like losses, it just irks me 19.52 , 19.58 , stopped. -0.06 my entry for pcx wasn't that good, it was late actually, I'm looking for shit to short 19.63 would be the better short. 19.66 stop Of course you could be covering into high of the day, but thats what happens when you short late.
SHORT PCX , 19.66 stop = high of the day I like this short Lets watch where High of the day ends up at.
Review of todays trades: PCX - Trade #1 , 19.52 ( ok trade) Stop set right. Stop 19.65 , moved to 19.56 PCX - Trade #2 19.66 (bad trade) Stop set wrong. Stop set wrong, intraday high can go unlimited. but I'll stop myself out, cause risk management is required. I'm shorting with small size. *Because shorting is risky business. *No more trades this week. Quite frankly I don't even like to be stopped out with small size. *Giving money to the markets is not one of my hobbies.
Short Patterns are not as predictable as a long pattern. Lot of short patterns don't complete. Long patterns complete almost 95% of the times. Short patterns might complete only 40% of the times or worse.
1) the bias is in "buy low sell high" , so long patterns complete much more then " sell short high, cover lower", short pattern. 2) Called human behavior, thats your math. Much more predictable then some 6 sigma shit
Math scares coolweb. It is too tricky to incorporate in his scam. He is truly a horrible con artist though. Anyone who gives this guy money deserves to get taken. Even more so then those Nigerian e-mail ploys. He has contradicted himself on almost a consistent basis. makes me think he is sharing a user name with several would be cons at the local internet cafe. The only joy I get is the knowledge that no matter how hard one tries... fantasy never equals reality.