I try to listen more then I talk. Watch more then I trade. Trade once everyday, to memorize price patterns. what did I learn today? That particular shorting price pattern doesn't work., Cost me $50 for that lesson.
1) I've been watching the markets, not doing anything much, Luckily I convinced everybody important I know to move out of the markets IRA, retirement funds, investments, everything, since May. 2) I've only put on a few large sized "SHORT" trades in my career that are profitable. I don't have much experience in shorting LARGE, maybe too volatile? maybe too fast to enter, I don't know. 3) I intend to put at least one LARGE short trade this year , profitable as well. 4) Going long is actually much easier then going short, most people don't realize this. Short setups fail much more often and happen way too fast, and the duration is short , so less ADDing. I only need a few profitable trades per year to make this year quite profitable Either way, it should be a good year.
big trade coming up, I'm seeing Barrick long, ES short Waiting for entry, I will short 15 ES contracts when the time is right possible entry time = This afternoon , or tomorrow. Price action to look for = barrick down around -2% from current price, ES up a bit or stabilize.
If Barrick does "Top" (stop making top prices) ALL buy entries = will be profitable eventually at least for these couple of days. Very exciting, Its been awhile since I seen something like this. We will make money.
1 month 1 trade. Its coming , finally! waiting for your ass for 40 days and counting. Execution will be flawless, Entry price will be Optimus PRIME! BARR1C 43.20 give me entry! ------------- /me turns up the AC celisus 23 degrees.