One more moron I've got to explain and explain and explain to, hehehehe - all oldtimers better to have been shot and the ET boat would come up to the surface from being 3/4 submerged. Read the title's last part - precision mini-TOP Hunt. Again, since nobody has yet experienced the depth or lowest plateau of stupidity at ET, lemme s-plain in a different way to be sure the oldtimers are on board TOP called on Monthly/Weekly then look to daily for the last wave's likely termination zone, then drill down to 60-min for currencies and commodities, 30-min. frame for stock indexes for the last fine tuned phase of the TOP-CALL Its tiring work talking to ET's oldtimers. Whew!!!!
Simple answer, I thought it was obvious but I'll let you in on the dope anyways A lone warrior with a laptop, an internet connection, 5-8 brokerage accounts (only one is necessary, but I'm international so need these extra ones), live stateside and in Asia - do my own anal-ysis, draw my own conclusions, make my own decisions and then ACT on it/them. I'm living the dream, baby. ALL work done totally SOLO. Now tell me this, why the fuck would I give this up to be in an office or anywhere else with a bunch of people who would only irritate the fck out of me and bore me to tears? And one more secret - to deadbroke there is no difference between earning 300k/year and 100 million/year. Why? Because money has never been my thing. I realy have no idea what I'd ever want to do with billions? I have no needs that exceed just basic necessities and a few mid-line luxuries, one of them being a Porsche from the 1968-80s with a straight pipe on the bottom. Illegal yes but I can afford to pay the fines if caught. Couldn't be bothered with all the other insane American greed, accumulate this, buy this buy that CRAP. No Sir, the lone wolf lifestyle is MY way.
Perhaps NOBODY at ET has understood what EMRGLOBAL so easily recognizes. He is 100% correct - its not about CALLS or this or that - its about what you can put away in your bank account from trading, thereby enhance your life style with a solid, consistent income. Want to get rich, hey, be my guest, more power to you. For me trading is a month to month income earning vehicle. I have no Hollywood dreams about riches, couldn't be bothered with that bs, really. For the rest of you, who have zero idea of the ferocity of deadbroke when he takes on a project (and without going off-site into my previous ventures) have a look at the way I pestered baron to institute some changes so I could speed up my learning to trade here at ET. Just to let you know in advance of you reading that thread, I was a bit coarse at times when I spoke to baron - apology now and I mean it, never too late. He has a business to run and didn't see things my way, so just accept it and do the best I can - which is what I did. My posts start from page 4 of 6 http://www.elitetrader.com/vb/showthread.php?s=&threadid=168825&highlight=Patton
Reminder: Unless we see huge drops soon and a full departure from the Dow Jones 200-day m.a. and leaving it in the dust, there is always the possibility that the longer-term move is NOT correct as I've laid out previously .... so play the 30-min. trend for profit-taking and reentry as often as it takes. If the 200 day does not fail, it will be time to go LONG regardless the LT analysis. Bottomline is to be on the right side of the short-term moves FOR NOW More cautionary observations next
Never mind Elliottwave Theory, lots of mistakes can be made with that and it often trips me up and equally so is often gratifying but in a scenario like the one we have now with Dollar Index showing only 3 large waves up on daily and now recently just a 3-wave move up, I am getting suspicious why? because 3 waves are the signature of a correction, meaning that the dominant trend is the opposite. That's one big suspicion I have. next comes another
Let's apply basics to Dow Jones on Daily ..... Since the May 2, 2011 TOP we started out with a lower high then continued to a lower low, lower high, lower low. Then the lower high was taken out to deliver the huge rally we saw recently. This has totally upset the alleged downtrend IMHO. For certainty that there is in fact a downtrend we've gotta take out the October lows in an impressive fashion. That is why in cases such as this and these the 200-day moving average is the safest arbiter of significant trend change.