The Tao of Minimalistic Trading: $300 Daily Profit

I did a quick in my head of your basis for 4 positions and it's $54.375. I believe there's value in understanding there's a lot of bulls under estimating their basis and that will have to unwind before bears will relent. It's not an edge, but it helps to grasp psychology. It adds a little signal strength.

 

Long 37.75

ST 33.75
PT 54.25

Edit: stop raised to breakeven.

 

under estimating their basis?? Elaborate please.

 

your killing it today...holy sh^t schiz

 

Less work today (not flipping positions around) and making more points. Seems the way to go for the future. (nice thread)

 

on a day like today, it works.

on a narrow day, which are most days you'll get killed.

 

Out BE

Left 8 points on the table.

 

basis = average cost of jb's position

 

what does that mean?? spell it out

where's your trade?

 

I'm looking at the chart from my phone, so not exactly a good view but looks like a H&S on the 5min setting up potentially. Somebody might want to verify that from a chart bigger than 2" lol.

I've gotten in an out 3 times. Flat right now. Up 1pt basically