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realtraders,
I often speak with or read from time to time about how someone doesn't
trade a certain market (probably from a big loss in that commodity early in
their trading?).
WHAT???
if we all agree with pattern recognition, like how cocoa broke the
long-term "weekly" uptrend a few weeks ago, and everytime it tries to get
back in the groove and continue up above that long weekly uptrend line it
can't. so with patience (few weeks), and vision, rather than look back in
a few weeks when sep cocoa is in the 1450's or maybe a lot lower(notice if
you use distance and time it looks as though very soon will be the
"3rd" .........august last year 1450/80.........again march this
year(1480)........
.......the 3rd time looks like next month or so, maybe sooner. Usually the
3rd times a charm to break it?
wow, i'm rambling too much......i'll stop before it's no longer (KISS)
i still say just look at the picture/pattern and trade
NEXT?
the yen, i'm short, and see atleast 6500 over the next few week, why?
just the picture.........LOOK at it!!!
i'm in the Hawaii, there are many japanese here, the economy sucks
here......
but i don't know or care, and i've never even seen yen!!!!!!!
i would trade poptart's, and pizza if there were basic chart with
stochastics!!!!
who cares what it is?!
I'll never understand, i just flip through daily, weekly and monthly charts
to look for a predictable set-up, then anticipate the anticipated
anticipation(meaning don't actually WAIT for moving averages or stochastics
to "cross-over" by then it's usually too late,
or the johnny come lately's push it a little more. (Trade it), with NO
stops, then re-evaluate from time to time. If the yen does another run up
to 7600, well i guess i'm wrong (actually i'd probably bail around 7250
mental stop) and loose 250 points or make 500 when it hits 6500, making
"2", risking "1", now just WAIT,......
2 to 1? actually, if pattern recognition works 7 out of 10 times (i'm
guessing), then it's a lot more than 2 to 1 in the long run!!!(past
trades--can$ - short, sugar - short,
ooooooooooooohhhhhhhhhhh o.j. short a few months ago when we could not get
above 110 remember? from 135 down to 65 then up to 110 .....some sort of
fib% i believe, ask me broker it was NOT hindsight, and i'm NOT bragging)
how about live hogs from the short side a few weeks ago from the 60-63 then
straight down 10 cents.........now the sad story ......may plan short 5 and
make 10cents each. use a mental stop well above around 63....then
wait.....i had the money to ride it out and wait and did, then something
funny happened i thought of all the nice things i could buy if i short 19
and made 10 cents each, well i did just as it broke the daily up trend
line, BUT, it resumed it's daily uptrend and i finally covered in the 60's
rather than at least stay short a few and stick to my ORIGINAL plan i got
pissed,
irrational, started day trading spoooz with no plan , just make it back
quick mentality.
now i only trade thinly since the BLOW-OUT with the hogs. Interesting
though, besides that one bad, bad, very bad trade (which 5 was the plan not
19!!!!) i was doing very well building up a track record to one day manage
money. I can't see having a "job", or something to that effect.
2 quotes to live by
1- never lie and you'll never have to remember what you said
2- if you can do it, then you're NOT bragging.
japanese yen and cocoa:
the picture/pattern certainly is in my favor.............
that's my plan, and i'm sticking to it...........NO HINDSIGHT..............
comments..........
gary
hawaii
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