Suffice to say, these might be the most productive few pages I've read on here since God knows when. Believe it or not, there was a time a long, long time ago where these types of productive conversations were fairly commonplace on here (and yes, people were respectful).
long 82.75 stop 79, likely overnight hold unless stopped out. EDIT: More than 5 or 10 minutes below 82.75 and we should see 67 +/- EDIT: stopped. Buy stop 85 stop will be a point below the low print if entry is triggered. 2767 likely if below 85
There were, and they were not infrequently imposed upon by that special breed of troll endemic to trading forums: Those whose egos first prevented them from succeeding at learning to trade in the first place and then compelled them to stick around here to attack others who sought to succeed were they themselves had failed. Ego is a huge obstacle to playing this game well. And it is a huge threat to the average failed male's ego if someone else were to excel where he himself couldn't even pass muster. Another thread I saw today asked about mentors. I recalled @dbphoenix who used to post here prolifically but seems to have disappeared in a poof of smoke and has been gone for going on 5 years now. He was a favorite target of the attack dogs, which made sense as he knew how to trade by price like few others - he was a huge threat to the ET "alpha" dogs who couldn't draw a trend line if a four year showed them how to connect the dots. There are things I do and use in my trading that he would never do or use. But there are things I believe about trading and the markets and that have said here that I say only because I learned them from him. When I did a search for him I found this, which sounds a lot like what I posted earlier with respect to observing the market: And that sent me on a path down memory lane. These that follow are also db, but not from here: "Developing a system begins with deciding just what it is you're looking for. Therefore, begin by studying price movement in real time (or at the end of the day through "replay", if your charting program offers it). By "study", I mean to observe it with intent, not just read about it or listen to somebody talk about it. Note the conditions under which price rises, falls, drifts. Make every effort to avoid imposing your biases onto what you observe. You may see trading as a war, a competition, a game, or a puzzle. You may think you're out to kill somebody, outwit somebody,or are out only to detect the flow and slip into it, riding the waves as if you were sailing. None of this should be allowed to affect what you observe." - emphasis added The result of all this observation, eventually, is the identification of a set up, just one set up: "Therefore, focus on the setup. One setup. Determine its characteristics, find the markers of buying and selling interest, buying and selling pressure, buying and selling exhaustion. Define it so specifically and so thoroughly that you can recognize it without any doubt whatsoever in real time. Decide provisionally where best to enter, what the target ought to be, where the stop should be placed, and so on.Only after the setup is defined and tested (and it can't, ipso facto, be tested until it's been defined) can one even begin to think about trading it with real money, much less trading multiple setups. Attempting to shortcut this process merely expands the amount of time it will take to develop the necessary skills. Nothing is gained by painting the house before scraping it, cleaning it, and priming it since you'll have to do it all over again sooner rather than later." - emphasis added It was a lifetime ago. But he left his mark on me. He most certainly did. I hope he is alive and well and enjoying his life.
The Lawd Almighty has seen my plight from last week and has given me another chance of redemption. Sing Allelujah!
A question to cut through a lot of the political whatever has been "do you personally know someone who has died from the virus?" Over the last couple of weeks the answer has become 'yes'... not necessarily the person themselves, but yes, someone in their family or one of their friends knows someone personally who died. It is becoming more and more real. It is probably still a reach, but maybe a little perspective and respect may sometimes come out of this...
I heard that one direct from him also. So very true. There are peculiar skill sets to trading you have to learn. It takes time. It looks so easy, but isn't. ...until it is!