This has been an incredibly difficult market if you think too much and play too tight. As the trend matures more and more I see trades requiring a heavy pain tolerance. Take ADHD for instance. Sure, I could have cut the loss at ten percent, but that just so happened to coincide with a logical level of support. Then the trade lost my attention for the moment and it was off 20 percent. I completely mismanaged this trade and that makes today’s move feel unearned.
I know the trade wants to discourage all the hot money. The market loves creaming people like me, complacent sugar junkies who are high on recent gains. We make for an easy kill.
The enemy does not fully understand Raul however. One I have access to The Fly’s time machine and two I come to these exchanges with the demonic purpose of extracting money. We’re traders and we get paid to take a beating. Trend trading is a sham if your pockets aren’t deep. It can take time, a whole lot of precious time, and it take money for an overarching trend to assert itself. If your trade has you fretting about the next mortgage payment: game over, flip.
There are algorithms and market makers specifically designed to weed out the hot money. They will push markets to drastic extremes, working diligently until a force of equal or greater power stops the flow. That force is a trader or collective they that is much more powerful than you or me.
I made some money in the port today and took two good /NQ trades. But like I sense amongst the stock picking class my gains feel a bit muted. Like a good American I want more. I pressed my book 95% long against my best judgment because individual charts are set up nicely today. Tomorrow they could all look like death and I suppose then I will sell something.
Until then, earnings have been strong (sans CREE) and people are banking coin at criminal rates.
Get yours tomorrow.If you enjoy the content at iBankCoin, please follow us on Twitter