Thank you sir, may I have another?
Just a joke out of a frat movie, but applies to this chart. All of my clients know that I am overall bearish on the stock market, and have called for lower lows in the fall. However, in short term trading I am often opposite of the longer term trend.
Yesterday I had a day trade buy signal that I displayed that took a loss. Today, I have another that is displayed to the left. It was a buy on the opening, and sell on the close. It is slightly down as I post this chart. The green carrot indicates the entry today, and the red are the orders for exiting. Again, you can see this is very structured.
This takes the emotion out of this which is very important. My short term trading in bond my bond and S&P systems have not done well in the last few weeks. It is during these periods where emotions can get the best of you. Had I gone by emotion, I would not have done this trade today, we are really fighting a strong downtrend. However, in the end following the rules will pay off even if it does not during shorter periods of time.
A special congrats to one of my newer clients who just made their first trade, which is a nice profit in GOLD.