LADIES AND GENTLEMAN WE HAVE IGNITION

The DX trade entry setup I posted yesterday has triggered.

This trade was entered last night, so for those of you who did this trade, I guess we are in bed together live on one now. As I have stated, I do not watch the markets live intraday that I am in so as not to influence what I might do with them. I make my entries based on daily bars, so there is no reason to watch a time frame smaller than the daily charts. This business is just too stressful if you watch NINTENDO on your screen all day long, especially once you get into trading size. You may pat yourself on the back for a cute little exit based on a shorter time frame here and there that saved you a bit of money, but overall those decisions are going to net cost you a bundle.

Believe me when I tell you this, it is from experience. I do have a very good knack for doing this I have to admit, but I still think that net overall it has cost me money. I know that my main strength is discipline with my background in martial arts and athletics, so the best way for me to approach this business is to use my strengths to my advantage. I can easily disconnect my quotes and not be tempted at all to peak. Only you readers out there know what your strengths and weaknesses are, so I would suggest identifying them and determining how they might best aid you in trading. If you do not do it the markets will do it for you if you know what I mean.

What else might be brewing here?

I have talked recently about the Crude Oil market and how the COT report has shown record Small Speculator longs, normally a recipe for disaster although it has not necessarily been so in the Bernanke Era. However, old habits die hard and I just refuse to tap out against this wimp in all honesty. I still think history is going to show that what he is doing here was one of the biggest mistakes off all time, but we won't know that for awhile. In the mean time it is hard for me to completely ignore what that report is screaming out at me. The final filter we have on that is of course the daily entry and how we look for that and manage it if we get into something. We are still long this market with a stop trailing below on a pretty good profit just for the record.

We see my new indicator drifting down into a sell area, not a deal maker as the last time it did the market went straight up, but if you look at the two times prior to that, the sell indication was pretty good. I know it is blasphemy to show anything on the web that does not work every single time and guarantee 100% winners, but I am not full of .... like so many others are. This is a site about real trading and the realities of what happens, not pipe dreams. I also have displayed a crowd please the MACD. I do not use the MACD but there are alot of people out there that look at this so I thought it might serve as a good reference. It is diverging now as price has made a new high and it has not gotten even close to the equivalent level. I also have some other things I look at not displayed that are also telling me to look for a sell here. As a result that is what I am looking for. I do not see a daily pattern yet but I am watching closely.

Far be it for anything to decline without a stock market decline that occurs at the same time. It does appear to me that we are setup for a short term set back there. I have a pattern I am researching and I have not gotten conclusive evidence on it yet as to how effective it is, but it is there right now in the ES with the NAZ one day away from having it. It is hard to imagine a stock market decline and I know it is heresy and has been stupidity to even suggest such a thing could happen. Maybe it will not but there will come a day when stocks will actually trade in both directions again, I don't know when, I just know they can't rig the markets for eternity, although it seems like they can right at the moment. We have moved up a light speed here, so a minor correction before another push would not ruin the party.

That is all for today, turn off the quote machines!