Back to the Future – My Freewheeling Journal

Last men out... thanks! Now watching.

Never lose your focus. Follow the development.

Alone, inexplicable and inscrutable to everyone.
But trading live... with nothing to hide!

DAX m5. We'll see.
My Stop is in place.
Goodbye. Trade well: first and foremost "Be Safe!".

Know your enemy... (And, please, remember that everything could be defeated! Everything!)

12.615 was, actually, my target as a buyer this morning at the Open...

Now I entered my Shorts @12.608.
My positions running at the moment... Stop in place and ready to scale out!
Tactics must be adequate and commisurate to the terrain's conditions.
Be really careful.
I have my Elliott reading done... but it could be different from the Market Sentiment in this moment.
(I could always be wrong or Market could always change her ideas!)

590... et voilà.
BULLS searching their Flag! (on a perfectly expected level)

Enjoy your trading.
But never risk your capital! Don't do stupid things. Don't fight! Stay on the right side.

If anything sounds strange and weird... identify the correct level where you must decide. And do it quickly.
Dance the dance: scale in and out.
Try to get the rhythm of the Waves.
Try to be on time... on Tempo!

This level is strategic (up to a possible 650... watch out!) as you can see on a D1. Big Boys will fight... with no mercy.
So be prepared.

Ciao.

That is pure fun! GJ.
And I traded, as you know, all the move on the Bear side.
H1 and some CORRECT levels. IMHO! It is (and it was) a Downtrend.
They simply closed an hidden Gap... for now and in the now.
The Break Down was absolutely perfect. No-brainer trade.

Ed Seykota: "I am not interested in a non-existing future..."

DAX. My Entry seems on good timing... Trailing my stop... waiting for the reaction...
I begin to be very tired. We'll see.

Breakaway... direct @600 ...

See you. (TP @590 It's OK for me.)

Yeah. Like the Blue Angels.
You must know what you have to do: second by second, in each and every instant!

Linda Bradford Raschke refers to the same fti's example:

" Traders should be like Fighter Pilots...
Make quick decisions and have quick reflexes.
Their plan of attack is already pre-determined...
YET they must be ready to ABORT THEIR MISSION at any stage of the game!"

W.D. Gann in "Speculation: a Profitable Profession":

"Remember... you can never have too much knowledge.
Continue to study and learn more.
For the knowledge can always be turned in profits later."

fti - TAF#840:

"After every battle forget about the glory ...as well as its pain...!
The next battle will be totally different!"

fti - TAF #3541:

"... She will teach you the meaning of 'VARIANCE'..."


From Merriam-Webster: Definition of variance
1: the fact, quality, or state of being variable or variant : difference, variation (yearly variance in crops)
2: the fact or state of being in disagreement : dissension, dispute
3: a disagreement between two parts of the same legal proceeding that must be consonant

Welles Wilder: - “The only thing that matters is what the market is actually doing.”

Martin Schwartz: - “ The most important change in my trading career
occurred when I learned to divorce my ego from the trade.
Trading is a psychological game.
Most people think that they are playing against the market.
...But market doesn't care!
You are really playing against yourself.
You have to stop trying to will things to happen in order to prove that you are right.
Listen only to what the market is telling to you now.
Forget what you thought it was telling you 5 minutes ago.
The sole objective of trading is NOT to prove you are right...
BUT to hear cash register ring.”

Ah! Retailers... fear, greed, ignorance, hope.
Wishing, hoping, and praying... Always.

What kind of traders are we? What are our references, method, mindset, tools?
Do we really feel ourself apt to the task?
What about our daily examination in front of our charts?

The answer is in post #1.

How and where Institutional Traders execute their orders.
Retailers emotional/emotive trading.
Highs and Lows.
Contraction and Expansion.
Range, Break and Trend... …

I'm not talking about guts, intuition, crystal ball or tea leaves!
In all these pages I was talking of Rules.
Rules that we must know as the palm of our hands and in which we have blind faith (because full proof tested).
We need clear Rules to decipher the situation we are in!
If you don't know what you are looking for and what you want to see... you will be dead before you could even say “S..t!”
That is the sad truth.
Question is not simply to learn to fly.
Question is how to learn to fly in formation. Not so easy. Not everybody can do it.

Let it all hang out (old-fashioned slang) = to behave freely without being shy or feeling worried about what other people think of you.

We saw the GJ.
What about DAX?
No predictions here: I just try to ride the Bucking Bronco in The Now...
Anyway, in any case, however, of course, naturally... I have a bias (always ready to adapt to the Reality of the Market!)

>IMHO... The Scenario.
This Double Divergence in D1 generates Opposite Sentiment.
We are on the limit of the Change, playing just on the razor blade (650-655 with grey area up to 725).
First PB, from 600 toward South, was rejected and we are having what one may call "a third D1 test of the Highs".
Is that Divergence still operative and in function?
Is it exhausted and negate by the Long Term Downtrend (ema200D1 660)?

>The Facts.
Friday close was ambiguous... slightly Bearish but not resolutive (m5 12.588: Triangle and close 61.8%).
Retailers Traders are further and further net-short...

Trade safe. Safety first.

Now you can no longer say that you did not know it, or that no one had warned you before ...

Richard D. Wyckoff - Rollo Tape, Studies in Tape Reading - 1910
"Success in day trading usually results from years of painstaking effort and absolute concentration upon the subject.
It requires the devotion of one's whole time and attention to the tape.
He should have no other business or profession.
"A man cannot serve two masters," and the tape is a tyrant.
One cannot become a Tape Reader by giving the ticker absent treatment, nor by running into his broker's office after lunch,
or seeing "how the market closed" from his evening newspaper.
He cannot study this art from the far end of a telephone wire.
He should spend twenty-seven hours a week or more at a ticker,
and many more hours away from it studying his mistakes and finding the "why" of his losses."

And this is what I traded on S&P500... Here and there, with some quick attacks. (View in D1)
IMHO Still under the influence of the big Triangle, even if the Bearish Force of the pattern was (technically) defeated!
Where is she going? (ema200 rejected and a series of HL)
Who cares?
I am not interested in predictions... I simply follow her lead and dance the Price Dance.

And now...