No trades, it's the weekend. Just some philosophy from meditation this morning. The exponential curve pattern where it builds up momentum and spikes only to reverse is the same thing life force energy does in general. The goal in life being to master energy, it sure helps to see it on a chart. Might as well be a life force energy chart. Like I say, that is what money is anyway, both death energy, and life energy. Death when you work for it, life when you spend it. Loosing it is like loosing your soul, so to speak, soul loss, as shamans call it. How to keep your soul and accumulate more soul via virtuously cycling (also causing vicious cycling to all your victims, those the money is taken from) is what mastery of energy is all about. Mastery of money is mastery of the forces of life and death. The fairness aspect is the continual question. How is the soul taken? How will it be returned? How can this be fair? This question keeps evolution going.
You get paid in life force energy when wise, and life is taken when foolish. Existence is a school this way, what is fair? Life force energy can be taken, unethically; black magic or ethically; white magic. Both forces are the same money so to speak. How to get paid well and avoid pursuits that don't pay is the question. The highest paying position is to be a successful allocator of time, since that is what energy is (movement), movement doesn't happen without time. Allocate time wisest and accumulate the most soul. When to exit and enter the market and how much principal to invest is how this analogy works trading. Greed mastery is pretty much the same as mastering life force in general. All money is made by killing. How can killing be done the wisest way?
The planet is sick from unwise wielding of death power, destroyed ecosystems. Like a sick body, a sick life. The planet (and humans, can't see humans as separate from the world that's dumb) heals when greed is mastered. Without greed mastery, your world sickens and perhaps could even die.
Energy spikes. More contemplation needed. This requires life force to contemplate, it takes energy (money so to speak) to think at all. I will need to balance the budget (meditate) life force energy wise to afford important concepts.
Support loosing strength so it could break out. That is why the tight stops. Scratch trades too. But, if it doesn't break resistance it has quite a way's down. I would buy on a pull back of resistance doesn't hold.
This one finally broke the support, barely. It's in the money now. I could take partial profits. I could regret it if I don't. Right now I am going to just leave it and move stops up. That is the point of the journal right? Looking back in a couple weeks I will know for sure. Taking profits at the right time and letting it run is a careful balance. I think that if is does continue down there is not much room until another support and it will get tricky. The plan being to scalp through the trickiness and let some run.
Well....I cashed in a little bit on it I closed a couple positions, freed up some margin for less risk and higher probability, but this one has a 3/4 of the total position size left and running.
This is my favorite currently, due to the really tricky price action. I am trying to get really good at navigating through this type of pattern where it is at a potential breakout or reversal spot. I like the tight spread on this pair it makes it easy to keep a tight stop and scalp, an it moves more than others like the EUR/USD.
I hope support holds this one is looking good so far, I am not sure it is quite ready for me to move the stop up yet though, it needs to make a higher low.
Kind of a sloppy head and shoulders, one of my favorite patterns, it was this that preceded the great crash with the mortgage crisis. This pattern can be dramatically bearish (or bullish if reversed).
The basic money management I have been doing is to take a small position at first if it is not at an extreme level on the weekly, then add to it, increasing risk if it goes against me but only so much as it stretches to the extreme. The more extreme price gets, the larger position an tighter stop, and the closer I watch, like the USD/CHF. So, increase or decrease risk based on probability, and have a huge stop and a small position if not a perfect setup on the weekly, but it looks like it could run. If it does, add on the retraces and pyramid the trend until a spike or a reversal. I try to take profits and enter in reverse order on spikes generally as my strategy. Spikes tend to run out of steam at major support or resistance areas.
This one is not doing so well but not a big enough position total to worry a whole lot. I think it has a ways down still so I am holding it despite the red ink.
