The Bucking Bronco

My grandmother always said "pride goes before a fall". I have pondered this for a ridiculous amount of time, let's say 30 odd years. I now say " everyone falls, pick yourself up and pat yourself on the back if you've done a good job". Good job. Pride in this day and age is a plus, I say. Be proud with a good job. Own it. So many people these days have no pride. Ridiculous .

Thanks... I agree with you!

I must admit that this is particularly true after having committed (more or less ROFL) an error
or what -at least- you can call a misjudgment.... As I did in the past days.
I normally never do it. And I also hate macho traders lingo enough!
But I was just congratulating with myself for the correct (ricomfirmed) mindset (not to brag or boast, that's for sure.)
If you want to be the personal coach of yourself... you MUST do it.
Help yourself to act in the right way.

When my horses do right their exercises I always give them a caress, a sweet word and some sugar or a piece of apple!

After all, how not to be proud of a trade like this? Yes, it's my job. But I did it well. With passion and technique.

(Tight trailing stop on. All profits locked in.)

I had a teacher in south France ... he put sugar cubes on a window sill.
While he was riding and working, his horses knew how to take a reward by themselves! Crazy.
"Good boy, go to take it!".... he used to say to his foal patting him on the neck.

Close on stop @202. Careful now. Ciao.

Splendid version.

Yes. This game is neither easy nor simple.
Bill Williams in one of his old lessons summarize the challenge of Technical Analysis in this 3 points:
> Converting mountains of data into an easily tradable format.
> Decision making process must be simple, accurate and consistent.
> Understanding what the market is saying and knowing what you should do in an instant (in 10 seconds or less)

So, briefly... the main pillars. The diligent student Vademecum.
What does this Jupiter say? What is the message of these 200 pages?

> Market is a Complex (fractal) System.
> The correct approach to the market is what was typical for the founding fathers of modern trading: Advanced Dow and elementary Basic Elliott.
> The classical scheme is summarized in the triad Price, Patterns and Time (Form Reading).
> In this approach, the Turning Point Analysis appears to be central.
> The factual Day Trading on the Battlefield starts from the Analysis of the Open of the Day and evolves through the different Day types.
> Under certain conditions, the Dow signal can be anticipated: this requires technique, preparation, finesse/sensibility and no ego.
> From a point of view of pure technical result, there is to discuss if it is better "Buy & Hold" or "Trading both ways": both are acceptable.
> Play a Good Defence is the essential: wise use of Scouting and Stop (next quality that needs to be developed is managing attacks)
> In any case the correct definition of the objective will be: Pyramiding in Direction of the Trend.

Edwards & Magee:
"The practice of technical analysis, on the other hand, is not a mathematical process, although it does, of course, involve mathematics.
It is intended to search out the significance of market moves in the light of past experience in similar cases, by means of charts,
with a full recognition of the fact that the market is a sensitive mechanism
by which all of the opinions of all interested persons are reduced by a competitive democratic auction to a single figure,
representing the price of the security at any particular moment.
The various formations and patterns we have studied are not meaningless or arbitrary.
They signify changes in real values, the expectations, hopes, fears, developments in the industry, and all other factors that are known to anyone.
It is not necessary that we know, in each case, what particular hopes, fears, or developments are represented by a certain pattern.
It is important that we recognize the pattern and understand what results may be expected to emerge from it."

Yes, scientific Trading exists.

"They copied all they could copy,
But they couldn’t copy my mind;
And I left them sweatin’ and stealin’,
A year and a half behind."

R. Kipling

"A man’s felicity consists not in the outward and visible blessing of fortune,
but in the inward and unseen perfections and riches of the mind."

Anarcharsis

It is called FLAG the TREND and BREAKDOWN! Ciao.

Banking! IMMEDIATELY! And so on and on. Yes, controlled Trading is possible. What is not possible is to reduce the risk at zero.

Banking...

So... wanna talk about trading?

Squared. 950. Yes, we are a band of miserables.

No. They don't want to.