The Bucking Bronco

I have lots of prisoners here... Out. Banked. @635 Blotter at your disposal.

And when it is time to turn we turn... Ciao
Enjoy your trading e buon weekend.

What a pity. For the second time in a row I missed the juicy drop.
As you know I don't like to trade in the NY session.
Nothing serious ... we generously filled the bag this morning.

Checking the chart: Downtrend reasserted itself.
This "always changing attitude" it's Mother Market nature.
As fti used to say: "To me Perfidia always meant flirtatious..."
It took me years to understand and give a sense to this sentence!
So don't ask. Try to figure it by yourself.
Dear fti, a genius.

Mama is calling... what have I to do? Give her some money back ?

Just in time... for a quick bite...

Banked @ 500

Never too low to sell!
(If you are correct in your view!)

I often come back to read Technical Analysis Fallacy and my own notes on it.
Every time I am more prepared, I know more things
and every time - just for this - I am always able to see and discover new things, new nuances, new details.
What an experience...

Each time, however, I also find more evidence of my personal interpretation.
fti doesn't want me to "put my hands on him", LOL
but I'm more and more convinced of the things I've said and what I'm saying.

How to build a proper, personal "Mental Road Map" – 25

As I said I don't use indicators.
I work on a naked chart.
I only have Moving Averages on a second chart of the same Time Frame.
My charts, however, do not remain naked! I really make great use of Trendlines.

That said and specified ... I've always been fascinated by the three-dimensional effect produced by the Donchian Channel.
That effect I see - like a ribbon/strip that unfolds in time suspended in space - is the image I have of the Market inside me.

In this case you will find a ZigZag 5 used inside a 20 period channel on a yesterday DAX m1.
Try to meditate on it.
The three vertical lines are Frankfurt, London and Wall Street Open.
The green MA is a 200SMA.

(I could write a 200 pages book of comments on this chart only. ROFL )

Why can I sometimes be incomprehensible?
Because in my daily trading I try to follow the intraday price in its changes of direction ...
to take as much of the movement as possible on both sides.
Obviously:
if, on the contrary, on my short chart a strong directional movement clearly emerges...
I will endeavour to remain firm in that direction absorbing and manoeuvring in the corrections.

If you don't agree with these general settings ... don't read these pages! You would only waste your precious time.

Of course all that requires a good grade of theoretical preparation and knowledge.

Yesterday, in the core of the battle, I posted (and deleted) the title and the header of the Gann 1929 Newsletter.
I used it as an example of all the lies and misconceptions that live and grow among traders.
I'll post it again without comments.
Have your personal considerations against the astroidiots and fortune tellers.
What do you read? "Scientific service/advice on Demand and Supply"!!!
No Venus, no Mars, Moon or Jupiter. LOL
Among other fun things: Gann owned a plane that he used to directly inspect the wheat and cotton fields!
Other than astrobullshit!

(Hey, I already posted who the true Jupiter really was... a dear friend!)

Last annotation about the theorists of "What goes down must go up!" (and vice versa.)
Do you know what was the Absolute Eurodollar High?
Do you know what does "Abandon of Level" mean?
(I already told you I was up there... right on the top of the tops!)

You say index are different! I simply don't know. I know nothing. I try to simply follow my SHORT TERM charts.
Up and I'll buy up to the sky.
Down and I'll sell down to the hell.
I don't care a fig about news and stuff related! I'm interest just in traders' reactions and they are on charts. OK?

Preparation and knowledge. (I can't even imagine what it's like to play like this. It's impossible! Period!)

How to build a proper, personal "Mental Road Map" – 26

Pills of trading! Trading in pills.
All my arguments are obviously connected to the idea (absolutely against the opinion of the masses)
that only extremely Short Time Frames allow to follow market movements precisely and safely.
What is noise for the crowd is precious info to me.
I read action bar by bar... candle by candle as the move unfolds.

fti - TAF - What's the point of having Candlestick Charts and not knowing the patterns?

End of the usual rant.

“There is nothing new in Wall Street. There can’t be because speculation is as old as the hills.
Whatever happens in the stock market today has happened before and will happen again.” - Jesse Livermore

"We know that prices move up and down. They always have and they always will.
My theory is that 'Behind these major movements is an irresistible force.'
That is all one needs to know.
It is not good to be too curious about all the reasons behind prices movements. You risk the danger of clouding your mind with non-essentials.
Just recognize that the movement is there and take advantage of it by steering your speculative ship along with the tide.
Do not argues with the condition, and most of all, do not try to combat it. " - Jesse Livermore

To avoid any misunderstanding
I would like to point out that we are in the middle of the test of the Daily Trend (D1)
which for the moment is still definitely UP as regards its major Moving Averages (9-20-50)
but might be considered already inverted DOWN by the pure strict PA.
So we are halfway on that D1 chart... slightly more bearish to be precise! But halfway as general market sentiment. LOL

(Up to 450 possible points of Stop for a Daily Trader...
when I play with 4-7 points of Stop on m1.
Of course and naturally they are actually incompatible universes.)