ETMA_The Evolution

The Update of this trade, support already broken.

Good day bass, Some time ur nt been posting ur ideas here anymore. Hope everything is going well and business? And how abt ur family? Well I still need u here and I hope to hear from u again. Tks for everything. Regards.

J., Bro, i being very busy with developing and back testing all kind of Trend following and Swing systems that didn't leave me anytime for something else, of course beside my daily workload, thank you for your nice words and for sticking here with me.

Now come the squeeze in waiting for the Lonnie's Employment change and unemployment rate this afternoon, so hold on tight its gonna be a violent breakout and i suppose a long journey afterwards for the UCAD pair.

Best,
B.R.

For ur eyes only J., another update of the EA trade and GA Trade, again both showing a clear H&S Pattern, NFP today so be very careful in entering any short term trade unless you're a pro news trader.

The DX (USD) is making a breakthrough resistance, important to note.

The UCAD is pocking his nose under my Donchian lower level, time to pay a close attention for a short trade play.

Inline with my latest post on the Loonie, a double super trend and the 200dema break down but not the support yet, and if yes than another level of support is waiting a little bit further down before the free fall.

The Cable is causing havoc today after the Manufacturing Production m/m release which came way better than expected, the Resistance is being broken taking my Stop Loss with it, i expect a retest any time tomorrow or the day after, the EU is trying to do the same but it seems that is capped by the 3805 ceiling, a break of this level would expose the top @ 3966.

Best,
B.R.

UJ Still going strong and soon will be met with a strong support level, if the break of the UTL's hold for the day than we can expect a much deeper fall after a small retracement to retest the Broken UTL's.

Probably the reversal from support is here, a Bullish pinbar has being printed on the H4, probably not the best setup taking in consideration that this is not a major support, the most important one is a little bit below on the D1 @ 101.190-95, Notice the Divergences on the CCI and The RSI, taking in consideration the broken UTL's from yesterday one can assume that this reversal will be capped by these UTL's once support turned Resistance now .

Still with the trend and you.

No sir, I already took profit on ucad wt our christmass tree template and am hoping to catch reversals on Eusd Ujpy and Uchf although am still holding on Gcad wt are ur thought on this pair. Regards

All that u need to know about the GCAD is in this Pic, as u can see a triple top is in place which lead to the conclusion that the Bears defended this level pretty strongly and bit by bit the bulls just gave up and joined the Bears in their raid which lead to the failure 3 times to break resistance, a break of support will surely lead to a strong down move.

Best,
B.R.

The CAD Family.

Triple bottom for the DX (USD) or can we say a 10th one, is it gonna hold support or breakdown and open the door for another bearish leg down, taking in consideration that this 79.00 level is very crucial, PA visited this level 10 times in the last 2 years and always bounced back up.

May the Trend be with you.

The Nasdaq crash.

Shorting the cable after the break of the first support level with a stop loss just above the recent high, waiting for a confirmation from the H4 to scale in another lot.

P.S. go on your weekly TF to see why i took the short early.

Taking a short term long UCAD after the break of major short term resistance, not scaling in another lot, go to your daily TF to see why, this trade is counter swap.

Speaks my mind :

If I Were a Beginning Trader

If I were a beginning independent trader and knew what I know now after 30 years in the markets, what would I do? A few ideas come to mind:
1) I wouldn't give up my day job quickly - I realize now more than I did as a newbie that only a fraction of traders make money, only a fraction of those continue to make money over time, and only a fraction of those are sufficiently capitalized to make a living from their trading. As I mentioned in a recent blog post, pursuing trading full time before you've developed a track record of success is not a dream; it's a fantasy.
2) I would undertake considerable simulated trading before trading live - When I think of all the practice hours on the basketball court working on dribbling, rebounding, passing, defending--and when I think of all the practice time in scrimmage getting plays down pat--I realize that game time is just the tip of a large learning iceberg. Trading truly is the only performance domain I know of in which a majority of participants expect to spend less time in practice than in actual live performance. No wonder so many lose money.
3) I would try out many markets and time frames before settling on any one - I'm continually amazed by how traders who are mediocre performers in one market can blossom once they move to a different market. I'm also impressed by the ways traders find time frames that work for their personal needs, capturing the right blend of market involvement and freedom from the screen.
4) I would find just one or two setup patterns and master those - It's hard to imagine successfully trading multiple patterns and markets before mastering one. By working on a specific setup, a trader can then focus attention on pattern recognition, execution skills, money management, and discipline: the skills that will be of help when it comes time to extend the trading reach. It took many, many months of printing out and studying intraday charts for me to find the few patterns that I now trade.
Most of all, if I were a beginning trader and knew what I know now, I'd realize that trading is no less of a business than opening a store or a doctor's office. It requires talents, developed skills, and a clear plan for success. It requires adequate capitalization, and it requires a firm ability to limit overhead during the early, lean years. Fantasies are exciting, but there is so much more to performance success in any discipline.

Dr. Brett Steenbarger.

Enjoy,
B.R.

What You Do When Markets Are Not Open

I'm convinced that one's market routines during periods when their trading markets are not open have a lot to do with long-term success. Evenings and weekends are ideal times for market research. They provide opportunities to step back and see larger trends and themes in markets and develop ideas for the coming day and week. I consistently find that my preparation during evenings, early mornings, and weekends is correlated with my success the next day and week.
Think of two traders. One follows markets during trading hours; the other does the same but also studies charts and related markets--as well as his/her own trades--before the open and after the close. Day after day, think of how much more exposure to market patterns the second trader has compared with the first.
The really great performers in any field are distinguished by effort and the proper direction of that effort. We see it among Olympic athletes, artists, and scientists. The more mediocre performers simply don't break a sweat. They put in the normal hours, the normal effort--and they achieve very normal (average) returns.
My work day starts faithfully by 5 AM; many days earlier. By noon I've worked as many hours as many people put it during a full work day. My weekend days are exactly the same. By the time a week has ended, I have easily exposed myself to twice as much information, twice as many market patterns, as the average trader. Compound that over time, and it's not difficult to see how my learning curve can look radically different from someone else's after a year's time.
When you love what you're doing, it's not really work; it doesn't feel like effort. So what are people confessing when they don't make the extraordinary efforts?

Dr. Brett Steenbarger.