Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Tuesday, March 21, 2017

0.00RR

Another scratch day....So strange this game we play. So much of what we do it not mechanical or rules driven but instead is emotional or mental. Our rational self knows what to do and yet the monkey brain interferes so often it feels as though the monkey brain is our true self. Still, doing the right thing is the only way to make money and so the pursuit of rational trading continues.

I left money on the table with the last trade. Quite a lot of it actually but I had no premise below the LOD which meant I exited that last trade a few ticks before the support area. That orange line is yesterday's 50% level. So far, quite a bit of support there over multiple attempts so reasonable to exit there.

Time to pack it in. I'm having coffee with my last surviving uncle on my mom's side of the family. He and my father were quite close and he called yesterday and wanted to chat. I suspect he's missing my dad pretty bad. Anyway, looking forward to seeing him again.


10 comments:

  1. Your "NO" reason. These news flashes are crazy lately. http://www.zerohedge.com/news/2017-03-21/oil-pumpsndumps-after-russia-mentions-production-cut

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  2. ZH "news" ain't the reason. It NEVER is.

    Reality is often a lot simpler. If you loosen the lugs on a wheel and driving, one day, out of the blue, shit hits the fan.

    ZH will never get it.

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    Replies
    1. Alos, sorry if I sound like a know-it-all-asshat. How quickly have we forgotten 1987, 2000, 2001, 2008, 2010.

      This ain't the endgame, The fat lady is warming up

      Delete
    2. Help those you can, though it is not a persons responsibility to help everyone.

      “What experience and history teaches us is that people and governments have never learned anything from history, or acted on principles deduced from it.”
      -Hegel

      Delete
  3. I haven't read ZH in at least a year....non stop fear mongering....they might be right but I was tired of taking it all in.

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  4. Zerohedge is mostly garbage but it does explain some of the crude oil spikes pretty well imho. Haven't found a better, free, more real-time source for oil news.

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  5. Hi MBAG, this was a misplaced causality, if you could split the volume into market buys and sells, you would see there was an untested areas where stops resided. Market makers know this, and if the news did spike the price, there knew how far to let it go before slamming it back down....

    In other words, just another stop run. Trade FX for a few years, you will be amazed at where the markets stops in almost every currency

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  6. Something like this........GBPUSD....https://goo.gl/5aRiRL

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  7. This stop running thing seems to be SOP. Almost required for all reversals.

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