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1/16/17

Winners and Losers: Scott Galloway


A professor turned entrepreneur, Scott Galloway comes across as a funny and cool tell it like it is digital financial analyst...think Cramer blended with George Carlin. Anybody that can admit to using cocaine, Nexium, and Viagra is worth listening too.

His Youtube videos are well put together and engaging. Check him out at the link below.

Scott Galloway: The Fastest Growing Platform You Probably Don't Know About
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1/14/17

Quote

"We rather confess our moral errors, faults, and crimes than our ignorance."

—Johann Wolfgang von Goethe

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1/9/17

9 Jan 17

Made a few YM trades, all with tight stops that got me out of the market with a small profit. Focusing on capital management, not chasing the market.
In the attached charts, I use a 15min time frame, I also use a Ninja Trader 60min 30min and a 5min chart (not in this post); the larger time frames help to make the overall trend more apparent... don't trade the chop is my daily mantra.
The world has its eyes on Dow 20,000, I have zero expectations of what will happen, don't want to cloud my judgment for the next trade. In the month of January I do expect to see more volatility...US presidential inauguration.
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1/7/17

6 Jan 17

The (YM) market interpeted the jobs numbers as mostly positve, you have to go with the flow. As much as I hate being bullish, I was fortunate enough to get a decent amount of points. I waited a hour after market open to find the support and resistance. In this volatile market conditions, I made one trade, held my stop for 20 min before moving it to a area of support allowing price to move further in my favor. The volatility has been extreme, happy to end the week with a profit.
Note: on a 15min chart, the bullish pattern looks a lot more obvious than it would on a faster chart.
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1/5/17

5 Jan 2017

Zero trades taken today, potential short opportunity in the morning was available. Not quite a full time trader yet.

Jobs Report in the morning. 


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1/3/17

Is Retail Trading Still A Thing?

The question is not meant to be answered, it was more philosophical in nature. To be more specific, can a retail trader compete in the hyper-volatile market? That's another question I'm not looking for an answer for... maybe I don't want to hear an answer that doesn't fit my personal narrative?
Good old fashion technical analysis is higher highs and lower lows, support and resistance use to matter. Decisions to buy or sell are made within the "agreed" upon market dynamics. This has been the  rule of thumb for any retail trader seeking consistent performance, with a good understanding of S&R. It's not an exact science, but if your timing was in the ballpark with a decent stop in place, a trader could regularly capture a good trend for an ample amount of points.

I was going to post some old charts as an example of the kind of trading conditions I am accustom to seeing and contrast them against recent market conditions... but I'm feeling lazy and I'd rather have a drink now.




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12/15/16

See you in 2017

Are you having  a tough time trading the current volatility? Well, there's space on the sidelines to wait it out until market conditions are conducive to retail trading. Im sitting it out  untill the New Year.
Good trading in 2017!
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12/14/16

Overbought?

The below Santoli article sums up my trading strategy for 2017, a marekt correction is near. I try my best to be a good technical trader, I work hard not to have a bias to which direction the market will trend so my mind can be clear to make the right trade. After looking at years of previous trading results, I clearly have a preference for shorting, my success/win rate is a lot better when markets are selling-off.
The psychological Dow number is 20,000, will it serve as resistance, or will it be broken and become the new support?
What ever happens, I'm looking forward to getting back to a more orderly market... if that ever existed.
http://www.cnbc.com/2016/12/14/santoli-tired-overbought-dow-fails-to-hit-20000-as-fed-hikes-rates.html
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11/22/16

DOW CLOSES ABOVE 19,000



Now that the U.S. elections are a thing of the past, markets have clearly determined to go higher, enlarge part without me on board. My usual indicators to get short or long have been weak to non-existent. I don't remember seeing this kind of volatility for such an extended period of time, I would be interested in knowing how current volatility compares to the previous ten years of market data.

Is this the new normal?

As a contrarian type trader, I am still waiting for if and when the market pulls back, the correction will be a substantial one considering how far the market has moved already. This is one of the longest bull markets in history, I'm hoping to be dialed in and ready for if and when a selloff occurs.  

As I am reminded of the lessons learned by Jesse L. Livermore, I will adapt to the current market conditions.

Here's what we can expect now that the Dow has closed above 19,000




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9/25/16

Take What The Market Is Giving.


Some days
 the nut
 is bigger
 than other days.



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9/8/16

How To Vacation Like a Retail Trader.

Yellowstone Park | Photo by Ashley Knedler

I like to imagine myself as a jet-setting carefree trader. I have gone as far as counting the number of days I would have available to travel by factoring in number of trading days, my expected win/loss ratio and I included sick days.

I'm currently on vacation visiting Yellowstone, instead of planning what my family and I will visit next, I'm thinking about what I would be doing in the market right now, last time I checked ten minutes ago, it looked like a nice selloff. 

Trading is about being in the moment, managing the risk trying to get the entry, stop and exit just right. After years of preparing for trading success, having to learn to detach from what's happening in the market might be more difficult than I would have ever imagined.

My new challenge is to channel that same trading energy, patience and focus into the moment I have when I'm on vacation with the family or spending time with friends. 


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