We Fight For That Inch

The past few months of price action, albeit bullish on the surface, have been marked by a constant back/forth that, judging by the increasing lack of commentary in our own beloved halls of market domination, is starting to take its toll. And may I add that most of our esteemed visitors are by no means spring chicken and thus have been around the trading block a few times. But in the end when the going gets tough it always befalls on me – your most humble host – to rile the troops and to keep everyone from going off script.

It is a bitter sweet responsibility I hold dear and that incidentally is not as altruistic as it may sound – far from it. By preaching the daily gospel to my intrepid readers I repeatedly remind myself to not embark on the dark path and to always keep my trading and emotions strictly separate.

A public record of one’s daily trading activity does not leave much room for self deception, except perhaps occasional allusions of grandeur which Ms. Market is always very quick to correct. I am convinced that posting on Evil Speculator allows me to channel the best and most nefarious Market Mole I could possibly be.

And no matter who, what, or where you are, it is my hope that the daily musings offered here over the years have been of similar service to you as well.

Meanwhile down in the dusty trading lair I just snagged a long entry on the E-Mini with a stop < ES 2934. To quote Al Pacino: “On this team we fight for that inch”.

Yes sirreee.

Clearly momentum is slowly draining out of equities and a deeper correction beckons. But then again we said that weeks ago and equities have continued to happily bubble their way higher. So another long position it shall be and leave it up to Ms. Market to prove us right or wrong.

After extracting 1.5R over a 2 week long campaign we’re back in crude and thus far it’s looking pretty damn peachy. My stop has been advanced to break/even with hopes of continuation higher.

I’m calling a special PITA symbol exception on the EUR/USD for having advanced my stop to break/even ahead of price scraping 1.2R. Yes I promise to whip myself before dinner tonight as penitence (plus to atone for many older sins), but it had to be done as I know this cross all to well and thus understand that a break/down here would most likely lead quite a bit lower.

A special goodie below for my intrepid subs:

It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Please login or subscribe here to see the remainder of this post.