Best Entries Ever

Let me be crystal clear about one thing: I don’t blame you for being confused and I definitely do not blame you for the mistakes you may have made in the past. Trust me – we have all been there. As a matter of fact I am rather impressed when I come across the occasional retail rat who somehow managed to overcome years of misinformation, false trading prophets/gurus, ingrained misconceptions, and the daily onslaught of brainwashing dished out by the MSM. To negotiate this minefield of traps is tantamount to being raised in some urban slum surrounded by violence, drugs, disease, temptation and somehow managing to graduate summa cum laude at Harvard or Oxford.

What many of you do not fully realize is that the financial industry as a whole is organized as a walk of the lambs into slaughter. It has always been that way but in recent years the situation has become quite a bit more polarized. Just because you were successful ten or twenty years ago doesn’t mean you’ll be able to cut it in today’s cut throat market. It’s a bloody arms race out there and you’re equipped with a bee-bee gun while they’re strapping AKs, SCARs, and M4s.

Clearly I will not be able to make everyone see the light here and neither should I try. Obviously I would love to but the statistics speak for themselves and the market is a zero sum game. The best I can do here on a daily basis is to document my own activities and as such lead by example. In addition I have over the past few years produced literally thousands of posts covering a laundry list of trading related subjects. It is up to you to spend a few minutes each day to absorb this information and to internalize the lessons over time. All the technical aspects of trading are just the stepping stones to the real battles ahead – overcoming your ego and a long list of personal biases. Then the real work begins – finding and refining an edge which you will hopefully leverage for years to come. The journey is not a linear one – if you doubt that then look no further than Jesse Livermore who made a great fortune during the crash of 1929 and then lost it all.

“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.” —Jesse Livermore, How To Trade In Stocks

It seems that yesterday was my lucky day as I went short the spoos just a few ticks away from the highs. I’ve moved my stop near the recent spike high. Again, I don’t expect much to come out of this but thus far it’s been fun.

But nothing beats the entry I snagged on the AUD/NZD – you may recall that I was waiting for a touch of that 100-hour and the NLSL which I barely got. Just minutes later it drove higher and hasn’t looked back. As it’s now back at the diagonal on the daily I’m taking profits and call it a campaign.

A few more goodies for the subs below the fold:

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.

Cheers,