Blogging Is A Two-Way Street
I have to say that I’m pretty pissed off tonight. Not about the market – it did what the zero strongly suggested it would do all day – break the bear wedge. Not about the fact that my favorite strip joint burned down today either. No, I’m miffed about you guys.
Seriously, I just hopped over to the Slope and there are basically pages after pages of analysis, trade symbols, insights, etc. When I compare that with what I saw today right here I’m really disappointed. I got 30 questions about why the indicator is now blue and why it briefly swung up for a second and then back. Or why the 30 min flags earlier than the 1 hour, or that v. 1.0 gave a slightly later signal than v. 2.0.
Folks – I’m not going to burn trading hours explaining to you guys how indicators work, that’s why I posted a tutorial. They behave like candle charts or line charts, which means that the tip changes as the market changes until the chart time interval is over. Not sure why that is confusing to anyone. This is starting to take away time from my own trading and thus affects my profitability.
In the last few days I have been going out of my way to guide you leeches through his difficult tape. I even managed to improve on an already extra-ordinary trend indicator which is available for free to all of you right now. Has anyone at least paper traded this thing today? Well, you should have as the 1hr gave us a red flag at 11:17am EST. And stayed red most of the day, only turning blue for half an hour or so. The SPX was at 870 then and it closed today at 845 – I’m not even counting the 834 low for today. Now, 25 points are not exactly much compared with some other days recently, but the point here is that it was spot on and everyone seemed to be caught like a deer in headlights.
Where are the long lists of short or long candidates? We were obviously in a rising wedge – or something else that would resolve one way or the other. I know the tape has been mind numbing of late, but that’s why I mentioned one of my favorite quotes today:
The bus moves fastest once everyone got off.
Which is exactly what happened. When the lower wedge was breached I was posting a shit load of short candidates. From thousands of stock in the NYSE there was nothing you guys were looking at? Here are the three P’s that make the difference between traders who make money and the ones who lose:
The way it’s been going lately I might have to reduce the time I spent blogging and focus on finding profitable trades. I’m not making a dime out of all this and hey that’s okay – I don’t even bother you guys with an ad banner. But when I see mucho effort go in and very little come back out I get a bit irritated. This blog is to incentivize you guys to become better traders. That’s why I made the zero available, that’s why I post early morning charts with the retracement levels, and that’s why I keep commenting on pretty much every market move.
Blogging is a two-way street. Throw something back that has substance. I don’t care about hearing why you screwed up this trade and that trade and that you’re pissed off at the market. It’s okay to vent sometimes (I do the same) but the scale should swing in the direction of substance. Tell me what you are trading and why. If you are not trading, tell me what you have your eyes on – what the TA is on it – is it overbought/oversold – what are its main characteristics based on your experience? What your favorite sectors are right now, etc.
I keep seeing comments like:
‘SPX at 820 today!!! This will separate the men from the mice!’
Completely useless – no matter if we hit 820 or not. Where are the charts? What are you basing your insights on? I’m going to start deleting comments from posters who just throw out empty predictions and don’t back them up. And get yourself set up with jing – I’ve been asking for a month now and I don’t want to wait until Christmas (you know who you are).
Yes, I’m miffed tonight – if I don’t sense a change here I will start scaling this shit back. Feels like a fucking barbershop in here lately. I don’t care what other bloggers do or don’t – but I won’t tolerate slippage around here. More than nine out of 10 traders fail in their first year. Guess what – the remaining one works his ass off at least 12 hours/day – 24×7. It’s the stainless steel rat who beats all the others and walks away with a mountain of cheese.
So tomorrow when you show up at your trading desk – wherever that may be – ask yourself the question:
Am I a stainless rat or a mouse? I don’t care if all the mice leave and I get only ten comments from a handful of rats per day. This is not a popularity contest – I don’t give a rat’s rectum about getting some damn blogging award. Because I know the rest of us will be banking coin instead.
I’m going to crank up some Rammstein now and blow off some steam…