Every Day I’m Hustlin’
If I would have to name one single quality in this game that separates the few winners from all the losers I’d point at persistence as what counts the most. There’s not one day that goes by when I don’t work my butt off to keep myself on the winning side of the tape. You’ve seen me post quite a bit of educational content as of late and it seems to have been well received as we got several likes by stocktwits and some renowned players. But at the end of the day knowledge and even skill means absolutely zilch if you don’t show up for work every single day and press that button when it’s time to take action.
So let’s see what many of you guys missed out on – tisk tisk… Gold printed me over 3.3R in just two sessions. What’s not immediately apparent just looking at this screen grab is the campaign management that is employed here. Due to increasing volatility I keep things a bit more loose in the beginning and only start trailing at a 1R distance after 2R. Proper campaign management is key to riding out the shake out attempts.
Here is a good example. Wheat is moving slowly but steadily and has already produced over 1.3R. However as you can see my stop is still at -1R. That sometimes backfires but if I move it up to b/e too early I often lose out due to a LKGB move.
EUR/AUD managed to stop me out and it actually wasn’t easy as I use sort of a lazy stop that counts down the attempts of touching it. This often helps me avoid a quick FU stab lower followed by a jump up, but it’s not a guarantee to sit out everything as every symbol moves differently in various market phases. As you can see EUR/AUD churns you to hell and then takes off like a rocket. Not an easy pair but it netted me 2R in three days.
Alright, we’ve got a lot of material today and the market has already opened. The spoos look like a decent long position here, assuming we get another dip lower. Yes, I’m stingy – sometimes it backfires but on average I get the entries I want.
On the long term panel the spoos are looking delicious. So far the trend is backing the bulls and the Zero signal on the hourly remains supportive. BUT I very much like to see what happens near 2110 – it’s the gateway to new historic highs and gauging momentum there will be key. I won’t rush into short positions or even bearish option strategies at this point however.
EUR/GBP – I’m going to grab a long here on a little dip lower. Could be done here but it’s possible we’ll visit the 100-day SMA. I love the hourly BB however and this thing looks like it’s ready to pop.
CAD/CHF – the reason why I’m trying a long here is actually the long term panel. It’s possible this one turns into a long trending candidate. But for now I’ll attempt to catch a push higher and ride it lower back inside the 100-day Bollinger.
Soybean oil attempting to recover after a deeeeep dip lower. I’m feeling fearless and so I’m trying a long here with a stop below. Since this screengrab the market actually opened below me and so I moved my LIMIT a bit lower and the stop to 33.2.
But we’re just getting warmed up. Please join me in the lair:
It's not too late - learn how to consistently bank coin without news, drama, and all the 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.