What can I say – the session isn’t over but we’ve been kicking ass and taking numbers all day. I just opened up the previous post to all you leeches so feel free to compare the setups I posted this morning and what I’m showing below:
As you recall we already manhandled gold yesterday but nothing entertaines me more than a double slam. Earlier this morning the shiny stuff was wobbling sideways trying to find its bearings – I was determined to get positioned near that 25-hour SMA which was falling hard. That ADP report tossed that setup candle around a bit but trying to see the positive in all things I realized that it may serve us well to place our respective stops. The setup resolved to the downside which meant holding your nose and putting a stop above the prior high after placing a short position. The rest, once again, is history. I took this one off the table near 1560.
Silver moved a bit slower and I didn’t take this one – however it did give us early hints that the current trend may prevail. Still resolved very favorable though – if you took it then take profits and smile all the way to the bank.
Keeping the last of the precious ones for last – platinum! What can I say – kowabunga!! Didn’t expect that but definitely enjoyed the ride.
The NQ setup turned out no different – I am out near the 100-hour SMA.
YM – approaching its SMA but I’m out.
And even AUD/CHF decided to make a move – I was looking for either a breach of the NLBL above or a drop through the diagonal. I managed to jump on board before it dropped past that NLSL that expired yesterday.
And the moral of the story?
You don’t need a PhD in technical analysis to bank coin on a regular basis. It doesn’t matter where you live, how smart you are, how tall you are, how sexy or handsome, how educated. It doesn’t matter what the color of your skin is or if you momma loves you. JUST GO WITH THE PROGRAM. How many setups have I presented here over the past few years? How many of those did you play? What we do here is not rocket science or brain surgery (or even rocket surgery) – our setups are based on a proven edge that is the result of years of rigorous analysis mixed with hard work. Go ahead – spend the next decade developing your own pet strategy. Or just go with the program and bank coin consistently and without the headaches.
What continues to escape me is that I continue to post successful setups here on a regular basis. However very rarely do I see them addressed or even mentioned in the comment section. I would very much like to believe in the silent majority that is trading along and banking coin – but somehow I have the feeling I would be fooling myself. One of the reasons I started this blog was to help the little guy survive in today’s fast paced and cut throat market place. That mission is as alive today as it was in 2008. The only thing that has changed is the direction of the market.
In the end however what should matter the most is your core mission when it comes to trading the market. And that ought to be to bank coin with as little effort as possible as consistently as possible. I may be biased but I do believe that our group here offers just that possibility. For what it’s worth I would very much like to see a bit more constructive activity in the comment section. It’s tough to keep up the energy if it feels like you’re talking to yourself 😉
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.