Discretionary Trading
Now Reading
Hardcore Traders
177

Hardcore Traders

by The MoleJuly 5, 2018

Say what? What the heck are hardcore traders? They are comprised of a small minority of people who do not accept failure as an option, who are willing to give whatever it takes to make it to the top, to reach their full potential and join a select community of pros who are profitable on a consistent basis. Hardcore traders are not born, but forged in the flames of their own passion, their unyielding determination, and their willingness to succeed – not matter what. They are the few among the many who regard failure as nothing but an opportunity to learn, improve, and push themselves to the next level.

If you happen to read this today in the early morning of July 5th, ready to rock & roll, while everyone else is kicking back or goofing around, then you either live outside of the U.S. or you may just be a hardcore trader. Either way this post is just for you ๐Ÿ˜‰

Alright, now that you’re pumped let’s talk setups. I’m calling a second mulligan (rules are for pikers) on the E-Mini after being stopped out twice already, once at break/even after almost 2R of paper profits and the second time a little bit < b/e.

It’s hard to resist this compression on the hourly panel which may produce a break out higher. Of course this entry is a bit more risky as a push higher may be preceded by a false break out just like last time before the the September roll over. Especially now during low participation holiday week tape.

Anyway, I’ll be your Huckleberry – 0.3% entry here with a stop < 2705. Either this thing gets going soon here or we are looking at a pretty messy summer.

Crude is taking a bit of a breather which has produced a beautiful Bollinger compression on the hourly panel. When looking at charts like these I can’t help but think of Richard Dennis, Bill Eckhardt and the turtle system they put together in the 1980s. You know buy high and sell low, fade the news.

Of course trend trading has lower odds as it lives by outliers (traditionally around 30% plus minus), so I’m deploying only 0.5% here and will increase position sizing on the way up. My stop is below the 72 mark, which hopefully will weather out any obligatory gyrations prior to a move higher.

Two more goodies below the fold:

evil_separator

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.

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


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c