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Nobody Gets A Free Pass

Nobody Gets A Free Pass

by The MoleMay 1, 2019

This is going to be a short post as I have personal business to attend to, plus I don’t feel overly inspired to share my insights today. It’s always important to listen to your subconscious especially when it starts blinking little warnings lights in the back of our head. As the saying goes: if your head is in the game, work on your game. If your head is not in the game work on your head. Or something like that… I’m sure you get the gist of it.

Anyway, my ‘lucky stop streak’ so to say ended yesterday as I got taken to the woodshed like everyone else. Yes it was a clear and obvious whack job but that’s not why I was miffed when I got home.

It’s missing the re-entry that really pissed me off which I was unable to do as I was lifting heavy things at the gym. I very much enjoy the shifted trading hours over here in Europe (especially compared with California) but it makes intra-day trading activities very difficult. As I’m not much of a morning person when it comes to exercise missing the occasional bull or bear trap unfortunately is a reality I have to live with.

However I hope that some of you guys fared better, especially if you were a Zero subscriber. Because the signal could not have been more clear – let’s review:

  • First we got an early session take down which was unsupported by selling pressure (-0.2 signal) which was promptly reversed.
  • The push higher was accompanied by a positive zero signal, albeit not strong but strongly suggesting that monkey business was at hand.
  • Finally we got a VWAP breach without as much as a retest.

Writing meet wall. In summary around ES 2920 at the latest the odds strongly supported a snap back and the chances of a continued short squeeze were extremely high. It’s where I would have entered if I wasn’t so damn vain and concerned about my waistline. I guess I only have myself to blame… 😉

Anyway, if you’re an experienced Zero sub then I’m pretty confident you were on top of this sucker. If you’re not a Zero sub then point your browser here and get yourself hooked up. It’s the price of a single ES handle and basically pays for itself.

The EUR/USD campaign is still looking positive but until it pushes to 2R I am keeping my trail at break/even.

Crude isn’t helping my current mood as it has turned on a dime and almost stopped me out at break/even. BTW if you’re not in this one then I think this is an excellent entry range as you will know if you’re wrong probably by this afternoon.

Excellent benefit/risk ratio and due to the small stop range also available to people will < $100k accounts (assuming you can afford one contract). Never risk more than 0.5% of your assets on crude by the way. Trust me, you’ll thank me later.

Actually you probably won’t but do stick with it anyway. Alright, I’m off – see you tomorrow.

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.
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