Scaring The Children

Some of you guys have to start paying attention as the comment section is starting to resemble the Slope. Meanwhile I see very little activity on the trading front despite an avalanche of setups I selflessly scraped together despite an ongoing world cup game with Germany in the lead. So since nobody seems to be interested in trading let’s revisit some of yesterday’s victims to give you a rough idea of what you’ve been missing out on:

If against all odds you did pay attention – if just momentarily – then you remember that I predicted at least one attempt to scare the children – well, so far we got three. All of them have been contained in within the 25-hour BB and that is positive.

The SPX is also sticking by the script thus far as the 100-hour SMA has remained in place. It’s now official support and will be instrumental in defining an inflection/trigger point, especially once it meets up with its 25-hour SMA.

However I am seeing very minimal activity on the buying front here – that intra-day range on our Zero indicator hasn’t even scraped the 0.5 mark and that still leaves the door open for our Soylent Orange scenario (i.e. a distribution push higher followed by another slide).

Nevertheless we have a long signal on the YM depending on whether you count yesterday’s session a hammer. I have modified the current campaign to be long at yesterday’s highs and a stop at the inside day’s lows. I am only going to throw 1/2R on this as I’m not yet convinced that the long side has a lot of rope here.

Alright – let’s see where we are on our current victims. Here’s crude which has breached lower and thus far managed to earn a bit under 0.5R. Nothing to write home about just yet and nothing yet to do – leave your ISL intact.

Coffee much more fun it seems and that shooting start short was triggered early today. Already dropped below the one R mark and unfortunately that means we will have to close it out unless it somehow manages to close below by the end of the session.

Soybeans also on the way – I was actually hoping it would take the last kiss goodbye trigger and here we are, almost one R earned already. I’m going to give this a lot of rope actually as you need to let the futures run once they pick up the pace – and that means Heisenberg style fighting rules (no, we’re not blowing anyone up today and that includes your account).

Finally AUD/USD – almost touched the 1R mark after a fast drop lower. It’s now facing its 25-day SMA and I’m actually 50/50 on whether it can drop below it. IF it can then we are golden – nothing to do here and therefore let’s not over think this, alright?

Look guys – when it comes to trading you need to realize that you will have to endure long periods of mind numbing inactivity followed by a short spurts of running like a hare. As you may imagine, the tough part of running a daily trading blog is that you guys are naturally wired to seek entertainment and excitement while the Mole asks you for patience and hard work. And of course once the iron is hot – you have GOT to show up and be prepared to wield it. Of course my job here is not to give you what WANT – it is giving you what you NEED to succeed personally and to bank coin. Meditate on that for a day or two and then write me at admin@ and share what you have learned.

By the way – on the sharing front. It’s been underwhelming and I only see two possibilities here – either you are all banking coin and there’s nothing for you to left to learn/do/overcome. Or you are just wasting time as you’re not putting the lessons Scott and I have been offering into practice. You know – it’s all the same to me – it is your own success that’s in question. Remember, only the top 1% of all traders bank coin consistently – that is the brutal statistic that very few retail traders are able to wrap their minds around. The market is a zero sum game – for me and my nefarious pals to bank handsome coin it takes a lot of hapless suckers on the other side of our trades. I really hope that’s not one of you guys but if you’re not stepping up, well – I for one am open for business 🙂

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.

Cheers,