Step One – Showing Up

If you have been visiting the lair for more than a few weeks you should have learned one thing most of all. If the Mole points at an inflection point and says that you cannot by any chance miss this one then you better start paying attention. Now much to my chagrin I just learned that a whopping three people took last night’s inside day entries and quite frankly that sucks the energy right out of me. I hope you can’t blame me for throwing up my hands and then reaching for a bottle of Hefeweizen – not necessarily in that order. Maybe I throw in some horse quencher next time – what you think?

So in case I somehow omitted to mention this in the past (which I really didn’t) – let me share with you the secret of becoming a successful and consistent trader. Nope, it’s not the clue pills you ordered from Sheep Marketplace (bad news btw), and neither is it the wall full of trading books you pretend to have read cover to cover. No, it’s a lot more simple and guess what – everyone can do it!

There you go. It’s all about hard work and showing up. Every single fucking day. Whether you feel like it or not. Whether your girlfriend put out last night or not. No matter if your wife hates your guts because she found that ATM receipt from the strip joint. You’re having a bad hair day? Guess what snowflake – nobody cares. Get your ass into gear and then follow the program – all there is to it.

Alright – to the selected few who actually pulled the trigger this morning I owe an update as we now grazed the 1R mark and that means we will need to take action near the close. As my crystal ball is still in the shop there are two scenarios I need to cover – 1. we close below 1R and 2. we close above it. But first let’s one more time cover how we calculated it in the first place.

Rather simply we take the span of the inside day candle and then add one tick above and one below. I did the math for you and on the spoos (which we used for the early morning entry) we get to 49 ticks (one handle has four ticks). Add two and that gets us to 51. The next thing you do is to head to our handy futures risk calculator and figure out how many contracts you are allowed to take on:

For ships and giggles let’s pretend you hadn’t blown grandma’s retirement account on coked out strippers and instead used it to get positioned in the spoos. Simply select the right contract, add your stop loss (51 ticks) press calculate and Bob’s your uncle. Okay, now let me show you something cool:

Now you go to Bernie’s Pyramid Calculator which can help you to pre-calculate your R intervals. Do it and then take a screengrab and you are good to go. The 12.75 in green is simply the stop in handles (51 ticks *0.25) and otherwise you just have to add your trigger price. Pretty neat ey?

Okay, back to our trade. Remember we either close above or below the 1R mark? If we are closing the day below it then that’s it – you are OUT! You know – baseball style and make sure you wear spikes to avoid slippage (hehe).

If we close above 1796.25 then you stay in the trade but advance your current stop from 1781.75 (yesterday’s low minus one tick) to 196.25. That’s it – you’re done.

And so am I – enjoy your weekend 🙂

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,