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3, 2, 1, Aaaaannndddd.... 8/7/20


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Current open.  Idea is to get in at a low risk entry with ideal holding period of 3-8 weeks.  Hopefully a few big winners, some piddly shit wins and losses, and no big losers.  Past or present performance is no indication of future results or something like that.  

 

Annotation 2020-08-07 182355.png

I thought BA would go to zero, but I guess snot.  

A good entry level close to support where you know where the level is that tells you it's wrong, in other words a stop level that keeps your cash largely intact, makes up for a multitude of sins.  

 

 

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35 minutes ago, PullMyFinger said:

I don't know what it is about trading vs. predicting, but about 10 years ago, a friend of mine who was an excellent day trader started a stock market prediction service. Hired a publicist to make TV and radio appearances because she wanted to be a media star. She lost her ability to trade and abandoned the site after about a year. She is still frequently on Crapvision, Fox Business, Cheddar Business and such, touting herself as an "economist" and back to making macro predictions--I bet she still doesn't trade. I thought maybe it was the difference between making short term trades vs. trying to cater to subscribers that don't watch the markets all day, but whatever it was, her ability to trade vanished. Kinda like in the movie Tin Cup where Kevin Costner's character gets the shanks right before the U.S. Open. 

Linda Bradford Raschke? 🧐😇😂

Your friend obviously lost her touch, she lost „the flow“, her „trading brain“ so to say is damaged by external interference.

To „only“ make predictions is like paper trading. I have much respect for the hard work of some market forcasters, but trading your account, where you not only gave gambling money, but most of your net worth, is the real arbiter. THEN you really get to know what the market is, how he effs everyone, how your freak out cause you can‘t accept certain moves... euphoria, depression, regret, manic depression... all within one single week. That‘s the market. 
See, the other day I saw an interview with Ray Dalio. It was 8 long. He basically said: Nothing. 8 mins, it was bla bla, fugazi.

 

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2 minutes ago, DrStool said:

Current open.  Idea is to get in at a low risk entry with ideal holding period of 3-8 weeks.  Hopefully a few big winners, some piddly shit wins and losses, and no big losers.  Past or present performance is no indication of future results or something like that.  

 

Annotation 2020-08-07 182355.png

I thought BA would go to zero, but I guess snot.  

A good entry level close to support where you know where the level is that tells you it's wrong, in other words a stop level that keeps your cash largely intact, makes up for a multitude of sins.  

The shorts have obviously not been great, but at least they're not killing us. Decent entries.  

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6 minutes ago, fxfox said:

Really? That‘s awesome Doc! 😎🏻
 

One of my favourite tracks:

 

That's the classic Philly beat. 

Two Philly kids who came up the way so many of us did. Hard work. Stayed home. Went to school in the city.  

We rode the subway to school every day. Sometimes I'd drive. Left the keys in the car once. 

It got stole. 

Of course. You do not leave your keys in a gold 65 Chevy Impala parked at 13th and Diamond in 1970. No sir. 

6889793925_e72abddbdf_b.jpg

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Same indicators. 30 minute bars. 

A little bumpy, but the turn was evident by 7:30 AM, about 90 minutes before the hourly, and 2 hours ahead of the 45 minute basis. 

This will lead the downturn, but so far, holding up on the buy side through the dips.

 tvc_3b0a3549c64463b7a67d73c7fc41b3a5.png

 

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11 minutes ago, fxfox said:

Linda Bradford Raschke? 🧐😇😂

Your friend obviously lost her touch, she lost „the flow“, her „trading brain“ so to say is damaged by external interference.

To „only“ make predictions is like paper trading. I have much respect for the hard work of some market forcasters, but trading your account, where you not only gave gambling money, but most of your net worth, is the real arbiter. THEN you really get to know what the market is, how he effs everyone, how your freak out cause you can‘t accept certain moves... euphoria, depression, regret, manic depression... all within one single week. That‘s the market. 
See, the other day I saw an interview with Ray Dalio. It was 8 long. He basically said: Nothing. 8 mins, it was bla bla, fugazi.

 

I won't say her name here, but it's not Linda. I also know one of my friend's old media coaches, and she has also made herself really good at not saying anything other than "on the one hand" and "on the other hand", so after the segment you wonder what the heck was just said. The lobbyists for one of the companies I was General Counsel for put us through a bit of media training, and about the first thing they do is teach you how to talk a lot without really saying anything. Mrs. Finger would readily agree that I have that gift. 🤡

Totally agree about paper trading vs. live trading. It's the difference between using live ammo and blanks. 

Doc, sorry to derail the thread. Back to lurking now. :ninja:

P.S. For any Daryl Hall fans, the repeats of "Live From Daryl's House" on AXS TV are awesome. 

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