Avoid living in the “should be” world. Live in the “is” world. That will keep your feet planted in reality for your profitable stock trading or profitable futures trading efforts. If anyone is magically going to appear and just suddenly make your trading life better, you have to know the only person that can perform…
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Punted Away
I’m conflicted over the Bitcoin debacle. On the one hand, as an entrepreneurial libertarian I’m against government overreach and ever increasing regulation. But in these cases like the recent case of F.T.X., I think we can all agree it’s become too easy to dip a hand into the cookie jar. Apart from the obvious massive…
Stings Like a Bee
Put myself on stand-by alert Friday expecting to see the March Aussie continue to rally. I also expected thin volume ahead of the long weekend. Now I see on the daily time frame, volume was fairly modest ahead of the pending New Year’s break in trading sessions. Didn’t we all need it? One reason in…
There’s No Joy in the Bahamas Tonight
I’ve been writing about the crypto scams for years on my little hobby blog here. Believe me, it gives me NO joy to see this mess unravelling. The best overview I’ve seen yet other than Joe Rogan talking about how stupid Sam Bankman-Fried is to be even talking out loud about ANYTHING that will incriminate…
Slamming of the Bulls
And I don’t mean anything to do with Cuenca de Pamplona! Being U.S. Thanksgiving today I’ve got time to recap the trauma felt yesterday by any small Gold trader who got slammed across the stop running event we all witnessed. I was NOT long Gold because about a half year ago I coined the term…
The Biggest Ponzi Scheme
I’ll leave it to https://www.cnn.com/2022/11/12/business/ftx-missing-funds/index.html to continue with the tale of woe I’ve been writing about for years!
Outside Bar Gives Room to Play
Caught a nice rally last night but when I review the daily bar it qualified for a day trader’s dream… which I am NOT. Huge range in both directions with very little net change. But there’s profit inside those big bars if you know where to look for it. No trick but all treat over…
After Such an Uphill Climb
One short speech in Jackson Hole Wyoming illustrates why it’s always good to stand aside when hyperbole hits the fan. All that tough slogging uphill placed in jeopardy in one afternoon. Hopefully you weren’t long. I stood aside the entire day. Just too much at stake here for a small little trader like me. The…
Waiting for the Low
An excellent week of volatility in the Canadian dollar futures contract September . This setup was so appealing I put it on during Globex, tucked the stop right above, posted it to twitter @TraderDick1 and went to bed. Didn’t even wait for London to open. Took big profits the following opening and worked it back…