Delayed Gratification or Compound Interest? Two influential men you’ve heard about had something to say about that. Ideas that have ‘stuck’ through time. I’m not influential but I too have some thoughts on the matter. While critical for success delayed gratification can be a double edged sword. It’s a principle that can be learned early…
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You’re NOT in Charge of Much
Common wisdom (which actually isn’t so common) preaches to limit your losses… cut and run early. Much easier said than done. Let’s accept that the Commodity, Stock or Forex trading game is not so much an actual functioning reality as much as a virtual game of wits tempered with a good measure of psychology. All…
It Gives me Great Pleasure
Very gratifying to post my action on today’s short “M” (June – but you already know that hopefully) Canadian $$.In truth I had to chase this one a bit. When the selling started I was integrating the daily down into the hourly, seeing the momentum pick up so I went into the 15 minute. Couldn’t…
When Time Isn’t an Option…Try Options
Good Friday tomorrow with all markets closed. Gold is the only thing trading as we speak and Bitcoin addicts are at it in the Globex session. I’ve been diligently working away putting the final touches on my Commodity and Forex Trader’s Coaching program deliverable very soon. As of tonight I have a very basic email…
Gut Wrenching Running of the Stops
I did NOT trade this setup on, before or after the F.O.M.C. meeting and statement last week but this kind of gut wrenching action is why I personally stay away from trading financial events like that. You can just SEE the professionals mopping the floor with us amateurs. https://www.tradingview.com/x/R67VYFrZ/ It didn’t take long to shake…
Where Does the Time Go?
Realizing it’s been several weeks I thought it best to check in and bring things up to date. Many missed trading opportunities since my last posting. Putting no charts up here or https://twitter.com/TraderDick1 means I’ve made no trades. There are no trades to report despite seeing huge opportunities on my charts that meet my rules….
So Much… So Fast
With the incredible daily run-up over such a short period of time, this countertrend presented itself Thursday before Tokyo opened their Friday Session. The setup was risky going against many of my rules. But rules are meant to be broken, right? Well not really in futures trading but with my total arsenal of tools I…
Flat is a Position
The opening bar Sunday October 3, 2021 may set up a breakout after a full week of indecision and range bound currency trading. With all the back and forth in Washington over budget arguments, nothing is within the ordinary. Consolidating currencies reflect accumulation making retails traders like me nervous. And nervous we should all be…
Against the Wind
It’s SO hard to resist a run-up like this but rules are rules. The overall trend is down until proven otherwise. And sitting on my hands gets frustrating. However, while missing some potential profits, the payoff is sticking to my plan and not counter-trend trading. https://twitter.com/TraderDick1
Like a Hot Knife Through Butter
Rare that I go short on a Friday but the double top pre entry proved interesting on the 1 hour chart. So I looked into it further. Sunday night Globex called for sticking with the plan and staying short. Been a busy week setting up a few on-line changes. Working on another platform to assist…