Time, Energy and Money. Each of us has a finite amount of time, energy, and money; you must choose for yourself how you will spend them. That could be a point of focus to a good, reliable method of operating a trading business.

notice volume

POT

                                   daily

                 

iSPY

  as long as we hold above 50 day sma we are in the bullish mode

"trade what you see, not what you think"

BABA at 100

the margin calls are coming in

The future is unknown!

I don't have a clue which way the market is going, nor do I care. One of the best revelations a new trader can get is that you don't need to know which way the market is going to move in order to make money. When I say the market "should" continue to trend to this major support or resistance it is because I actually don't know for sure.

Trading is best done while knowing you are completely clueless. In that way, you can't be wrong, and pride and emotional attachment are not an issue. For those of you that have traded money for some time you know that false pride and emotional attachment is the killer of good trading. Can you see how admitting you don't know the future is liberating?

 It's better to just let price lead and to follow it with a proven trading system.

fishing

like trading, requires a good dose of patience

Chaos and Trading

Keep it simple.

“One of the greatest ways to avoid trouble is to keep it simple. When you make it vastly complicated—and only a few high priests in each department can pretend to understand it—what you’re going to find all too often is that those high priests don’t really understand it at all…. The system often goes out of control.”

got to respect lower highs and lower lows

US dollar has seen its longest winning streak in 17 years, ( and it's just beginning )

a bull flag

The information contained herein is for educational purposes only and is not, and should not be construed as an offer to hold, sell or an offer to buy any securities.

"In bull markets we can only be long or neutral, and in bear markets we can only be short or neutral. That may seem self-evident; it is not, and it is a lesson learned too late by far too many."

"When volatility does begin to expand from a low volatility situation, often the first move is a false one. Then, after the shake out, the market continues in the opposite direction."

Trading is tough, most people lose money who try it, and it takes time, patience, perseverance and a lot of self-control to get good at it.

hi there my Russian friend, Aristotle told us how

"Whatever we learn to do, we learn by actually doing it. People come to be builders, for instance, by building, and harp players by playing the harp. In the same way, by doing just acts we come to be just. By doing self-controlled acts, we come to be self-controlled, and by doing brave acts we become brave."

by managing trading business and trading we become traders ~

Slow down and win.

                              from the IPO watch list

What do you think?

"All matter originates and exists only by virtue of a force which brings the particle of an atom to vibration and holds this most minute solar system of the atom together. We must assume behind this force the existence of a conscious and intelligent mind. This mind is the matrix of all matter."
 Max Planck, Nobel Prize in Physics

sideways price action

from a friend

It doesn't seem like it would be true. It doesn't seem like slowing down would get more done. But it does.

Every day I do it, I get more done. Every day I experiment with slowing down I understand the tortoise and the hare.

If I'm doing the right thing, I can do it as slowly as I want and my life will get better. If I'm doing the wrong thing (caused by a stressed, rush-rush contaminated decision-making process) it doesn't matter how fast I go I'm going to be even more STRESSED when I'm finished because it wasn't the wisest thing for me to be giving my time to. And I know it, and it stresses me out to know it.

If I am on the wrong road it doesn't matter how good I get at speeding down the road. It's the wrong road.

I need to remind myself of this: Slow down and win. Take your sweet, gentle time and have this one conversation ahead of me be relaxed and warm so that the relationship I have becomes relaxed and warm. Slow down. Even slower than that.

There you go.

most bear channels are bull flags

follow through is the key now

good trade location helps us cut our losers quickly and stay in our winning positions to maximize gains

"positive trade expectation occurs when the perception of the probability of a price event diverges from the actual probability of such an event"

What is the real question ?

Quadruple Witching

quadruple-witching expiration, meaning equity options, stock index futures, stock index options, and single stock futures expire -- which could create some additional volatility in the markets

" There is no time for ease and comfort, it is time to dare and endure."

We have a pullback in the overall market, but there are not many good setups yet and we just need to wait a bit more. Keep open positions on the leash and if this is a new leg up we'll have lots of time to jump on board.

For IPO players:  In an uptrend at support, and possible an inside day today for TRUE.

Today is full moon and Friday the 13th, next time for the full moon and Friday the 13th will be on August 13th, 2049.
remembering my friend Bolto saying:  "It's a full moon, jebote!"

remember: parabolic moves offer the greatest reward, but for inexperienced the greatest disappointment

About "A" Good Trading System

A good trading system delivers greater profits than losses over a period of time, but even the most carefully designed system doesn’t guarantee success in every trade. No system can assure you of never having a losing trade or even a series of losing trades.

A system is a plan, but as Helmuth von Moltke, a 19th-century German field-marshal, put it: “No plan survives contact with the enemy.” The US boxer Mike Tyson, quoted by The Economist, put it more bluntly: “Everyone has a plan ’til they get punched in the mouth.” This is why risk control must be an essential part of every trading system.

The inability to manage loses is one of the worst pitfalls in trading. Beginners freeze like deer in the headlights while a deepening loss wipes out profits of many good trades. It’s a general human tendency to take profits quickly but wait for losing trades to come back to even. By the time the despairing loser gives up hope and closes his trade with a terrible loss, his account is badly and sometimes irreparably damaged.

To be a successful trader, you need to learn risk management rules and always apply them.

If trading is a high-wire act, then safety demands stringing a net underneath that wire. If we slip, the net will save us from smashing into the floor. The only thing better than a safety net is two safety nets: if one doesn’t catch us as we fall, the other will.

Markets can snuff out an account with a single horrible loss that effectively takes a person out of the game, like a shark bite. Markets can also kill with a series of bites, none of them lethal but combined they strip an account to the bone, like a pack of piranhas. 
The two pillars of money management are the 2% and 6% Rules. The 2% Rule will save your account from shark bites and the 6% Rule from piranhas. Prescribed by Dr. Elder.

don't put your hand to a plow and look at the things behind

You’ve got to be able to generate within yourself the mind set that you must always be going forward.

"Don't fight forces, use them."

                                      something new for a watch list

while you're trading, or waiting today, and asking yourselves... How does one make big money in this market ? have a glass of pineapple juice

For good nutrition pineapple juice is a good choice.

Pineapples juice are low in calories and high in nutritional value. A one cup serving contains only about 80 calories, but provides all of the vitamin C that a person needs every day, plus some. 

It is also a significant source of potassium, folate, calcium, magnesium, phosphorous, niacin and zinc. Last but not least, it contains a unique dietary enzyme called bromelain.

some of the possible scenarios for coming week

A. buyers come in, confidence increases, we have a summer rally ( summers used to be dull, not anymore ? )

OR

B. last week was a sucker's play and we go downhill in a "fast and furious" way

                               weekly, inside bar  (with a close set up for a follow through )

Fads come and go... technology marches on... but human nature, and the basic best practices of sound trading, forever remain.

"one good trend pays for them all"

                             
                                         https://www.youtube.com/watch?v=LiE1VgWdcQM

" bandwagon ” theory: Traders often hear about “tulip mania,” the “South Sea bubble” and other similar events where traders have followed the crowd to send p...