funny thing about mov averages, trend lines, gann, hull, gaussian, etc. none of that shit works nor matters. every pro knows this. it kills our time and lets us think or somehow come up with new ideas. I lost friggin millions of dollars trying to follow that stupid ass DeMark system. Why? because it had worked once for me (made over $1M in a selloff) what works is...
Ahhh, the old fib retrace. A lot of Tom DeMark's work is based around this. You can always get a good idea of what could happen and it helps to keep things in perspective.
notice though, the upper blue field is pointing to a possible way higher. like I said, it is only a guide to form your conviction.
it has been very easy to trade a certain range. kinda refreshing and fun. coming from months of trading equity futures, currency and soybeans. I could get used to this. reminds me of the reason why I wanted to be in the business in the first place.
I am always amazed when banks like Julius Bär send out research reports to clients stating: we are in a year end rally! OK, where is it? How can you possibly justify writing such crap? Again, speculation of a Biden influx of money and business activity.
the weekly makes it a little more clear. given the nature of the copper contract and it's large size and non option-ability, a small short position building would make sense. If it rips through the double top, cut your loss and get out.
algo going against a trend reversal. kinda common these days, always gives me a headache! the world doesn't need more copper at the moment. financial markets are waiting for another handout, as always.
bought Bitcoin at $10.000 thinking it was way overvalued and now look at it. I closed out some time ago with a much smaller profit than I had gotten, had I wanted until now. goes to show you the trend is your friend - until it ends. Normal financial markets have been held hostage by monetary policy and now politics. I believe I am switching to Crypto trading...
I have been trading in this since yesterday with great success. there is no denying the power in crypto anymore. especially giving the existence of no commission brokers. quiet amazing to think what a professional has to pay in fees for brokers, trading software, charting software and quotes. I have become a fan of the financial liberation that is taking place....
Look at this little chart. screams short in my opinion. so lets try building a small (short) position over the next few weeks and see if it holds. remember, as soon as your position turns green, take risk off and play with the banks money. it doesn't take huge contract size to make money, all you have to be is "right" in your directional call. this type of trend...
first of all I just noticed the data spike towards 3700. that's incorrect data. but I am willing to test the idea of shorting the minis here. Fridays are usually strong buying days - so, lets see if can make money holding it over the weekend.
