Extraordinary Popular Delusions & the Madness of ET

Yeah. Saying "I have seen Jack at home in his undershirt" just doesn't do it for me.

So give me a critique.

I say: "NQ closed above the open and over 5 points above the VWAP, which was below the open. Sounds like somebody wanted to sell to us to set up Monday as a profitable down day."

You say: ".....
 
Quote from Arthur Deco:

Opie, I'm glad it means something to you. All I see is yet another oscillator that turns when it is already obvious to the eye that price has turned. Pure price tells you everything. I see a bear flag. A Jacker sees an FTT. Someone else might see a weaker upthrust. Yet another a lesser high than the higher low. Simple trend following rules confirm chop. But following that double top at a strong round number? Nothing but trouble! Art.
More...

I meant, that the chart was actually 'discernable', 'entendible', 'mann konnte die verdammten Diagramm verstehen'...type of thing...

:)
 
I occurs to me that I have not introduced myself properly to the current generation of ET. Jack does that somewhat grandiloquently each time he seeks to enlist a new cycle of aspirunts. So I will list my own qualifications, as they roughly parallel his:

university faculty member (a drafting grader)

Johnson administration civilian executive (GS-7)

published author (one copy sold last year)

presidential advisor (once sent an email to George Bush)

lecturer to psychiatric professionals (before the meds kicked in).

Now that you know me (four of the above five are absolutely true), I will follow up shortly with some trading advice soundly grounded in the CO.
 
*Looks on with glassy eyed wonder*

That sounds like just the holy grail I've been searching for

I'll keep the journal and get the coffees
 
If I can save but one trading soul I shall not die in vain.

OK, here's the scoop. Before I started reading Jack a few years ago, I never set a target for my daily profits. Some may argue that I HAD no daily profits, but that is beside the point. I mean, to me, profit is like sex. When you get enough, you quit, right? But then Jack comes and humiliates me with his 3X daily range goal. Truth to tell, I am thrilled shitless when I net HALF the daily range, which is about par for me.

Why am I thrilled at that pathetic goal? Because I want to minimize uncertainty and risk in my trading. Why? Because I feel much better when I am laughing my ass off while in a trade, and I literally laugh my way through trades now. Retraces? Hilarious! Bear and bull flags? Can't fool me! Chop? I'm not even watching! I like no-brainers because I am a below average ET trader. So I trade a simple-minded "I'll take my half out of the middle" system and four high probability setups.

SCT traders are welcome to their monetary glory (real or anticipated). I DARE TO BE AVERAGE. And I firmly believe that because I am totally relaxed with my low aspirations I see and understand more of what is going on so that I can devise new systems and setups as the market evolves.
 
Pemit me to share the results of a recent word association test on a client:

market - woman

system - fetish

profit - orgasm

consistency - addiction.

One sick puppy!
 
N.Q. called me today to inquire if I made money with the long bias his Confabulator indicated. Reluctantly, I admitted that I had. He said, "Then when I come in for therapy next time, YOU pay ME!"
 

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