Quote from Blotto:
Thanks for your good wishes. No, still not feeling well. Actually, the times I post at ET correlate quite well with the times I'm in no condition to do much else. So I can see how I'm not exactly seen at my best. And perhaps not all will agree with the way I communicate, and to some I might come over as annoying or a bit of a know it all.
Still, sometimes I think I can share a bit of what I've learned about trading, some questioning and ways of approaching the market which have worked for me. Probably won't work for everyone, and some may not see value in what I post. I know from some messages I've received that some have found a few gems in the seemingly endless screeds I post.
I'm not posting to put anyone down, and I don't detract from anyone's level of success. We can all set our own goals, and I've respect for anyone who is net profitable working in this very difficult business.
I've been around enough to know what doesn't work (consistently and reliably), and standard technical analysis as taught in books and internet forums isn't something that is going to lead anyone to consistent success. I note your new chart, which shows the short which worked, but funnily enough doesn't show the previous short which was either stopped out or took nearly a full cent of heat. Nor dos it show, and I'll draw it on, all the losses that a trader who sold double top or resistance patterns in this so called downtrend since the low at 1.33 would have suffered. Enough that being bailed out by a big move, if the trader had the conviction to keep trading the method after a series of losses, would be a welcome relief.
For me, I've always focused on trying to get my entries consistently right, and limiting and losses when wrong. This allows the use of leverage and compounding which is a good way to make the most of this business. But I'm also a premature ejaculator, and frequently moves continue well after I've taken a profit, or I don't get to participate in them at all. Maybe I'd be a lot richer if I were better at riding out these 200 pip moves that some here seem to be so good at calling....only time will tell whether missing some of the home runs in favour of being a singles and doubles player is wise or foolish. There's the old Rothschild saw about always selling too soon....
Continuing to call shorts in this market suggests that you still have a fair bit of learning to do, but just my opinion. I'll let the market have the final say, perhaps someone can post a chart in a weeks time, see where we are, and again in a month.
This is your thread, I'll let you get on with showing/teaching, and you did correctly call the downside break (albeit after an upside break which took the bulk of short positioning out the market). You got back in, good for you. Hope your method brings you all the prosperity you wish for.
Good trading all!
Is your ego really that tied up in the fact that this market is a long that you want to revisit this all in a month?
Trading must be so tiring for you.
