The ACD Method

Quote from Maverick74:

Grains up over 2%. Wheat successfully bounces off the monthly A down. Still not much strength in Gold. That would be concerning if I was long gold. Should be trading better with grains getting this pop.
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looking for 1625 daily close on gold, bearish till then. :)
 
Quote from mfbreakout:

Short 101.24 Stop loss 101.41. cover 100.54. Now long 100.43. stop loss 100.38. Below 100.40, 100 is target and so on.

Nothing SECRETIVE here, just COMMON SENSE. Mark Fisher book title " The logical Trader" is for a reason. It either works or does not.
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Buyers showed up to defend $100 level. Long 100.22 out.100.70

When we have A down /A up and i take a counter trend , i get out with 30-50 ticks into intr day resistance. CL can come down and break 100 level like it was never there. Thus on bounces , i want to be ready for shorts.
 
Here is a little story not acd related, a long time ago when contracts were mostly pit traded, there was a guy who was a scalper. When a hundred lot order came into the pit he would maybe take a 2 lot or on a big trade 10. He would get out right away. He took an awful lot of shit from the bigger market makers due to the way he traded. He was extremely consistent. At the time I couldn't personally rub two pennies together. I asked him how much he made a week and he said between 1,200 to 2,000 dollars. I had the good fortune to meet him, his wife and kids as he was a neighbor of someone I hung out with. I found out later that his wife was worth $50,000,000. I found it quite ironic, the best part about it was that these people were so down to earth you would never know that they were loaded. I am a big fan of irony. :p
 
Looks like I sold my NFLX a little prematurely. Sold it on the pop on the open and hoping to get it back cheaper. Not going to happen. Does this market ever go down? LOL.
 
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