The WTF Journal, my journal

July 11th, 2008

It's all about the price action around support and resistance.

Calling the day early as I welcome the weekend to refill my energy.

WTF
 

Attachments

Quote from Chuck Krug:

how do you calculate your support and resistance areas?
More...

I don't, I let the market tell me.

Don't use pivots.

Don't use market internals.

Don't use Fibonacci.

Don't use percentile retracements.

Don't use any formulas.

Every day is different, and everyday will probably consitute a new set of support and resistance points created by the market and not some miracle formula.

WTF
 
I don't use stops, when I'm wrong I get out, if possible, I try to reduce the loss but when I'm wrong I don't try to make it right.

WTF
 
Back next week, assuming the board has been respecting the free illustrations I'm providing.

One person piss me off, and I'm out of here.

WTF
 
You are displaying the qualities of a professional trader in the little time you have dedicated in this journal.

Thank you for your time.

Daniel
 
Quote from WTF Trader:

Back next week, assuming the board has been respecting the free illustrations I'm providing.

One person piss me off, and I'm out of here.

WTF
More...

Goodness knows we would miss those after the close, rear-view mirror charts if you were to leave. Oh, wait a minute, you expressly stated in your first post, your purpose here is not to teach. Never mind, feel free to leave.
 
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