Wax Jobs and Market Action

[Arthur Deco]

I do most sincerely apologise for this extrusion of your ET privacy. But my gobblegation to the junger generbation is to share my wisdom with you, whether you like it or not. Or even benefit from it. Let me start with a joke, so you will get the joke of my message. The joke is older than me, so at least you jungun's will get that much.

Man goes into a "massage" parlor. The receptionist asks, "Would you like to try a wax job today? We have them on special." "Sure," the guy replies. "Why not? I've never had one! Always 'up' for something new!" The receptionist gets on the intercom, and a babe ever so slightly butchy comes out and takes him into a pubicle. "Lie down. Relax." She starts handjobbing him, quite expertly as I recall, and just as he comes she clamps the palm of her other hand over the head of his dick, blowing the wax out of his ears. "Now do you know why we call it a wax job?"

Well, the moral of the story is this. I run 21 systems in real time. On any given day about four of them give entry signals, and with any kind of shit random luck, one will work. On a day like yesterday, or today, the first ones in one direction fail. Then the subsequent ones in the other direction fail. The market just gave us all a wax job.

 

[Illini Trader]

AD, I know you are a more experienced and more profitable than I am, but someone told me this a couple of years ago and I have held it dear since then.

He said, "Remember, the market is going to do what it is going to do and it is your job to react to it. Don't ever blame the market for anything. It is just being the market and has no idea what YOU are trying to do nor does it care." Before I accepted this concept I used to get angry at it for reversing just as I got in then even angrier after it reversed again when I closed my position. I have (mentally) thrown a million coffee cups against the wall in anger and frustration. My anger at the market kept me from reacting appropriately.

Since I started looking at the market as my friend and adjusting to IT, I don't get angry any more; and surprise, my trading got a whole lot better. Yesterday and today, the 21st and 22nd, I found GS, AMZN, FCX, CRM and NFLX giving good trading opportunities, so it is hard for me to understand why you feel it "hosed us all".