After the long run up from the recent bottom the risk/reward has shifted against the bulls. The downside risk of a pull back is greater than the potential upside for bulls to gain more profits at these lofty levels. In the short term time frame $SPY has begun a trading range with basically a $199 […]
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$SPX 2000. That's bearish, obviously, just like all the previous new highs were. — Jon Boorman, CMT (@JBoorman) August 25, 2014 Show me a system that is historically 95% accurate and I’ll prep for a huge drawdown. — David Stendahl™ (@David_Stendahl) August 28, 2014 "Need small-caps to find a bottom" Check "Need financials to lead" Done "But high-yield" Fine "Need participation
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My entries for my last $SPY trade was at the end of day on the reversal up day off the 30 RSI near the $193.30ish level then the next day I added at the end of the day on the gap up near the $194 level. I took a half of my full account position
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Always have a reason to get into a trade, and then a reason to get out of one. Having a trading plan gives you an edge over the traders that use emotions, predictions, and opinions to make trading decisions. Your original stop loss is hit at a price level that shows your original entry was
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The trader’s biggest enemy is their own EGO. Ego: a person’s sense of self-esteem or self-importance. 1. The new traders with big egos always have but confidence in their trading ability before developing competence in trading. New traders that trade before educating themselves are ignorant of their own ignorance. 2. Ego driven traders think they
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Stop trying to predict the future, it does not exist. Play the current probabilities not a prophecy. Quit holding on to losing trades when you are proven wrong. If you want to be profitable in trading you better have small losses. Trying to pick tops and bottoms is a low probability trade. Trading with a
The fact that the endless stream of scary news about ISIS, Ukraine, Gaza could not phase this market remains bullish. The market was able to go through the FED minutes and Jackson hole without the volatility most expected. It is the same old thing, the FED has the Bull’s back. Currently at this point in
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$AAPL nice @kdmoo pic.twitter.com/G1nVIIduY3 — DK1 (@canuck2usa) August 19, 2014 Cant we just shake on 2000 and get it over? — Alan Farley (@msttrader) August 21, 2014 I think the Cubs will win a World Series before the Fed raises rates 🙂 — Joseph Fahmy (@jfahmy) August 20, 2014 A strong gap-and-go market is seen
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