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OK, we'll go back to the YM, where we just took our loss
because the market continued lower.
But like I said, it was a higher risk trade.
I did dial down the risk amount.
I would have been a lot more upset if I had actually thrown
$400 or $500 at this trade, just because it was riskier.
But for $200, well, it was worth a poke, because you
rarely see markets turn on what they would call an upside
down V.
That's what this is.
This is an upside down V. You rarely see markets peak and
turn that abruptly.
There should be some sort of reaction, a little bit of a
push higher, and then the market turn.
So I guess now the bigger question is, do I
want to try it again.
We have our warning dots.
Our buy would come in right about here.
That would be the pivot.
Oh man.
Still against the super trend.
All right, there's the hash mark.
I'll enter just above the hash mark.
This is, again, a much riskier trade than waiting for
everything to come in to sync.
But I'm looking for that second push higher.
I should be all in all out on this one.
They're either going to smack me twice or we may get enough
here to offset our loss.
Like I said, the only real reason I'm considering a buy
here against this red macro is because we usually see
something like this develop.
That's probably close enough for me to get to break even.
And now we have flipped on a super trend, so I can actually
turn my profit manager on.
But I might be a little bit more aggressive and
just trail it up.
So we would be in here out here.
If the hash mark prints, it's going to print just one tick
above my LogiCounter.
The LogiCounter tells me the bar would finish 128.53, so
we're in 128.54.
And what I'm doing is I'm anticipating that we're going
to break this high.
I'm anticipating that somebody is going to stick their toe in
the water and try to take out of some of those
sellers' exit orders.
And if that's the case, we should actually see some
pretty good follow through.
OK, come on.
Somebody tick up there.
They're right at it.
There's the first one.
OK, let's get some follow through now fellows.
Get up there.
Come on now.
Usually when we start engaging some of these stops, we do get
a flurry of buying.
And very often, a little bit of acceleration.
OK, where's that acceleration?
Get up there.
All right, let's get that to break even.
See, now we're doing the same thing here off of this high.
They're fighting it.
They're trying to sell it down.
That's just how it goes.
Let's roll our stops in a little bit.
Michael Marcus started with $30,000, borrowed another
$20,000 from this mother, and then proceeded to lose 84% of
their combined capital before becoming a successful trader.
Not a real big trade.
All right, here we go.
We're tagging that support now.
We're buying.
Let's take out those orders.
Come on.
Are we about halfway into our big rally?
This leg of it anyway.
All those Fibonacci traders are running their Fib
calculators trying to figure out where the 50%
retracement's at.
Come on, keep going, baby.
If it flashes 200, I'm going to punch out.
Still got a ways to go, of course.
165, 170.
Come on boys.
I guess I didn't need to scale down on that.
All right, well, that's respectable.
On a little 2 lot, or 1% of our account.
All right, well done.