September 7 2010 Trade Review and Blog Update

The reconciliation with the ES continues. I had a clear fade of the move up just after the open on the ES.

Why did I take the trade? I faded the move up because I felt most traders were buying and concluded that this would lead to many retail sell stops below the congestion at 1095.00. I felt these stops would provide liquidity and pull the price in towards themselves.

There is not much more too it than that. I have refined my trading to a game of trying to trap others regardless of structure or pattern. I am still aware of the structure but am often on the opposite end of how I used to play it.

I have continued to take it slow on the TF as action has been nasty. There is no other way to describe it. There are plenty of opportunities but I have specific parameters I have developed and have not seen much on the TF. I sitll engage because I tend to like to get into fights where I am at a disadvantage.

I am doing the right thing. Even with caution, I got myself into the retail end of 2 short trades this afternoon. However, after entering and realizing my position, I was able to anticipate myself getting squeezed and refused to get pushed out. I had conviction due to my understanding of the game.

There were many different ways to lose today and only a couple ways to win and I found one of them. It mostly came down to conviction. I have reached a level of focus in which I expect to win everyday.

I used to think this was not possible but it is.

Blog Update

I have had so much to write about recently that I can not even begin to effectively get my thoughts and observations out in the manner that I would like to.

There is an evolution going in here. This is my 622nd post. The transformation that I wanted to the public to see is finally occurring. That is the transfromation of a trader who was winning some and losing some to a trader who is winning on demand.

I have a vast amount of data and helpful observations that I want to organize and get out there but can not find the time to properly execute a project like that. It has become a source of major frustration recently which is getting compounded by all the garbage flowing into my inbox everyday.

I was bombarded by emails today from all sorts of scam artist educators and would be gurus. One of them claiming to be the "messiah of trading" and several others making claims like their calls are 89.3% correct. (calls are meaningless you stooges. The exit is what counts.)

I do not know what is worse. Is it the fact that these parasites are making money doing this or that would be traders are stupid enough to keep paying them?

I understand if you get burned once by garbage like this (I was) but it takes repeated attempts to buy the "holy grail" to support all these turds. I do not understand it.

I have to go on record and tell everybody....clearly....that if somebody has something that works why the hell are they going to sell it to you for $3000.00?

If a system, indicator, or strategy worked period, why would it be for sale? It is all absolutely 100% garbage. Every last bit of it. I doubt if there is one single educator out there who advertises frequently that can make a trade to save their life.

Where do these people come from? I suppose many are failed traders who think they will "catch on" and are just trying to make a living but there are other larger operations that are clearly outright scams.

If an indicator actually worked, the market would perpetually travel in one direction. Think about it. If there was ANY single, static, and repeatable edge; the market auction would instantaneously close it. If it did not, there would be no market made because there would eventually be only bids and only offers.

The best use of these so called tools is mostly by the few that make money at this to trap retailers who have no idea what they are doing.

Most traders do not stand a chance regardless off how hard they work until they acknowledge and clearly understand this.

This game is a giant game of poker. With hands that evolve RANDOMLY as the action unfolds. There is no way to crack it with a static strategy. There is no right price or direction to enter.

If your entry has an edge at inception, there are an infinite number of outcomes that dynamically change that edge as the hand progresses.

Do amateur traders think some dumbass with a MACD and a candlestick pattern is going to teach them to outwit the fastest computers on the planet that are run by the best and the brightest mathematical quants?

It is a turkey shoot in favor of those who control the price. The one advantage we retailers have is size and dexterity. The players often can not get out of their own we an we can exploit that with POKER SKILLS and nothing else.

The art of accessing what your opponent is holding and acting according is how to win. This can not be taught in a course that last months let alone a week long seminar.

I think if a trader wants to get profitable they need to spend 6000+ hours of agony and defeat onscreen as I have. The learning curve can be cut dramatically with nothing short of daily coaching live in the market for months.

Who is going to do that? It is a horrible business plan and leads to no profit for the coach. This concept automatically makes virtually all educational efforts a waste of time and money. There are a couple good ones out there but they still leave a lot left up to the trader to figure out.

Having said all that, part of the reason I started this blog was to have something different out there. Something that I never had. I still can not find anything like this anywhere.

The problem is that recently I am realizing that my effort is not really penetrating. How can I compete will all the douches out there who are willing live with the fact that they help nobody and make their living by being full of crap.

This blog has helped me immensely and touched hundreds of others on a daily basis but I want it to be more. I am not sure I have the time, resources, or desire to make it more.

I do not want to compete if I can not develop what I envision and I certainly do not want to go through the motions just to continue being known throughout the business. I am more of a recluse than you can imagine in my personal life.

You can not do what I have done and have a life. Many get into trading because they want more free time but those who stick with it learn it consumes everything. It is worth it to me.

Part of me wants to expand this site and make it great. Even go as far as to start a real daily trading room where I trade live in front of everybody. Pants completely down like a reality TV show and made virtually cost free for most.

The other part of me is considering going into seclusion and just refining the technique I have developed over the past few months.

It is a tough call as I say often to others on Skype.

Some of my biggest breakthroughs in the past few months have come via comments I have made privately to other traders I speak with throughout the day.

It is an extremely powerful concept and I am not sure what to do about it. I definitely feel a calling to make a significant move soon but am not quite sure what that move will be.

It is a giant poker game in the end.