Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
" Bank of America Merrill Lynch strategist Michael Hartnett think that market psychology has shifted "from fear to greed, from the wall of worry to the beginning of hubris."
And as the market begins to get more confidence, to display more hubris, the "tell" that we might be at a top will be found in the price of gold.
"[T]he big hubristic 'tell' will be gold," Hartnett wrote in a note to clients on Friday. "A sudden gap lower in the gold price to below $1,000/oz should coincide with the final thrust higher in stocks, both indicating capitulation of the 'stubborn bears,' the end of the 'melt-up' and the next opportunity to get tactically bearish. We increasingly fear next year's high in stocks come early."
NOTE: 1) By market Michael must mean S&P 500 because TF is ONLY up 0.8% YTD.
2) Gold is around $1200. Higher it goes as Inflation stays low- bigger the short.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
ONLY thing i am somewhat concerned about shorts in Gold is that i have not been able to find too many cases for Gold bulls. When everything seems perfect it can surprise the other way. Once upcoming swiss refrendaum on her gold reseves policy is out of the way by end of November- it will be easier to press shorts in gold.
Wish for next week: My weekend wish for Gold is to bounce 20-30 points before NY open on Monday without any catalyst/news, just slow back and forth easy move up. In fact i have the same wish for every other instruement under macro bearish trend because it's tough to short a DULL market. I will be happy with 2-3 of these during next 4 trading days we have with Thursday being a holiday. There are hardly any easy lay up trades so will have to work at it.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Not a very encouraging message for day traders like myself. " Markets are not predicitable enough and you are not smart enough. Get out. Get out while you can". I am glad to see that 90% of all trading is technical.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Scaling off once an instruement has moved 50% or more of daily ATR. Small position size till NY session open.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Pick macro trend from weekly/daily chart. Intraday multiple time frame for execution.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
When Multiple time frame don't line up- scalp is the best hope.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Bayes Theorem- applies to everything in life. There are lot of videos on you tube about it. I like following the most. It fits my coommon sense sensibilities.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
CC found buyers at weekly balance area. Long 2807 and out 2835 .Flat. Will wait for price to come up more to short with high of weekly range as stop loss.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.