You know what I think You know that I think the market is on thin ice.
You also know that I was NOT of the opinion that post debt deal we dropped. - I posted as much weeks ago.
This market is going higher and on the QQQ its going to 371.24 at least. Same price I have been calling out.
Only once we get there and TEST will I have an idea if its time to short or not. And even then, I will have to wait for a confirmed reversal on the daily.
This is how most lose money - they jump in short now bc they feel the market is too high. Ok, I agree but its not the right time yet! Jumping in short here is in no mans land - why take the risk??
Look, I see this all the time: people getting the thesis right but the timing wrong. And it costs them money and then they switch to HOPE mode.
Before I get into a trade, I have a checklist:
Has the chart given me a confirmed direction?
Do I have a defined stop based on previous support and resistance?
Do I have a target price?
Remember my FIRST RULE: DO NOT LOSE MONEY. If the idea I have does not make it past those three questions, then I will stick to my first rule.
Let's look at QQQ.
Does it pass #1? Nope. I am not looking at it further until it does. See, easy!!
I literally do this for every single idea I have with no exceptions.
Everything I do is based on math and probability - its the only way to remove personal bias.
If you want to stop losing money you must remove bias. Period. I cannot stress this enough.
I had a private question about my Free Member post.
I have members who want more lessons, more personalized attention. Those are the ones that buy the VIP packages.
Look, I only have so many hours in a day. At some point I will have less time to spend doing FREE sessions every other day.
But just because you remain a free member doesn't mean you will get anything less than what I am already providing. That's a bait and switch and I hate that type of crap. The ONLY thing that is changing is that the trade ideas I have will be on a delay and the blog posts also. That's it.
Some of my trade ideas are good for days. Some are good for minutes.
It's entirely up to you how you want to be part of the community. If you like the trade ideas and don't want to wait or don't want one on one time with me, then there's the Trader package. Seriously, at $109 I make that in a single trade.
Anyway, I just wanted to clarify for you all - my mission remains the same:
Help people learn and make money. For free.
This is not investment advice. Nothing in this document should be construed as investment advice. The opinions offered are the Author's only. This document is for entertainment purposes only. Always consult with your advisors before investing any money. Readers of this document agree that they will not use this information to make investment decisions.