Finally have a decent internet connection in a far away land, and making hay while the sun shines (literally). In the down time getting caught up with some indicator updates with new functionality and some additional precision. I'm continuing to peck away at some really good questions and doing the best I can so be patient. Should have contacted everyone who is a EminiEdger (affectionately) to pick up the latest version of the EEdge Indicators so if you didn't get notified let me know and I'll follow up. I already saw something I'm going to upgrade... never ending updates apparently! :)
The market finally blasted up to new highs last week and got all confused, evidenced by the low range days and volume that rivals a holiday trade. Was looking for a gap-n-go trade today and that's exactly what we got, hope you all got a piece of it. As I've said in the past, when you get the trend moving overnight just "get on it and sit on it" hopefully after the first clear LRE. The real time trade attached here is not the trend trade of earlier but a later day counter trend trade long if you can believe it. Thought I'd show what is possible if you're looking at the market no matter what stage it is in. I don't like later day trades normally and like counter trend trades even less but with the time zone change and the "trading what I see, not what I think" mantra only makes sense to just do it! The EEdge Trend showed up the dandy counter direction setup (along with the EEdge Heatmap and EEdge Volume) for another quick 5 points/cnct. The larger picture 4K chart was still showing a big downtrend move though you could argue it made a bottom somewhere earlier in the morning. The LREs already started flipping which is the first sign in a change of direction so it was worth a shot.
Anyway hope it is useful to you. As always, appreciate the share as your vote of confidence.
Hope all the EminiEdgers out there are off to a bang up 2017. Had a question regarding different days looking the same but acting differently I try to explain in this video. It's all about the details. The EEdge Indicators do a pretty decent job of identifying what's going on though you can't be bullheaded, trade what you see not what you think. It's easy to lose your head and "wish" which way the market should go but be nimble and act on what you see. Humans are good at filling in the blanks sometimes. Too good...
Nook Neck Traders,
Quick update this morning as I just want to get my thoughts out for the trades I put on. Note that there may be more but when you get your four points per contract in the first half-hour or so, unless it is a fantastic setup, might be better to call it a day and go surfing early.
The trades here show jumping in and out of an already exhausting trend and as such short leash (quick profits) are recommended. The important thing to note is why you are jumping in and out, if it's just price, not good enough. If the reason is that there is an exit signal or worse yet a reversal signal against your position just dump it, it's all about preservation at that moment. Stay limber and make sure you are not blinded by your position, be open to the possibility that things have changed and your move is done, at least for the moment. For those old schoolers that purchased the EminiEdge Trading Manual E-Book" and not looking at the EEdge Indicators, there was also a picture perfect EE showing up on the second exit (about 9:15 AM Chicago) that is shown off the screen capture that screamed "Get Out"...
As always, hope this is useful tou you. If so, I'd appreciate a share somewhere, have these dandy little buttons down the side of the sreen for your convenience (or bottom on mobile). Don't be shy, I appreciate you taking the time!
Trade What You See, Not What You Think!
First, Happy New Year to all the EminiEdgers out there. Truly appreciate your support throughout the years and I wish you Good Trades in 2017! Just have a gut feeling this will be the best year ever. This is a quick video just going through what I think is a "Picture Perfect" setup and wanted to make sure I threw it out there for your review... This specific type of setup is common but in many different forms where we have everything coming together. It is key to wait for the setups. I'll say that again, it is KEY to WAIT for the setups. I'm guilty of this at times as well, unconsciously getting bored and forcing the setups, "stretching" what is there because it has been "too long" waiting for the trade. That'll kill you. If you learn one thing this year it should be how to be patient and wait for the trade to set up. Really... Not sure if this is my Trading Rule #2 or Trading Rule #3, maybe both.
Hope this is useful to you and if so please use the new share buttons on the side of the website and share with others, I really would appreciate it. No, Really! And in case you're wondering, yes, new Gold Samsung Galaxy S7 Edge for the new year. Yup, kick ass. Sorry Apple, done me wrong for the last time.
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