That’s How We Roll

By -

While you leeches have been picking your noses or worse the Mole has been banking coin like a Goldman. Seriously – this shouldn’t be so easy! I sincerely hope some of the subs have been paying attention. Let’s catch up with some of our recent victims:

This morning’s short on the spoos below the daily NLBL didn’t last long – fortunately in my foresight (and lack of allegiance) I had my flippidy-flop already set and have been long since 1840.75. We are marking 1R at 1851.5 BUT I won’t be playing this one Crazy Ivan style – we’ve just busted through a weekly NLBL and I intend to leave my ISL intact for now. The idea here is to play for an outlier (i.e. short squeeze) and thus employ a Heisenberg style campaign management. That leaves us taking 25% profits at 1.2R – which we barely missed today. THEN and only then can we move our stop to break/even (i.e. one tick below my entry = 1840.5).

Next – gold – oh boy – that hammer already banked us nearly an R in less than a session. I’m going to hold this one until that monthly NLBL at 1361.8. If you feel like it then you can start taking partial profits – perhaps take 50% off and move your stop to b/e.

But we are not done just yet – wait for it – sugar! Remember we banked 1R last Friday and it had the courtesy to not stop us out at the 1R point. Now I’m going to switch this bugger over to Heisenberg style campaign management. After pushing near 5R today we are now have a trailing stop at ~1R MFE. That means from now on your stop will always be 0.25 handles (i.e. 25 ticks) below the very high. Right now that is 17.42 and I may as well be stopped out by the time you read this. But if it keeps running – who knows where it can go!

That’s right – that’s how we roll here at Evil Speculator. You can keep wasting time trying to predict where the SPX will be by next April or you can do what we do – simply find look for high probability setups and develop campaign management rules that maximize your opportunities. Most retail traders analyze the market in order to predict prices – which is a complete and utter waste of time.

This remains to be the one salient fact retail is unable to wrap its mind around: Predicting prices has little to do with successful trading. What is important is determining when the risk is overwhelmingly in your favor and then controlling that risk via carefully developed campaign management rules. And that is exactly what we are doing – and apparently it is working.

Now here are two more goodies for my intrepid subs…