My largest position, by far, is my EFA put position that I’ve been building for weeks. We have had our faith tested on this one, but the pattern has continued to unfold beautifully, following the update I did two weeks ago.(more…)
You’d think I’d be tired of charting by Friday night, but nope, chart fatigue never really sets in. I was looking at crypto charts, even though I haven’t touched crypto in three months, and I saw something very excited that I wanted to share.
My first point is that I believe the entire space has shifted from a broad bull market to – – starting in early November 2021 – – a broad bear market. This is exemplified by one of y favorite crypto charts, Solana. Look below at what a smooth, consistent, and reliable bull market was in place before, with a steady series of ascending scallops.(more…)
In trading, few things hurt worse than money left on the table. (In the unlikely event any of you are unacquainted with this term, it refers to profits forsaken because you were too impatient, scared, or what-have-you and missed out on extra money).
It’s virtually a truism in trading that you’ll score 8% on a given trade and it goes on to throw off 90% in gains. It happens all the time, but it happens CONSTANTLY in highly opportunistic and volatile markets like this one.
I am no stranger to this situation, particularly since my own emotional and psychological makeup doesn’t lend itself to – – how shall we put this? – – stalwart, steadfast, fearless determination. I prefer to slip on a pink taffeta dress, maybe some matching pantyhose, and scurry around closing anything that has a profit.
I’m exaggerating a bit (except for the clothes part), but just in recent weeks, the spreadsheet below shows the positions I have CLOSED, with the “entry price” reflecting whatever price I got when I closed them. Shield your eyes, Frank.(more…)