MURICO.com Forum

Re: My fishing lines are set----

now I sit back and wait for one side or the other to snag something with June hogs. A pair of north end buy stops @ 77.37 and a pair of south end sell stops @ 75.95. First mechanical, manage my risk, deposit points for 1 @ 30 cents above or below whichever momentum direction is triggered. Will try to ride the 2nd position to the 2nd marked target for another 30-40 cent extension. My 2nd upside target is 77.95-78.05 and if my south end lines get the call, my 2nd downside target is 75.25-75.35.

Today may not be the day for anything except a sideways buildup to grow the fish bigger for tomorrows action. I don't have a crystal ball and I'm not a lucky guesser but I do get lucky fishing for momentum. The Prime Directive serves me well to keep focused on my Rules of Engagement which defines my mindset that a deposit of any size is better than a loss that can easily turn into a painful event. I always have and always will struggle with letting rule bending turn into rule breaking from time to time, which does at times send me to the woodshed to pay my dues with a painful whooping. It goes with the territory of being a risk taker. I think it would be very difficult to get much trading done if I wasn't a risk taker that struggled with keeping the rule bending on a tight leash.

I started this post an hour ago but the dang phone keeps interrupting the process. The market seems to be stuck in a sideways pattern, so we may get some potential growth to the size of fish we get to catch tomorrow. It's a lot more fun and profitable to catch a runner than a sucker.

Messages In This Thread

The final Purchase Index for - - -
Re: My fishing lines are set----
Not much momentum today, ITZ. But - - -
Re: Sideways doesn't hurt my feelings
From the noon reports, ITZ, my - - -
Re: DH, I'm starting to worry------
I took my scalping profits on the short - - -
Re: I took my scalping profits on the short - -
Yes, Ed, the eight buck K/M spread was - - -
Re: Yes, Ed, the eight buck K/M spread was - - -
It appears, Ed, that the CME Index is - - -
Re: It appears, Ed, that the CME Index is - - -
HHHMMMmmm!! I had thought, Ed, that the - - -