Wednesday, November 9, 2011

Smartest Guy in the Room

In one trading account, using high leverage on Forex, Futures, and Puts, up over 52% of account value, today.    That is huge, best percentage day ever.   Based on the Blimp of Doom, and Bernoulli Channels, with an icing of Comets, Cometo, and Sunspots.   Laugh as you may.

In reality most of my accounts are still sitting in Cash in USD, which was a nice move all by itself.

That is when you start feeling like the smartest guy in the room.   That is when to reign yourself in.

Don't start increasing bet sizes, because the snap back rally, when it happens, it will, maybe after hours, maybe tomorrow, maybe next week, will be quick and violent.

But methinks more weakness for now.   Today was a great example of how NOT to get cute and try to pick a bottom, you know the smart guy move...hey I bet it turns right here....

Well not when you see continuous downward movement on this indicator, never stand in front of that train.

I use 6 indicators to take and Xray of the market, takes 5 seconds for that Xray.  This is one of them.