lol. yes I will!!! good on ya

@snp Then if you like long videos, you’re going to love the Long Trade Ideas Update video that I just posted. ;-)

I don’t think long is negative. actually I play most of your video 3 times or so to catch everything

I think that is probably a coincidence that you heard it in a casino tbh, I cannot see any relevance. What I am saying is that one should trade a size which is not going to hurt you. Of course if your idea of risk management is still having a roof over your head if some trades go bad, then we are on totally different planets in terms of why and how we do this haha. I made almost 160% in the last 12 months, and no trades could have lost me more than 8% of my pot. I normally aim for under 4%, but have been fairly aggressive at times. The money management I am talking about is protecting your capital by trading within your limits. Losing 60% on one trade is totally unacceptable to me, I do this for a living – 60% is what sounds like a casino night to me…..seeing as you mentioned it:)

Anyway, not criticising – everyone has their own risk appetite – I wish you good luck in your endeavours.

J

I would definitely look at your position sizes if you lost 60% in DUST and put the rest of your money back in it last week. The number one rule of trading is not technicals, fundamentals and so on – it is “money management”. That always comes first regardless of the processes you use to make trading decisions. This is not a criticism, just a reminder that this should unequivocally and always absolutely come first….

Good luck!

J

“high & tight flag/pennant” that appears to be forming in GDX. My answer was no (along with a brief explanation which can be viewed under that previous post) and this video covers in more detail as to why I still believe the R/R for going long the miners at this time is unfavorable.

I remember this vividly because I added more dust after that video…Since then I dont follow so blindly into trade ideas. But on the brighter side I do have more trading techniques now thanx to the rally that followed after. Which brings to me to this latest video, and why i’ve commented. The same pattern has emerged and the same agrument has been made, so this time I’ll follow my prior experience and buy (if i had money). The saying goes, if it walks like a duck….etc
If RR is questionable just go ahead and buy a stock with a lower beta instead of something like dust and keep a tight stop.

This is for another time but I also dont agree with the analogy market up/gold down (vice versa) or Gold up/miners up (vice versa) analogy, just a quick chart or SP500&gold here:
http://seekingalpha.com/article/270029-relationship-between-stock-price-direction-and-gold-silver-and-copper

u can see that sp500 and gold both rose during 2003 until 2009. and again from jul 2011-2013 (dont have charts). With this is mind the recent inverse relationship might change espeically with the announced interest rate hike.

as for the other contradictory comment I just noticed many times gold down miners up situations to recall. I wish i was sophisticated enough to the charts but then again I could be wrong if I did… anyways its just my 2 cents!

Thanks for sharing your thoughts. I think many are calling it a “bear market rally”, simply because currently it is. That is to say that no new ATH high has been made from where the downtrend began. No one is saying it is impossible for the market to make new ATH, and of course at some point it definitely will – the point is that if you had cash now that you wanted to put in a short term trade would you go long or short? Currently this is a bear market rally, because it is rallying within a downtrend. If it breaks out of the downtrend decisively and on volume then the game changes. That is why Randy has given some indications in terms of his “lines in the sand” – limits to where he still feels that the RR ratio is still short. We will of course see what happens and look forward to hearing where you are putting your money….:)

J

@snp Comprehensive- Translation: Long… lol. Still working to get all videos down to 15-20 minutes in duration but it can hard enough to predict where the market going that simply talking about just a couple of time frames or indicators only tells a small part of a much bigger picture.

To all, thx for the feedback. BTW, that bearish rising wedge on crude futures that was posted in the trading room last week has broken down impulsively today. Will post the chart in a minute.