Thursday, 28 July 2011

Thursday Trading

It was classic stuff this morning (London time) and perhaps it will repeat itself in RTH. The DAX first continued the trend down yesterday as it should. There was then some short covering as can be expected, and when that was finished, it was back down. The MarketDelta charts below tell the story.

Now we are waiting for the U.S. to wake up and see if anyone thinks these prices are bargains. I don't think so, but I trade what I see not what I think or hope. Trading a structured methodology where I do the same thing over and over again means I don't re-invent the wheel on a daily basis. I've learned to drive the car and all I have to do is follow the road.


  1. Excellent Post today Mr. T! Thanks for sharing the chart with commentary too... it helps me get in your head a bit better... Keep up the great work and thanks ever so much!

  2. This is one of the best charts you posted. Now it all make sense and logical. Again, Thank You very much for your post with markings and hope you would continue with this format.
    I look forward for your post every single day.


  3. Hello Tom,

    One thing I struggle with is waiting for the turn. (Confirmation) I notice being a long time follower that you have no problem with this. Was this something that came easy for you or was it a lesson that had to be learned?

    Just to be clear, when I say waiting for the turn, like entering on the pullback to the EMA. I fight with wanting to front run it for the sake of getting a better entry and save a few ticks.

    I am sure that you may say that it is part of your TP but still would like to know if this demon ever was with you.

    Thank you as always


  4. John, I have deep scars that will never go away. And that's a good thing as I'll never forget. There are very few natural traders. When I started there was no one to learn from so it was a trial and error experience.