Throughout my trading career, two things of have stuck in my mind that I learned a long time ago on the floors of the Chicago Mercantile Exchange. I was trading for my own account and a select few customers in a space that was both hostile and friendly at the same time. The first was, "the trend is your friend." Trends tend to persist longer than most people expect. Just look at the recent bullish trend in the equity markets that has been going on now for six years. By any mark in history this is an old and tired bull market. Only one time in history did a bull market trend ever extend to seven years. As they say when you climb Mount Everest, we are now in thin air. "The trend is your friend" is an amazing thing to remember when you are trading because that is where the big money is made. The next saying I learned as a young trader in the pits of Chicago was, "when in doubt get out." Sometimes you get a gut feeling in your stomach that things just aren't right. We all have emotions and feelings which sometimes get the better of us when we are trading and in many cases can work against us in the trading arena. However, there can be times when they serve you very well and I believe we're in one of those times. Arthur Cutten, a legendary speculator in the 1920s, was once asked, "What is the hardest thing about trading?" And he answered, "holding on to a winning position." The temptation to take profits off the table too early in a move is very real. One of the worst feelings in the world, and I know because I've been there, is to take your profits too early only to see the market continue higher. Then you say to yourself, "I will wait for a pullback, because it's just too high right now." When the pullback does not occur and the market goes still higher, you get less and less confident of putting on new position and therefore miss the major part of the move. This is the part of the move that can make your year. That is the huge advantage that our Trade Triangle technology has over an emotional, gut-based trading approach. The Trade Triangles determine the trend and stay in the trend as long as the trend remains intact. We had a major trend change in the DOW on June 30th, that was 2 1/2 months ago and a 1,000 points higher from where the market is trading now. I still see no reason to get excited about the long side of this market, it is just too early to be trying to pick a bottom right now. Relax and let the Trade Triangles do what they do best and let them show you when a bottom is in place. Just remember, the trend is your friend.
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U.S. Government Required Disclaimer—Commodity Futures Trading Commission
Futures and Options trading has large potential rewards, but also large
potential risk. You must be aware of the risks and be willing to accept
them in order to invest in the futures and options markets. Don't trade
with money you can't afford to lose. This is neither a solicitation nor
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made that any account will or is likely to achieve profits or losses
similar to those discussed on this web site. The past performance of
any trading system or methodology is not necessarily indicative of
future results.
CFTC RULE 4.41—HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this advertisement and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the MarketClub™ methodology or system will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation.
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