Shinken Trader

The Art of War, written by Sun Tzu, states that victory in war (as in trading) requires knowledge of the enemy (the market) and also knowledge of oneself. 

Today, I came across this quiz for traders. It requires a TRUE or FALSE answer. Score one point for every answer that is TRUE for you. Continue Reading »

The 12M is at possible resistance; a sustained break above the current resistance will suggest an attempt to retest the Sept 1992 high of 2.0100. However, there is also the alternative view that the curent resistance zone can hold. Demark sequential exhaustion on the daily chart now supports the view that the resistance should hold. I am now waiting for trade setup and trigger for a sell trade entry 

12M is still in uptrend, 13w is in downswing correction and has reached 13W LRB support, as well as Midas support. 18D has Demark signal for high probability trend change. This buy signal was triggered at yesterday’s close. I bought at market, with stop loss at 183.00

The 12M is in upswing, the 13W is also in bullish trend, and so is the 18D. However, there is a Demark signal that suggests the trend on the 18D may change. Will watch for reversal clues.

The 12M has alternative scenarios. The most immediate scenario suggests that market is at a resistance top. This is reinforced by Demark at 12+, and a close above 1942 basis perpetual chart will give me the Sequential 13. On the daily, I also see the Demark sequential 13. I will be keeping a close eye on this for possible trade trigger

If the Russell 2000 closes below 784 for trade date 27 Nov, it will trigger my sell trade with stop loss at 810. Meanwhile as I write, the hourly chart is suggesting that the trigger willbe activated. 

I came across the following excerpt in John Mauldin’s newsletter.

Dennis Gartman’s Rules of TradingEvery year at this time, Dennis Gartman publishes his “Rules of Trading.” This year they are more succinct than ever, and I am taking the liberty of reprinting them here because, simple though they may be, they are also profound. Dennis has come by some of the rules the hard way, and it pays us to learn from his long and successful trading career. Continue Reading »