7 [$4200 Sushi is what you get for eating near the market open. Oct 9, 2019]

  • NUGT I got back into yday late day, after FED meeting, thing broke out intraday highs late day I got long some, bit less than in the am bc the stop is wider.
  • HMY also bought some looks really good, small cap gold stock.
  • RLGY also bought some tiny, really nothing here on the daily but on the weekly chart thing has room, if it takes out this 6/7 area could go to 8/9, kinda anticipating a potential breakout.
  • Market is gapping up a little bit my feeling is it’s gonna fade the gap up, we’re in this little downtrend here now we’re just gapping up into these declining MAs.
  • China gapping up, one has to pay attention to the longer term charts, especially China is kind of tight, building a triangle formation, hls for the past 5/6months, have to follow the price.
  • MNK still building hls, but cannot break this declining 20day that’s been acting as resistance for most of this year, it’s not breaking higher or lower.
  • NAT green, starting to approach high 3s this is exactly what I wanted, I’m gonna prepare an order in case it goes to 4 very fast. I’m not super excited, not gonna do any crazy size, looking for a trade I can risk 10c to make 40/50c, just bc I’m bored, I think there is an edge here but not gonna be a big money making opp for me. Shorted some, missed my entry not gonna chase this thing. So what I saw in this trade, it’s up 4days in a row, up 65%, then the first signs of weakness, here on the 1min it gapped down then went green, had a push to this high3s/low4s then once it started showing weakness which it did here, kinda took out this little bit of a range it built, pretty much took out this previous 5min candle lows, then you have a set stop, it’s all about the r/r.
  • I really believe the big money is on the long side, multi week and multi month moves… You don’t even need to take huge amount of size to make big big money if you catch something big, you catch a few big movers per year, after not that many years you don’t have to work a day in your life.
  • I tried options and they’re not for me, I think you have less of an edge trading options, it’s so much easier to lose money bc you have the time factor and all the other things, just too complicated. I think the leverage you can get from a normal broker like 400% intraday and 100% overnight is more than enough, you don’t need more than that, you’re just gonna blow up.
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