Considering the recent run with respect to the short JPY trades , as well recent gains made short USD – Im taking this opportunity (being 100% in cash) to wish you all the best – and get out of dodge.
Markets are nearly some relative near term highs ( with DOW around 13,600 looking like solid resistance ) so I find it highly unlikely that I will miss any “upward action” in coming days. As an active trader, these opportunities rarely present themselves so…..I am “obliged” to take it when I can get it.
Often traders will get caught in the moment when “everything is going up” – push their luck – and do run the risk of overtrading. Too commonly resulting in losses and significant psychological wear and tear.
When stars align and you find yourself sitting with significant profit and absolutely “zero” market exposure….one really can’t look a gift horse in the mouth.
This gorilla is going fishing!
Ill do my best to get a post in tomorrow evening and be back on track for the rest of the week. Good luck everyone!
Congratulations in being 100% in cash after some profitable trading. Since you think stocks have little upside (as do I) and fundamentally you are in the bearish camp, I’m wondering why not take at least a small bearish position in stocks though (or even forex, like long GBP/AUD which usually runs when stocks fall)?
I look forward to the trading opportunities that will arise when the time “to get short” presents itself.
As it stands – my short term system is not even close to getting short. In fact….I would likely be “flat to no trade” for weeks before looking to enter short. In all…..Im looking at this small “reprieve” as a likely pullback in a continued upward market so….I don’t short bull markets.
If I sit out a week of upside…and in turn sit out a month of “sideways” – Im one happy camper. Sideway is “no way” for me.
Sounds like a good plan, very disciplined in sticking to your rules as well, which is always good.
The last time we heard from you was that you were going fishing. Hope that all is well and looking forward to hearing from you.
Kong…. where are you bud???? LOL that was one big fish…. long USD/JPY this morning…