LONG Weekend Gap-up
Hello everyone! Today i want to share some technical analysis with y!
1.
Long WEEKEND Gap-up: $S&P 500(.SPX)$
(1) yeah, it means sth if the market opens tmrw, but, it won't--so the future moves may just be some noises before the real elephant shows up--the bond.
(2) tariff on/off is just the smoke-screen to cover up the real issue here.
(3) still downtrend.
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2.
Some weekend reflections:
1, if you think a faceless & nameless guy on X is responsible to warn you when to open and exit a position and make sure you don't lose money, you are naive beyond repair.
2, if anyone in stock market still blames someone else for one's own loss, she/he is not fit for this trait, and 99% certainty will lose one's entire account in the long run.
3, I knew all along that only 5% of day-traders make money consistently. However, only recently did I finally realize that 5% of elite traders make 95% of the money in the pot. In fact, just like in all competitive games, that is the rule of thump. Winner takes all. That is also the reason why you don’t see quasi-successful career traders. No. Because if you are one of this ELITE GROUP, you will become a millionaire or billionaire, sooner or later.
4, as I wrote in this week's scroll, "Day-trading (not long-term investment) is a special profession that only a tiny percentage of human beings possess the ability to master it. Like a race-car driver or a NBA player, NOT EVERYONE IS CUT FOR THE DAY-TRADING TASK, regardless of how hard you learn or try. A successful day-trader has to have a rare combination of comprehension & execution skillset, like a hybrid of a Harvard Physics professor and a Navy SEAL killer. The easiness of buy and sell stocks or options on the portable electronic devices conceals the cold-hard truth that this is a killer game—literally, you have to have the guts and BALLS to pull the trigger when the mass majority is against you. Few dare to try in real life, so the vast majority of traders will become cannon fodder in THE brutal fight, without even knowing who and what hit them."
5, what I tried to offer my subscribers (or my followers in a more general sense), is not fish, but how to fish. I am not perfect, but I believe I belong to that tiny elite group of masterful traders--or pro killers--who can strategize and execute a trade smoothly and cold-bloodily. From my personal experiences, I know how tough it is--the mindset and tranquility in front of a coming tornado.
6, a few weeks ago, while training a small group of quant-traders who are all Ph.D. in E.E. or Mathematics, all with 10+ year of trading experiences, I told them bluntly: "if you haven't had an experience of winning a million $ in a single day, you are not in the ELITE group yet." Simply put, to achieve this goal, is not pure luck, it is the toughness and strong will--in addition to solid research and pattern recognition.
7, the vast majority of people (traders) are not fit for this--they are the 95% base, and they bring the 95% money to the elite. Or, to pay the ticket to get into the arena, to have a chance to play with GOAT side-by-side. They don't stand a chance. It is as if a normal guy can win the world boxing champion simply by listening to Mike Tyson's winning strategy. Come on!
8, the only smart move is to give your money to those who really get it, and let them manage for you. Even for this route, it is a bit difficult to identify the true genius (killer). Yeah, Medallion fund has generated average annual returns of 66%, but it is closed to general public.
9, if my long-term wave count is accurate, I believe, even if I am right in my roadmap & prediction 60-70% of time, half of my subscribers won't make to the end of year. As to X-followers, they come and go, and most of the active trolls to this account 2-year or 1 year ago, are already 6-feet under--the grass on their grave maybe 2-3 feet high.
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10, let's forget them--just like all of us, will be forgotten in the long run.
MPW writing on Memorial Day weekend.
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