End of Week Recap - Downside To Come?
End of Week Recap - Downside To Come?
Landshark Capital
I took today off because OPEX is usually a mess for trading and it looks like I didn’t miss too much but things are going to get interesting next week.
Plus, living in Puerto Rico 6 months out of the year is pointless if I don’t enjoy the island.
The downside on this market is setting up to what could be a huge sell-off and I like to position myself to “ride the waves” 1 or 2 times a month instead of fighting each tick for small change.
If $3940s fail next week we have a HUGE wave to catch lower.
An even bigger one on Nasdaq futures.
By the way, if you subscribe to The Futures Membership (Not the ES one here on Substack) - I’ll be adding NQ Futures to the worksheet.
Riding waves can lead to days like this - from last week (coming in short positioned)
When you can see the move ahead of time you can position for it accordingly.
And I like riding the larger waves.
And next week I’m banking on the fact that I’ll have another 6-figure day because of how I position my book going into what could be a big sell-off.
Trading The Chop - Some Advice
The past 6/8 weeks this blog has grown and so has the community. I meet a lot of you that say you over-trade, struggle and can’t find success. I meet a lot of you that come from “trading communities” where you guys sit there 8 hours a day trying to catch each move, worrying about each news event and to be blunt: trading like complete degenerates.
I can say these things because I don’t care if a single one of you subscribes to this blog or reads it - I don’t depend on it like some of your “mentors” are.
And sometimes you need people to tell you you’re being a f*cking degenerate so you can change and progress.
Trading in chop is detrimental and if you or your account has not realized that I don’t know what to say.
You might make a little cash but you’re going to give it back.
I know this because the first traders I ever taught way back in 2013 were struggling with THE SAME things some of you I meet today.
It’s a movie on re-run but it’s on you to press stop.
But how do you tell an addict, who might be having fun in their mind, that they’re doing it wrong - you don’t.
When I first starting teaching, for 3 months or so, I had a live trade room - one where my screen etc was on.
You know why I closed it? Because it brought in the degenerates who wanted to press buttons, chasing EVERY. SINGLE. MOVE.
There are two things that are going to happen eventually doing that.
You’re going to lose all your money
You’re going to burn out
And sooner or later you’ll realize both are not ideal and that there is a better way.
The one thing I can impart on anyone of you that reads this blog is this:
The less you trade the more you’re going to make. The more patient you are waiting for highly reactive areas, the more you’re going to make.
Most of your money in this game is going to come from catching maybe 1 or 2 big moves a month, even if you’re trading 1-3 lots at a time.
Sit back, be patient and take your shot — or don’t.
Some Free Education For You
Here are some links I can recommend looking at this weekend if you are a developing futures trader.
For subscribers, there’s nothing to recap today. Enjoy the weekend - there will be a Monday outlook come Sunday evening.
Thanks for reading,
Dan
This article is presented for informational purposes only, is an opinion, and is not intended to recommend any investment, and is not an offer to sell or the solicitation of an offer to purchase an interest in any current or future investments. Any such solicitation of an offer to purchase interest will be made by a definitive private placement memorandum or other offering documents.
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