Parting Shot: update to May 17 "throw-over" chart post.
The picture remains the same when using a log scale. A push back down into the 6350 - 7080 range basis June SPs would suggest the mother of all bull traps.
I made millions of $’s trading in the NQ pit at CME, after divorce in 03, remarried in 05, huge changes in floor trading I was slow to react to, 2008 my Mom died in June, my sister died in Nov & my mother-in-law in March plus failure of my prop group I owned, real estate investments gone, investments gone, I went back on the floor in the Hog pit to rebuild. MF Global failed in 2011 & I failed with it. I began to chase the large amount of money MFG took, I was swinging 6 figures a day till I had nothing left—totally broke. I was married with 5 kids. We sold our house, moved into my dad’s home—like Job, I sat on my pile of dung feeling terribly sorry for myself. I saw no way out or no way back.
However, I had the love of a good woman who saw what I couldn’t, a semblance of faith in a God who loved me. I smoked too much, drank too much, and was terribly depressed. I had a choice. Give up, or put one foot in front of the other in love and faith. 10+ years later, I am a better trader than ever, a better father and husband, I am in better shape at 55 than ever. My kids are all happy and healthy. My wife and I couldn’t be more in love. I now know the difference between being rich and being wealthy. If you are struggling, DO NOT give up. Keep moving forward……. It gets better. God bless you all. Pray for Peace.
Live below your means. Take profit and learn to add to profitable positions without risking what you have already locked in. Always use stops. If you can’t pay cash, don’t buy it. Dont pick tops and don’t pick bottoms. Did I mention to live below your means? Survive to thrive.
Pray! Meditate! Run! Walk! Lift weights! Eat whole, healthy foods with intent. Sleep. Drink in moderation or don’t drink. Don’t smoke weed. Don’t do drugs.
Learn to see yourself as God sees you. Walk into every room as if he sent you.
You-we don’t fight alone.