The Weekend Trader Part 1 – That Razor Thin Line

Lots going on at this end as we approach summer, so let’s go with the shorthand version today.

PivotPoint Weekly Briefing - The weekly PivotPoint Advsisors briefing has been posted on the PivotPoint site (Briefing Room Tab) and describes (1) this week’s trade sequence, (2) our protective stop exit, and (3) unique current market scenario.

As has long been our theme on this intraday trading blog, the PivotPoint briefing similarly reflects full transparency in terms of both the successes and challenges of our ongoing market journey.  The only difference is that the PP material reflects longer-term daily and weekly cycles – and often involves non-margin equity accounts – versus the intraday futures cycles often referenced here that we traders work with on a daily basis.

Team Jellie #8 – Team #8 is in full swing and will begin its second of four weeks on Monday.  This effort is purposely one of our smaller teams (as many know, I added this unexpected summer edition just recently) as we focus on adding a more personal theme in terms of individual trading troubleshooting.

One obvious early theme is that of correcting an extremely troublesome “retail” entry tendency that one of our participants somehow got embedded in his trading pattern, including chasing breakouts at new highs or lows (“turtle soup” style) or during times of oscillation (i.e. MATD) markets.

As I’ve often said, the line separating excellence from mediocrity (or worse) – even in my own trading – is razor thin.  And it’s always a great personal pleasure to see someone step across that line.

Personal Scorecards & Trading After Dark Update – As I continue to fulfill my ongoing PivotPoint CIO role, I’m considering returning to some of our original blog roots in terms of discussing current key intraday trading tendencies and scorecards, in addition to publishing another Trading After Dark installment which I expect to do shortly.

So look for more info on this in the near future.

Jellie Webinar Discounts - I’ve admittedly been a bit surprised at the extent of interest in the discounted Jellie Webinar series, especially when the normal tuition fee is placed so far below market and its underlying value (as defined by industry leaders) to begin with.

And while it seems a bit penny-wise and pound-foolish for traders to wait for a further discount, I’m of course very pleased to be able to increase the circulation of the material even further, while of course further helping our charitable causes.  And so I’ll keep the option to purchase the eight 2-Hour Webinars chronicling the beta Jellie Team’s journey at a $250 discount a bit longer.  Simply email me at don@donmillereducation.com and I’ll forward a discounted PayPal invoice.

One question often asked is whether I reduce my “advantage” by further sharing the concepts and strategies – which is an industry ”excuse” offered by many so-called traders. 

My response?  While I could write pages on why such an excuse so ridiculously absurd that it’s off the charts, two immediate responses are that (1) the S&P’s are the most liquid futures trading vehicle on the planet, and (2) trading success will always be dictated by one’s ability to execute the strategies in this performance-based skill business … which will vary even for the most seasoned and successful traders.

For example, as I told Team #8 this week, there are only three things that will ever keep me from profiting in the markets: (1) Personal Motivation - Remember those Catching the Rabbit posts??, (2) Focus, and (3) Simply being present – i.e. you have to be present to win.  And yes, I often struggle with each one of these demons at various times … especially the longer I trade into my 50s.

And such remains my personal battle to stay on the correct side of that razor-thin line, let I get cut by straddling it.

Twitter Trader Followers – For those who like nice round numbers, we’re now over 1,000 and still climbing.  Not that Charlie Sheen has anything to worry about.

Climbing the Charts – And speaking of counts, it’s nice to see Cherie Norquay’s (wife of PivotPoint CEO John Norquay) inspirational memorial day “One Nation Under God” song climbing to #3 on the Indieheaven site.  Check it out!

Have a peaceful weekend.