Here’s Why It Pays To Be Consistent
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When the setup exists, and risk and
reward can be measured adequately, sometimes it’s best to remember the simple
yet effective slogan, “Just Do It”. Earlier today, some of the
friendly banter going on in TMs chat room was centered around economic numbers,
i.e., the Beige Book. At the time, I saw a setup developing in KLA-Tencor.
This particular reversal trade didn’t work out. To me this is nothing more than
an individual trade, in a much larger numbers game. That’s why we take them as
we see them, so at the end of the day there are hopefully more winners than
losers.Â
Two of the earlier trades that also made up part
of our trading day, but went in the direction of our longer term winning edge…
09:50:58
Intraday
Setup Alert
From the Nightly
Daytraders Report Electronic Arts (ERTS)
is forming a potential TrapDoor Opening
Reversal. Look for entries above 60.90. The stock is down .85 at 60.75.
10:24:40
Intraday
Update
Electronic Arts (ERTS)
triggered out the TrapDoor for a quick scalping opportunity on our 9:50 post. The
stock is now forming a 1,2,3
long entry off of the same intraday price supports. The stock is down .90 at
60.72.
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I don’t claim to have a crystal ball, all
I’ve got is a strategy with an edge that needs to be traded consistently, in
order to work itself out over the long haul.
Chris Tyler
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