Take Some Off The Table – Just Do It!

With all that we do in our normal daily lives, inevitably there comes a time when things just don’t seem to “do it for us” – as they once did.

The music doesn’t flow, the words don’t come, the canvas sits blank – staring back at you like a long cold winter, and nothing really “does much” to get you up and out of bad…each and every day.

Your’e bored. Things haven’t changed.There is little news, and life just seems to be an endless string of events – repeating themselves day in and day out.

Well then get off your ass Bucko!

I’m bored stiff watching this bullshit market swing back n forth in “no man’s land” day after day, but what? You think that’s gonna get me down? Fat chance of that! It’s just a market for Christ’ sake!

Get up! Get going! Go find something “productive” to do with your time, and don’t let this thing get you down.

Its pretty obvious at this point, that the majority of traders and investors alike have now fallen asleep at the wheel. It sounds to me like most people are completely satisfied with the idea that “things will never go down” and have even become used to the idea that “things may not be going up” either.

People seem to have grown accustom now…..to this endless back n forth / stagnation of price, content to “hold” but with less and less expectation of much further return. Sounds complacent to me.

That sounds like a pretty good reason to take something off the table if you ask me. Profits are only profits once they are sitting in your account.

I’m taking my second entry on adding to USD shorts here this afternoon., with a final installment likely early next week for my last kick at the can before I go find something else to do too.

Life is too short to sit here watching this thing go nowhere.

7 Responses

  1. madness April 10, 2015 / 5:26 am

    Kong,

    Surely a sign of a good trader/investor is someone who is able to modify their thinking and plans based on what is happening?

    Seems to me as if you are not happy with what you are seeing and you have decided to walk away until the markets behave in a manner which you believe to be correct? The market is always correct (whether we like it or not) and it is us that have to modify our plans to fit in with the markets. The markets are not going to change to fit in with us.

    I decided any ‘risk on’ positions I would take would only be 10% of my usual lot size with a 2% stop. Risk thus was more than adequately contained. So far this has worked well for me although it has been really frustrating as had I been trading my usual lot size, returns would have been substantial but I guess that is the price I have had to pay for my belief that we are in a market that have no fundamental value attached to anything.

    It’s now all just a mad scramble for anything that seems to have upward momentum and a chase for yield. The CB’s have utterly destroyed any concept of valuation. The scary part is the CB’s haven’t even gone full on absurd yet. Imagine when they do.

    Look at Dax – up 47% since October lows (5 months)- markets do not care about earnings, PE, valuations. It’s all CB and free money. Will a weak Euro aid exporters? Short term maybe but if the world is entering a recession, how much effect will a weak Euro have? Yet no one cares about such things.

    Look at Far East (Hang Seng, China, Japan). Speechless.

    • Forex Kong April 10, 2015 / 8:48 am

      Well done Madness. You are eager and motivated..thats what keeps you pushing and slugging away during these difficult market conditions.

      I have indeed grown bored / disinterested in participating here so……we all take our shots and make decisions according to our own plans.

      You’ve scaled back. Excellent.

      I’ve sat out. Excellent too.

  2. madness April 10, 2015 / 9:03 am

    I wish I had your courage and success in my earlier trading life and then I too would have the luxury of choosing when to trade and when not to (am not jealous as I realize we all have our destinies and fate).

    However us mere mortals have to keep struggling everyday as I am in no way able to take time off as when I get bored and sick of the markets.

    You are correct, I can’t bring myself to feel comfortable at these lofty height hence the greatly reduced lot sizes yet it feels like there is nothing that can stop this madness from continuing. Sitting here watching the Dax as well as US indices, there is nary a pull back on even 5 minute candles for hours at a time.

    If you don’t mind me asking, if you are not at your screen all day, and plan to take a break, I assume you still try and catch up at some point in he day as to what s happening. As such, what daily “signal” will you be looking out for to get back to the screen and start planning positions? is there anything you have in mind (either fundamental or some bearish candle patterns).

    Thanks.

    • Forex Kong April 10, 2015 / 9:09 am

      You’re doing fantastic Madness. I imagine you will turn out to be an amazing trader if you aren’t one already!

      It’s difficult to say “what” might provide the catalyst here, in order for me to get interested in putting money at risk but I assume it will be some kind of gigantic red candle, out of the blue, on excellent news, when no one at all expects it.

      Likely on some seudo geopolitical scare, or world event as opposed to anything particularily market oriented.

      As youve suggested the markets…the markets are set as the “con game” continues so….I imagine a “global event” will let the CB’s off the hook with a great excuse that “it wasn’t anything that we did!”.

  3. madness April 10, 2015 / 10:01 am

    Thanks for your words of encouragement Kong 🙂 Have a long way to go to become good, just muddling through.

    I am trying to learn as much as I can, technical + fundamental. But since October last year, equities have been on a tear and you can’t go wrong just buying. I know this is not skill, it’s just pure hysteria brought on by CB QE and CB talk yet everyone thinks they have it all sussed out and are star traders.

    Likewise was thinking the same thing. That one day, some news that everyone takes to be positive, just acts as a brake and all those calling for a up day pre-market, are surprised when the markets do not rally.

    Anyway, enjoy rest of your day/weekend. Nothing much happening in US market, just grinding up slowly, trying to come up with excuses as to why it should go higher and higher.

  4. John April 11, 2015 / 2:41 am

    Great post guys. With all the market madness I’ve recently decided to take a different approach.

    I was in and out making good profits with AUD/USD and USD/NOK, but frankly I’m tired. There’s only so much energy one can focus on the market day by day with success, unless we’re eager and motivated traders like madness I guess 🙂

    As such, I’ve decided to sit back away from almost all my trades, cross my fingers, and just hold my gold/usd trades till $5,000 and up. Yeah, I’m going to be missing out on all the short moves (and excitement???) which could be profitable, or otherwise, but that’s the price I’m happy to pay for peace of mind.

  5. madness April 13, 2015 / 3:49 am

    John:

    Gold = $5k. Wow. Do you envisage some major inflation or some major catastrophe?

    Reading over the weekend, seems like everyone setting up for a major equity market rise. The “funny” thing is most are saying this rise may be the final phase of a bull mania. It’s almost as if everyone accepts this is a manic rise but don’t want to miss out on the final parabolic rise. They all believe they will be first out the door and then they will go short.

    Could this be the start of a downturn? When everyone acknowledges the weakness but position for a rise as its a 100% sure thing?

    John: You are right, it is getting very very tiring.

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