the Pound, gorilla’s and juggling dynamite …

“once you decide to deploy capital, in any market, realize that you are entering a cage w/ gorilla’s and OBTW they are juggling dynamite”  

Joe Dinappoli (www.fibtrader.com)

STUDENT: Larry  what is a good month of trading? (www.tradingtutor.com)

MENTOR: “looking at your P&L and seeing $.01 or 1 cent”

I deploy capital in one of the hardest markets in the world … the SPOT FX market.

I can only manage risk.

I have posted 3 prior “real time” blogs around trying to SHORT the Great British Pound vs the US Dollar and the wonderful pumpkin soup that I have eaten  based on ANALYSIS … another true confession time, I have not deployed capital and have sustained ZERO losses since AUG 2013.  Yes, I have not captured this pretty major move UP because I am dedicated to the short side so I am WAITING in CASH to deploy capital.  Judge me or judge me not – the “look and feel” after spending 10,000 hours + on the charts – read the TIPPING POINT – has just let me allow the market to come to me and that is the beauty and the chain of a discretionary investor.

The above paragraph is the testimony to why I am blogging …perhaps someone will read this and 1) learn and 2) realize that the only thing we can control is the amount of losses we will sustain.

I am entrusted w/ other peoples capital and, quite frankly, I consider it the holy of holy’s.  So, when the decision to deploy capital presents itself I simply ask myself “have I done everything I can to manage the risk…?”  If YES deploy, if NO then don’t.  See the chart below …

Best and Final for the GBP

Best and Final for the GBP

One Comment on “the Pound, gorilla’s and juggling dynamite …

  1. Pingback: Great British Pound – again | Bart's Charts

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