We need one of those whips that flagellantes use to beat themselves with. Yesterday we scaled out of a little of our gold position. Every good trader in the world says the same thing. I didn’t follow my system, and we didn’t. It had something to do with the full moon, but we don’t want to go into it. That would be worse than the whip. Anyway here is the chart with two alternative stop methods illustrated, as seen in the StairStops book.
The numerical stop is noted at the basing point. Frankly we have some emotional conflicts about this market. The downwaves are so vicious that we get tired of seeing our profits of months snatched back in a day or two. Basically we think you should just get long and accept the waves and ignore the stop. (Not in the system.) For the adroit we think trading against the position would be a good thing to do. We were not very adroit in this case. Probably had something to do with the gibbous moon.
Do you know when they will send my copy of the StairStop book?
Hal Goldberg
I will see to it.