Here’s an update to my earlier trade post regarding head & shoulder patterns on the weekly charts of several Indices. You can read the original article here and you can read the 2nd part here about when the DAX hit its target within a few days. I also spoke about the Dow Joes 30 and the [...]

This post is courtesy John C.Lee’s Charts gone wild blog which I read on Stocktwits today.  John provides a good article about Jesse Livermore and his exploits on what would have been his birthday. It’s worth reading to learn more about Jesse Livermore and also to read some of his famous (and still relevant) quotes. Enjoy http://chartsgonewild.com/2011/07/26/happy-birthday-jesse-livermore/

‘A man must believe in himself and his judgment if he expects to make a living at this game.’ Jesse Livermore

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. – Jesse Livermore

So no trades for me the last two days despite there being some big moves overall.  Both yesterday and today during the very early morning there were no set-ups for me on either a system or discretionary basis.  With hindsight it was obvious that there were some good trades later in the day but by that [...]