The Student Loan Ranger

New wave trading. The period where I made the full transition from anything UK to everything US. New psychology, new rules, new abilities, new guns.

http://thestudentloanranger.blogspot.com/2009/01/2009-trading-and-daily-action.html announced my comeback into market watching and trading. Signed up for a new data source and charting package and began watching just a few stocks. I also draughted a very concise and clear set of trading rules that I intend to stick to. Also begin to post daily blotter on elite trader to gauge consistency.

http://thestudentloanranger.blogspot.com/2009/01/intra-day-action_16.html Began a series of successful scalps, still selling too quickly though.

http://thestudentloanranger.blogspot.com/2009/01/excel-programming.html continued to develop my trading spreadsheet and incorporated a r:r calculator for added automation. I also incorporated a fictitious logo to add more discipline to my game. Lost quite a bit on AA based on a typo at this stage, so now everything is double checked.

http://thestudentloanranger.blogspot.com/2009/01/intra-day-action_19.html Nearly a year after I bought it at around £4, RBS is trading for 10p. The biggest disaster in UK company history is what they called it. I was, and still am, delighted at this decline.

http://thestudentloanranger.blogspot.com/2009/01/week-ahead.html this post resembles an early crystal balling post. However I have little confidence in TA at the moment and didn’t trade any of it. The price levels are too choppy for me, and those 2 weeks seemed to be the third wave of fear after June-July and Sep-Oct.

http://thestudentloanranger.blogspot.com/2009/01/intra-day-action_25.html I begin to monitor Forex, starting with a nice trade in GBPUSD.

http://thestudentloanranger.blogspot.com/2009/01/intra-day-action_27.html detailed FX setups included in a post for the first time. Start to spend more time watching FX than stocks.

http://thestudentloanranger.blogspot.com/2009/01/intra-day-action_29.html sever all ties with UK and UK companies after cmc lockout debacle. Sign up for TOS and entire a new era in my trading career.

It’s now March 12th 2009. My account with TOS is days from funding and I no longer operate through the UK. I spend most of my time watching futures, which is a far far cry from my beginnings in small cap UK industrials and speculative oil stocks.

I’ve learned a huge amount about trading in the last year, enough to fill a huge post, but that’s for later. The most important rules in my opinion are as follows:

1. Have a trading plan and mission statement and follow it rigidly.
2. Calculate and accept risk before any trade based on your trading rules.
3. Excel at technical analysis.
4. Maintain and reflect upon an in depth trading journal and learn your mistakes.
5. Fear and greed are irrelevant in trading.
6. Get statistical information about your trading habits and develop new ideas from them.
7. Stay away from anyone or anything remotely linked to the United Kingdom financial and trading industry.

Severe volatility of the market forced me to the sidelines during this period. It was too hard to the best position was no position. Spent a lot of time working on trade management ideas, spreadsheets etc while I was on the bench.

http://thestudentloanranger.blogspot.com/2008/09/blog-post.html the briefest of all my posts features a chart of the S&P; with notation on recent financial sector news. After this, my monthly average for posting dropped to 6 from about 22. I stepped out of the market for several months, the volatility was too much for a beginner like me.

http://thestudentloanranger.blogspot.com/2008/09/trade-tracking.html despite being out of the market, I continued to work in Excel to create a trade tracking spreadsheet that would fully analyse my completed trades. This was to work out which setups were working, whether i was a bull or bear, my win ratios, average net etc.

http://thestudentloanranger.blogspot.com/2008/09/trade-tracking_29.html Continued to work on the trade tracker spreadsheet. This is a huge asset to the trader.

http://thestudentloanranger.blogspot.com/2008/10/continued-selling.html September 10th 2008 and we are in the middle of the biggest financial collapse in nearly 2 decades. http://1.bp.blogspot.com/_VUtY-2LMgqY/SO-YCm8BoAI/AAAAAAAAAsc/XM5cNkoTD5c/s1600-h/londontownisfallingdown.png http://3.bp.blogspot.com/_VUtY-2LMgqY/SO5MAj2Q-dI/AAAAAAAAAsU/P0p6FpFEaeU/s400/maprecover.png

http://thestudentloanranger.blogspot.com/2008/10/intra-day-action_21.html despite the mire, I was still able to practice my TA. I was working with smaller time frames and my analysis was good – mostly because I wasn’t putting my money on the line. At this point I think I realised I would rather be an analyst than a trader. I made 4 posts in November and December, the 1 in November was pretty much a token gesture.

Recession scalping and the lack of confidence era.

A trader in this market had to be extremely quick with entries and exits, and had to constantly manage their positions to make anything of it. For a relatively new trader this period was very frustrating and led to me taking a long break out of the markets until something turned for the better (or became easier) on a technical level.

http://thestudentloanranger.blogspot.com/2008/07/week-ahead.html the first post and a vague guide to what i would be trading in the future. This post marks the end of the crystal balling/wrap up era.

http://thestudentloanranger.blogspot.com/2008/07/intra-day-action_15.html at this point I am nearly all off the UK market. This post also takes note of what i now know is pair trading. At this point i wasn’t aware of the term or it’s implications. This is right around the time of the Fannie Mae Freddie Mac breakdown and the insane oil bubble.

http://thestudentloanranger.blogspot.com/2008/08/intra-day-action_07.html a landmark 100th post featuring some nice intra-day analysis of an AA trade I made. I continue to sell out early to this day.

http://thestudentloanranger.blogspot.com/2008/08/weekly-round-up.html An evolution from manual technical analysis trading to automatic systematic approaches was explored in this post, which I regard as very high quality and maybe one of the best on trading I’ve made

http://thestudentloanranger.blogspot.com/2008/08/intra-day-action_11.html Continued to analyse automated systems, and by this point I am regularly scalping the US market with little attention to anything in Europe. This was perhaps the best move I made during this time. The UK markets are s*** just in case you didn’t already know!

http://thestudentloanranger.blogspot.com/2008/08/intra-day-action_12.html Early signs here that my trading was struggling in this environment. In hindsight my risk tolerance was too low and the setups I traded were on too short a timeframe.

http://thestudentloanranger.blogspot.com/2008/08/intra-day-action_13.html the final straw for UK stocks as I make the final decision to cut them out of my trading plans.

http://thestudentloanranger.blogspot.com/2008/08/temper-temper.html This post was a huge turning point for me. The market was nuts, and I was still trading and taking hits on bad setups. My exposure was too high and my tolerance too low. After 3 back to back losers I hit the wall in the room and broke my hand. I chilled out a lot more after this and began to take a back seat, making trades here and there on better setups.

http://thestudentloanranger.blogspot.com/2008/08/intra-day-action_26.html trading errors still in my game as I adjust to being back at college full time.

The following post at http://thestudentloanranger.blogspot.com/2008/08/intra-day-action_27.html continued to make me low on confidence. I was too scared to lose money that I kept missing out on making money. This is a serious problem for any trader. My current trading rules mean that trading like this is no longer an issue.

http://thestudentloanranger.blogspot.com/2008/08/crystal-balling-sep-1st-5th.html The UK market and crystal balling make a brief comeback after I contemplate a reversal to swing trading. For a while, charts were a little calmer as they consolidated. However a second major wave of fear hit the market shortly after, and 3 times as worse as it was before.

This period was when the credit crunch really took effect on the markets and the volatility was just insane. This was a horrifically difficult period to trade, especially for a newcomer like me. A more experienced trader would have interpreted what I was thinking as a very easy hint to take all their money out of the market, or open shorts all over the place.

Credit crunch era

http://thestudentloanranger.blogspot.com/2008/06/trading-breakdowns.html harmless post on meltdowns, i should have realised that this was the ‘credit crisis’ really beginning to kick in here in mid June. I had closed my III account around this time on the back of some ridiculous let downs. If I was a more experienced trader, I would have pulled all my money from the market here – or shorted SPY long term. I wasn’t and I didn’t.

http://3.bp.blogspot.com/_VUtY-2LMgqY/SFVugx7A70I/AAAAAAAAAW8/wGT9WYLZC6o/s400/cball2.gif crystal balling logo first used mid June.

http://thestudentloanranger.blogspot.com/2008/06/weekly-round-up_20.html things really starting to meltdown in a post where the round up logo was first used.

http://thestudentloanranger.blogspot.com/2008/06/crystal-balling-june-23rd-27th.html Judging by this post, I would say that the credit crisis officially and very suddenly took effect on the short term markets between June 15th-23rd.

http://thestudentloanranger.blogspot.com/2008/06/crystal-balling-june-30th-july-4th.html this post was the first to feature an alert section for stocks of a lesser quality setup, and involves the first stock rotation programme on my watchlist.

http://thestudentloanranger.blogspot.com/2008/07/intra-day-action_09.html credit crisis affects markets so much I stop trading for a week, reliability of setups was non existant at this point and I was frequently stopped out of trades very quickly. It was in this week that I began my relationship with cmc.

This week features a classic period in the TSLR blog when charts were clean, and swing setups were ’safe‘ – The Vintage TA era.

At this point in time, stocks were breaking out to the upside. It was April-June 2008 and the credit crisis was yet to show it’s true hand. The setups were very very clean, and would go either way quite predictably after triggering certain price levels.

I would give breakout/breakdown figures, measured moves, explanations of the entire trade right down to the pence to take profit or to cut losses. Judging by my records and a few of the posts, I estimate my success rate of calls during this period at over 75% based on trigger points.

I was really struggling to put the trades on though, which made me miss a huge amount of money making opportunities due to me lacking the mental edge in trading. These remain the most in depth and accurate posts since I became The Student Loan Ranger.

This eye of the storm period didn’t last long but I got some great trades from it.

http://thestudentloanranger.blogspot.com/2008/05/weekly-round-up_17.html one of many highly accurate weekly roundup posts.

http://thestudentloanranger.blogspot.com/2008/05/crystal-balling-may-27th-30th.html HELLS YES

http://thestudentloanranger.blogspot.com/2008/05/weekly-round-up_30.html first roundup to really analyse my market calls. I was ridiculously good at making the calls in this market, but i really struggled to trade them. A glimpse into my success rate at that time.

http://thestudentloanranger.blogspot.com/2008/05/crystal-balling-june-2nd-6th.html I used to have so much time to do this! This post marks the exact point I started tracking US stocks. I tracked CIEN anticipating a long, but with stops and shorts at 29.15. CIEN was trading at under $20 a few weeks later, and went as low as $5 in December.

BONUS PULLOUT CENTRE FOLD – Broker Blowups!

A slightly smaller installment in the series as I take time out from chronological order and focus on my battles with brokers, data feeds and software.

Anyone who is based in the UK that trades without a US broker, data feed or US standard charting package will know the difficulties involved in getting good, reliable, malleable data. To any would be traders sitting in the snow in Wigan thinking “You know what, I’m gonna start trading” – let me burst your bubble. Don’t bother with the UK. Ever. I say it nearly every post at the moment.. just don’t even waste your time.

The UK market is a joke. Anything that is a joke can’t be taken seriously. You want UK based charting software? No. You want free level 2 data? No. You want direct access software? No. You want a reliable broker who executes your order quickly and at your price? No. You want cheap commissions? No. You want to pay 0.5% stamp duty on every share purchase? Yes!

Anyway. I’ve gone through 2 brokers and 2 different data sources and software packages. And both are a big old pile of

By reading this short post you can clearly see the pain and anguish I went through dealing with anything even remotely linked to Britain and trading. Note to reader: UK and trading don’t mix. It is not in our mentality to be successful – which is barely the surface of the problem with the UK stock market.

Enjoy the blow-ups because I didn’t!

—-

http://thestudentloanranger.blogspot.com/2008/04/i-hate-iii.html First rant at unreliability of broker and UK market data.

http://thestudentloanranger.blogspot.com/2008/06/end-of-iiicouk.html First broker ‘blow-up’. Apparently limit orders don’t exist with UK brokers!

http://thestudentloanranger.blogspot.com/2008/06/oh-come-on-this-is-getting-ridiculous.html Second ‘blow-up’ shortly after featuring the infamous ‘soldier gunning iii’ photo that remains on the blog today. I closed the account shortly after this ‘third strike’. This post still makes me laugh.

http://thestudentloanranger.blogspot.com/2008/08/raging.html A policy change from CMC meant I was now being charged commissions without notice, which cost me a heap. Start of the long and painful downfall of CMC. I remember I was absolutely livid with them.

http://thestudentloanranger.blogspot.com/2008/10/here.html beginning to lose faith in CMC by September

http://thestudentloanranger.blogspot.com/2009/01/horror-and-humour.html A very funny montage of pain after being intentionally locked out of a forex trade begins a 24 period of anger towards CMC. I closed the account that night as CMC, like III before it, ‘third striked’ me.

http://thestudentloanranger.blogspot.com/2009/01/more-pain.html The account with CMC is closed after 2 weeks of the ‘new wave’ of trading. Despite losing maybe only 1.5% of the account value in this period, their crapness could no longer be tolerated, and they join III in the pile of doom.

http://4.bp.blogspot.com/_VUtY-2LMgqY/SYD1FSx8keI/AAAAAAAAA90/ibmipYCFO6A/s400/lol.png This poster severs all links with the UK market and UK based financial information/brokerage companies as I sign up for think or swim. All data and execution is now stateside.

——

Post-script thoughts;

Let me just mention something here about US/UK companies, products etc related to trading.

UK companies/services

iii.co.uk – £10 commission each way plus stamp duty. Delayed data on delayed portfolio. No software. No limit orders. Stop losses never closed at price. Atrocious/Horrendous/Badword dealing team.

CMC markets – bucket shop, intentionally closed out of platform. Unreliable. Awful customer service. Terrible charting. No deal from charts. Problems getting money out, no problem getting it in. Posh clueless idiot on other end of phone all the time.

Quotestream L2 service. This was basically just market depth. The charting was not at all interactive. No line drawing ability, no studies, could not even change moving averages. £20 a month. Unversatile and unreliable sh*t.

ADVFN L2 service. Bit more in depth. Web based java platform. Only time and sales (delayed too) for US stocks. Forums full of UK trading newbs and idiots. £35 a month! Crap charting. You also had to cancel 2 months in advance otherwise they charged for part month and the next too.

US companies/services

Prorealtime charting package. Free end of day downloadable java based program with all the studies you could ever want. Although pricey for real time data, it’s better than anything to come out of Britain. Yes I’ll say again, it’s free.

Quotetracker. Excellent and free charting package (requires data feed). Interestingly they cite ADVFN UK as a compatible source – but ADVFN are unaware of this and recommend using their own java charts lol. I would be saying “hell yes you can use our feed” given that QT is the number one port of call for beginner chartists. They would make a fortune of UK traders signing up for their feed solely for QT. But no… they’re idiots.

IQFeed data source. Account set up instantly. $30 for NYSE, NASDAQ, CME live data – equities, internals, etfs etc. Remarkably reliable, efficient and high quality data service. Cancelled this because I don’t need it. Email response within an hour saying it wasn’t a problem, and no more payments will be taken from me and I get to use it for another 3 weeks. Customer service and product quality were obviously what they were going for. Money is what a UK company goes for, and they sure make it obvious.

Think or Swim brokerage and platform. Although not full set up, the application process was simple and quick and the software is absolutely superb. We’re talking $1 or $2 commission total in/out, FREE live real time data including ETFs, indices, equities, futures, options, forex, internals etc. Can more or less deal direct from charts and platform includes an absolute raft of extras and order types. Good customer service so far too.

Now after reading that – can you tell the difference in quality? Everything UK based is garbage because there is no competition. If I programmed a charting package that could link to xyz (I don’t even know any UK brokerages anymore) I would dominate
that market like nobodies business, except My Own Ltd.

Level 2/TA era still poisoned with fundamentals and trading errors

This part links to a series of posts I made beginning with me just learning about technical analysis. At this point I was trading UK stocks on a swing basis, but still favoured fundamental approaches to my stock picking rather than purely TA. This period lasted about 6 weeks as I developed the new skills and there was a good mix of wins and losses. After that and to the back section of this post I got quite good at making calls based on technical analysis and my trading picked up.

This era also saw the start of my weekly Crystal Balling and Roundup posts and also the introduction of some sort of risk management to my trading. At around this point I began to lower my risk tolerance after some heavy blows at the start of my career.

Towards the end of this I had my first big win trading SOLA. After that (and in the next section) I went on a nice run of swing trades in a series of stocks I don’t care about any more.

—–

“I do like TA but I just think it has to back it up with either strong balance sheets, good products, contract wins or a booming sector” Not anymore, I don’t even care what the name of the company is lol.

http://thestudentloanranger.blogspot.com/2008/04/t.html first post about TA – BLVN was a blatant bearish wedge in retrospect.

“I watched quite a lot of videos last night on technical analysis – mostly from informedtrades.com and alphatrades.net. They were very interesting and insightful, and at the moment I’m a little shocked at my earlier trading tactics” NOW we’re talking! I remember this period, and was puzzled at why it took me so long to find technical analysis. I got really into it about here.

http://thestudentloanranger.blogspot.com/2008/04/down-like-clown.html The start of what would then become “crystal balling”

http://thestudentloanranger.blogspot.com/2008/04/house-rules.html developed first set of trading rules but also features a potential dangerous love affair with CFDs. I can’t really remember if I stuck to these rules or not. I think I cut my loss on SEO around this point.

http://thestudentloanranger.blogspot.com/2008/04/crystal-balling-april-14th-18th.html first official crystal balling post featured TATA, BGC, LONM.

http://thestudentloanranger.blogspot.com/2008/04/afternoon-nap.html first intra-day action post with an early indication I was wearing thin of trading the uk market

http://thestudentloanranger.blogspot.com/2008/04/disciplinary.html first post realising the mental demands of trading, in particular discipline and insight into overtrading. This was a bit of a wake up call.

http://thestudentloanranger.blogspot.com/2008/04/fridays-bell-end-of-week.html Applying TA to some stocks, but clearly lacking the skills and knowledge about risk:reward, entry and exit, measured moves, volume analysis, sector analysis. I hadn’t learned enough about the game to be making the kind of trades I was calling.

http://thestudentloanranger.blogspot.com/2008/04/weekly-round-up.html first weekly roundup post and beginning of excel programming relationship. http://4.bp.blogspot.com/_VUtY-2LMgqY/SAneb2-16uI/AAAAAAAAAFI/BhPvyd41SII/s1600-h/port.bmp not bad for week one really.

Funniest part of that post “BKG is a strong buy for me at the moment, nuff said” The chart imploded and crashed a few days later.

http://thestudentloanranger.blogspot.com/2008/04/crystal-balling-21st-to-25th-april.html stellar call on AAL. Amazingly accurate on BP too. The very first glimpse of risk management with the statement “but I would use some very very tight stops at about 457 just in case it doesn’t want to reverse”. I should have looked into this sentence a lot more carefully, it’s simple but says so much about risk management.

http://thestudentloanranger.blogspot.com/2008/04/weekly-round-up_26.html ridiculously prophetic calls on bottoming price levels of NG. and ADM. Beginning to become very consistant at calling trade entries and TA.

http://thestudentloanranger.blogspot.com/2008/04/crystal-balling-april-28th-may-2nd.html for the first time, crystal balling includes specific details on the trade entries, with target prices. However, at this time stops were not included.

http://thestudentloanranger.blogspot.com/2008/04/midweek-wrap_30.html Anti Britian and the change in perception towards the UK market is confirmed in this post. I still believe every part of this rant.

http://thestudentloanranger.blogspot.com/2008/05/pattern-spotting.html me excelling at TA and developing new ideas. This pattern was pretty predominant for a while, though I haven’t seen it lately. I am unaware if this pattern exists in any textbook or is well known.

http://thestudentloanranger.blogspot.com/2008/05/crystal-balling-may-6th-may-9th.html crystal balling finally features stop loss limits. All analysis on this post was superb, with all targets hit. WTN was one of the biggest moves I ever anticipated, moving nearly 140% in the next 2 weeks.

http://thestudentloanranger.blogspot.com/2008/05/crystal-balling-may-12th-may-17th.html i am beginning to incorporate measured moves into my stock analysis. This post really shows the start of my love affair with SOLA, the best stock ever! Looking back I was really beginning to get great at TA, however it was mostly due to the charts at the time. Swing trading TA is significantly harder these days, given that most charts look like Victoria falls dropping into a sea of blood.

http://2.bp.blogspot.com/_VUtY-2LMgqY/SCmGhm7cYiI/AAAAAAAAAJ4/O2nvVH0iUjU/s400/sola.gif Is this not laughable? This is the standard of charting you can expect to find in the UK. No interaction, no adjusting timescale, no dealing from charts, no indicators or studies. I used to pay £20 a month for this garbage! Now I get a service about 100 times better for nothing!

From time to time I notice I get visitors coming to my blog from google, having searched for “ADVFN versus QuoteStream”. If you have c
ome here after typing that and have come across this post; here is my advice: Do not sign up for Quotestream or ADVFN – both are utter garbage and a complete waste of time. Do not trade the UK markets full stop. Spent some time learning TA, get some money together (>£3500) and open a US broker account with ‘Interactive Brokers’ or ‘Think or Swim’. You get this information for free and trust me, it’s at least 100 times better.

http://thestudentloanranger.blogspot.com/2008/05/intra-day-action.html perfect trading of SOLA and my first big win.

This is part 1 of a year in the life of a beginner trader. Look for updates every week until TSLR celebrates a year at the helm of this blog. This is just too funny, I can’t believe how stupid I was when I started doing this..

I can do nothing here but cut and paste a section of my first post. Anything highlighted, in bold or in large text represents a ridiculous statement that makes me cringe. This period lasted about 4-5 weeks and I lost a significant amount on just 2 trades. My first trade was a winner though!

“Have you read the report man!?” TSLRs Fundamental Analysis Era.

“Trade 1
Severfield-rowen UK
Absolute rock solid fundamentals, and just had a huge crash for no real reason except profits are a slight below expectations. Decent dividends too but haven’t decided on whether to keep going on that. I bought 315 shares at 2.932. I was going to buy at 2.652 but my broker account wasn’t open boo hoo etc

That red dot is where I got in. My target price for a £100 profit is 330p, but with it’s current momentum and rises despite small volumes, I expect this stock to see little to no resistance until the 400p mark, when it hits 400 I will make £321 (34%) profit. However the timeline for this could be long and I have some exciting prospects on my watchlist such as Coal of Africa, Desire Petroleum and Rift Oil. This share was a great value buy and it could go back up to 500 longer term for £636 profit, but holding too long isn’t what I want with the bulk of my loan.

I purchased 115 shares in The Royal Bank of Scotland at 400p. Reasons being that this is one hell of a company. They’re about to announce record profits, Qatari investment rumours and a decent dividend date in the not too distant future. The banking sector took a huge kick in the nuts, well, the whole FTSE took a huge kick in the nuts in Jan so this was a great opporchancity to snap up a solid company with good ratios on the cheap.

It was on my watch list with SFR and BARC for my first pick but opted for SFR looking for money gain over percentage which sounds crazy but hey. I intend to hold this long long term so don’t expect much news on this. Anyway my target for this is 550p for £164 profit within the year, but I may hold until I’m an old man. My SFR money etc is for the real gains.”

“RBS on the other hand announced £10 billion profits up 10% on last year and a sizable dividend increase – but it closed down -1.26%. Funny old world. “ The earliest sign the banking sector was in serious trouble.

“US markets down again on Friedegg so some pessimism surrounding the opening bell on Monday, particularly for RBS. That’s the general consensus, but in my opinion RBS will bounce back up over 4. I hope. Either that or it will find support at 360. But hey, ex-div on Wednesday so that’ll be £25 into the profits for the year.”
If the market was bearish and RBS looked bad, then why did I keep holding it? Also I was exposing myself to 40p downside for 10p upside. That dividend was worth SFA!

“I’m expecting SFR to really rally this next week. I am extremely tempted to sell out at my original target of 330p, but targets are for losers. “
This remains possibly the dumbest thing I have ever said in my life.

http://thestudentloanranger.blogspot.com/2008/03/media-and-market.html
Why did I not see the global financial crisis while writing this post!?

“SFR is a bee-in-bonnet scenario. It just climbs all day, hits 315 then closes at just over 304.”
Somehow I did not realise that this concept was support and resistance.

http://thestudentloanranger.blogspot.com/2008/03/road-to-recovery.html

Beginning to question the trades i’ve made, but remain in love with first big loser SEO

“SEOs results were out on Friday – no positive movement on the share price though – it’s gone down quite a bit. However, looking at the final years results and the interims from last year, their position has significantly changed for the better and it looks like a solid long term investment “
Th
is is the classic beginner mistake, initially a short term trade, SEO is now part of my “long term strategy”. OMG I was bad.

“Excellent surges on Wednesday and Thursday (18%/22%). At it’s peak it kissed .9 which represented a decent opportunity to get out for a loss of around £300 – half of what is was on Tuesday.”
This is about the SEO trade, gaining 50% on a position that is already a monster loss is an absolute god send. Why did I not take this!?

Chart evidence

There are too many lessons in this portion of text to digest in one paragraph. I don’t even know where to start so I won’t even bother. But anyone who has ever traded will know exactly what I mean!

Next week: L2 TA III era.