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Trader Brian Jones
@MasterBJones
We waited for "confirmation" from the System which is to go long the S&P when the s&p broke over the 50 sma and we got just that, Then it extended big time on Tuesday. Now we know that on Wednesday the new $ will be finished and the market will top.
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Trader Brian Jones
@MasterBJones
Let's go over how we used the System to make all our winning s&p trades this week. Let's start with Monday, We knew it was possible that the new Auto $ could propel the market higher from that massive 9% drop in September. We were waiting for confirmation.
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MM
@fiendo28
Replying to
@MasterBJones
As a smaller account trader, few things I learned was the risk of overnights. 28 to 29 massive drop after the signal to be long. I remember you mentioned how steep the 50SMA was still and to be cautious. Good lessons learned. Got faked out on the 30th but cut longs quick intraday
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MM
@fiendo28
Replying to
@MasterBJones
Monday night held one, but sold at open. On Friday had a put from day before and also sold at open. Need to reflect why I sold at open vs letting it run a little knowing where the SMA’s are
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