Today is one of those days. It is a day when I just have to take a mental break. Candidly, I am a bit tired and worn down. I am at one those places in life where a number of mind-stretching happenings are in confluence, all of them coming together at once.
I love what I do each day. I so enjoy getting up in the morning, doing my research, analyzing the big picture, looking at specific markets, and then figuring out what to write about in this column. Today, however, I am short on time and energy, so what I have to say will be a little housekeeping, if you will …
I often receive questions from folks asking me specific questions about specific trading software packages, or specific trading theories, such as cycles in Eliot Wave Theory. My issue with these questions is that I am broadly familiar with many trading packages, and I understand the basics of many trading theories, but I don’t know enough about any one of them to answer specific questions. Here is an example …
Ed, I have a very simple problem, I think. The problem is I am confused by the differing explanations in trading platforms. For example, using the crosshair measuring tool on an FX chart, I cannot understand the total given (0.7100 up to 0.8100 = 0.1000). So, how many pips is that total?
Here is another example …
I have learned a lot about trading, but I have not managed, and my mentor could not teach me, how to recognize the wave cycles? I use Elliott Wave Principle mostly, so if you could help me to understand this, I would appreciate it.
The examples above reflect the specificity I referenced. So, please forgive me if I have not addressed your specific questions in this column. It is not that I don’t want to; it is that I can’t …
One other thing that needs tidying up is a question I received from a reader. I have thought long and hard about the question, and I have come up with a variety of responses, but given my lack of time and energy today, I will condense my answer to just a few lines …
As a liberal, Ed, what kind of world do you want to live in?
I am a centrist, number one, and the world I want to live in is one where people take their shopping carts all the way back to the rack, where kids are respectful and polite, and where folks let other folks go first at 4-way stops. I want a world where men open doors for women and women do the same for men, where violence is not glorified, and where our public officials always act in the best interest of our citizens, cities, counties, states, and the country. Simply, I want to live in a world where people put others ahead of themselves every now and then.
Trade in the day – Invest in your life …
