Once In Awhile

From: EA <e1@yahoo.com>
To: Austin Passamonte <austinp@coiledmarkets.com>
Sent: Thursday, June 8, 2017 5:18 PM
Subject: The Truth Is

Hey Austin,

It’s been a long time.  Yes, I am still a trader.  I like your blog … “The Truth Is”.  Actually the truth is … you’re probably the only one out there willing to tell the truth.  There are exceptional days to trade.  The problem … I don’t know when.  And worse, if a trader wants to sit around and try to “wait it out” they will blow up their account or go crazy (probably both).

I have been at this for 17 years.  I have had 2 good years with the CL.  They came and went.  I am lucky to have support for my trading and an account that is still intact.  The CL had a 2 point range yesterday (which will get a lot of traders thinking the next inventory report MUST be a good time to trade).  Today it contracted to .80 or so.  Good luck with that.

I don’t know how many traders pick up on the finer details of your blog, but your thoughts about consistency are spot on.  It is the problem…PERIOD.

I once was a reader of magazines, books, Elite trader, Big Mikes etc.  Now … Coiled Markets and price on my charts … nothing else.  Keep the blog going … I love to read it. [E]


From: “j@mindspring.com”
To: austinp@coiledmarkets.com
Sent: Friday, June 9, 2017 3:14 PM
Subject: CM-Team Comment

Hi Austin,

I’m simply checking in with my regular bi-monthly THANK YOU note to you for all of your hard work that you put in developing over the years and teaching your CM Strategies.  Thank you.  Your CM Strategies are without equal; far and away significantly above any other available.  Anyone who is unwilling to learn from you is simply a very silly aspiring trader. Thanks again. Hope everything is well for you and yours. Have a great and safe weekend. Best regards, [J]

Friday’s ES pit session was one of those recent “outlier”days. Price behaved technically sound as first the CM-RoadMap 233% up was hit to nearly the exact high tick, followed by volatile downside spills that hit each CM-RoadMap profile zone lower including the trend-ender 780% level.

Notice how price responded at each & every CM-RM level? That’s how normal price action behaves at these intraday profile marks.

But unfortunately, that was merely one out of five sessions for the week. Prior four days were nothing but a range-bound, chopped-up mess.

… which describes CL for once again four of five sessions last week. No range, no trend, no direction. Just whips, spikes and back-chop against every single directional spurt.

Can If You Like
Now I’m not saying all trading is 100% impossible across the board. I am saying that current market conditions offer nothing of any interest at all to me. No interest in trying to trade illiquid commodity symbols. No interest in trying to tick-bang the ES overnight or pit session for three-tick scalps. That’s not even possible without at least having a seat lease on the CME for rock-bottom trade costs. At-home traders paying +/-$4 turn cannot profitably scalp anything after actual trade costs deducted from “results”.

I don’t want to trade stocks, don’t want to trade options, don’t want to hold positions for days or weeks at a time during dead-drift conditions. Nothing exists right now that’s of trading interest to me personally, plain and simple. I’m not compelled to trade, I don’t feel the need to trade and I’m certainly not “addicted” to markets or trading. I could step right back into the action tomorrow or never place another trade and no difference to me either way.

Future market behavior/action in the big futures markets will dictate my future trading plans. For now I see all markets still on summer vacation, four days out of five on average. When three or four days each & every week mirror Friday’s stock market session, it’ll be game on once more 🙂

See You Inside

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