 The following is a presentation of TFNN. Trade what you see with Larry Pezzavento. All now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Okay, looking good, Billy Ray feeling good, Lewis. I posted a chart or a little couple of paragraphs here from a book called The Golf is Not a Perfect Game. It's from Rich Anderson. And the reason why I brought it up, it talks about, you know, basically it's the person that plays golf that makes the fewest mistakes. It's the same thing in trading. You wanna make as few mistakes as possible. It's not the amount of money that you win. It's the amount of money that you don't lose. You don't wanna get caught in always, you know, shooting from the, what do they call those things? The, not the fairway, but the things behind it. I don't know, I'm not a very good golfer. I actually am a good golfer. I'm a two handicapper. I have a trouble with the long game, the short game and the mental game. Let's move on here to just a little bit about this losers game stuff. Tom Hougard wrote an article called The Best Loser Wins. Oh my gosh, about a year ago. And it's probably the best article I have read in a long time. Those of you that have not seen that article, if you drop me an email larrypesevento at gmail.com, I'll send it on to you because it's really, really good. It's just a tremendous article talking about, you know, why you have to always work on the defensive and be worried about, you know, where your, see your trade starts once you put the order in because then you have to manage it. So that's a good thing. But if you do want that, well, you know what I'll do today, you know, I think I could post this into the room, I guess at the break, that's what I'll do. I'll post the article into the room and then you'll have it there. Those of you that are not in the room that are listening and you'd like to have it, just email me larrypesevento at gmail.com, include the $500 check and I will get it out to you just as soon as possible. Well, okay, you can forego the check. Speaking of Tom Hougard, I wanted to show you something that he was working on today on his, in his telegraph room. I want to get this up here to show you people we're talking about, you know, pattern recognition and let's get up here. Yeah, Mr. Z, you're in a class by yourself, Bubba, that's for sure. Let's take a look here. This is a chart he was looking at. You see how he, on the first bottom down there, there was absolutely no reason to think that could be a major bottom. But look, the second time he came down, you had a double bottom. So that's an effective pattern and that's exactly what you want to be looking for. Find the little edge that works for you. That's basically the bottom line of what we're watching. Tomorrow we're going to have Stan Harley as our guest. Remember we had Tim Boss on Monday, which was yesterday. Boy, that's a big mathematical improvement, isn't it? Anyway, Tim said that he thought the market was getting ready to go turn around here. Either today, I think today was the last day. This is the 23rd or 24th. Tomorrow's the anniversary of the big top in 1987, which led to the largest down day in the history of the stock market. We were down 16%, 500 at some points on October 19th. The next day we made us lower low by just a few ticks. It was the major bottom of that decade, exactly at 61.8% of the low from August of 1982. And we have been going up ever since and we have continued to go up ever since. Now, let's take a look at a couple of charts that we're following very, very closely. First of all, we had a very strong buy signal in corn the other day. I wanted to bring this up here and show you where we were. We went right down to that level. We took out the lows of July, just like we thought we would by just about a penny. The buy was at 5.30. We're now 15 cents higher in the corn. So hang on, we're looking for at least 30 cents in that. So it's got to get up to around that 5.60 level before we want to take profits. What we're doing now is we're managing our risk. We've got it lined up, so we don't have to risk very much at all. Now, here is one from yesterday that we were looking at very, very closely. We focused on it in the video over the weekend and we'll be able to see that. You folks that have never studied the black market of October 19th, 1987, you probably should. Here is the crude oil chart. Made a perfect ABCD down there at 6205. The low was 61.86. And today we've had a very, very strong rally. In fact, what we were doing here is we were taking profits in this because it came up a little too fast. It might go a lot higher, folks, but we went up to the 382 retracement there at 67.42. We were expecting to take the profits in that crude oil because that's a big move, folks. Six grand in two days. You just don't see that very often. Might be getting out of it too soon, but you got to go to the... You got to dance with the girl that brings you to the dance and that 382 has brought us to a lot of dances and we certainly want to keep that going. Another one that looks really good, still working well, is the silver. We'll take a look here. We had that 61% retracement down there at the 2290. We're now trading up around 2390 and a little bit more to the upside. If we can get it above 24, we'll be looking at around $25 an ounce or 2480, something like that. Gold's taken out the 78% level at 812. That's just going sideways right now. It's very strange in gold to see a market that does this. Let's get this up here. Well, I don't have the gold. I have to do that one a little bit later. Sorry, boys and girls. Anyway, that's another one. We're looking at the euros working relatively well. So if you're in that one, put your stop at break even. So you have the corn euro, the corn euro, silver and corn. Corn, euro and silver, the crude oil is gone. We've taken profits in the crude oil. Now let's take a look here at Apple. We talked about this yesterday because I wanted to bring it up to your attention. Here is Apple on the half hour chart. Now you'll notice up there, the 78% level, the ABCD is up around 150. The high today I believe was 150.15. That's what it was earlier. I don't know what it was. The last I saw, it was trading under 150, around 149 and change. So there's a place where you have a really good place to handle your risk there because if it gets much above that 78% level, it tells you, and I mean by just a dollar. So it should be the high the day and Apple should be no higher than one. Just gonna do it. 150, I was gonna say 150.60. And Danny just told us the high was 150.86. And I believe the last price was 149 and change. I'm not exactly sure what that is, but that's all about focusing on the risk folks. That's the whole thing of looking at the patterns. They're for risk control, no more, no less. 149.87, so that's about right on the Apple. Any move above 151 now will tell you that Apple's gonna go up and make another new high and we could continue going higher for quite some time. That's the main thing that we wanna be looking at. When we come to the break, I wanna review some of the things that I learned from Mark Douglas when he was writing the book Trading in the Zone here in my office during 1996, 97, and 98. And I think that you'll enjoy some of these. So we've covered them before, but they're worth covering them again. The reason why I'm doing that is I had a gentleman called yesterday that was a fan of Mark. He didn't know that Mark had passed away five years ago, but he said, gee, that guy was really smart. And I said, yeah, I know he is because he sat there and worked with me for three years and I watched it firsthand. And he started out wanting to be a trader. He hasn't really traded yet. And believe it or not, he started with a disciplined trader and trading in the zone. I said, you got a good start here, Bubba. We'll be right back. 877-927-6648. Markets can rise and fall like the tides. Subscribe to Basel Chapman's newsletter, the opening call. And you too can ride the wave. Basel Chapman is an authority in technical analysis. His Chapman Wave trading system has been helping traders identify trends and capitalize on momentum in the markets. Since 1980, he's been a trader for a long time. He's been a trader for a long time. He's been a trader for a long time. He's been a trader for a long time in the markets since 1984. TFNN invites you to test Basel's proprietary Chapman Wave trading methodology with a monthly subscription to the opening call newsletter for only $149. 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At TFNN, you'll get advice and guidance from the authority and technical market analysis, and it's not just dry, tedious text either. TFNN airs live financial content streamed live on tfnn.com and TFNN's YouTube channel with Tiger TV, live every market day from 8.30 a.m. to 4.00 p.m. Eastern. For free! Each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world. From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at tfnn.com or on TFNN's YouTube channel and become the investor you were born to be, TFNN. Educating investors. Call now. Toll free at 1-877-927-6648 internationally at 727-873-7618. Okay, we're back folks. I posted the chart of the E-mini S&P here going back to Friday the 19th, Thursday the 19th. If you notice here, we had that really nice A-B-C-D pattern finishing on Friday up there at 4.40. We stayed there. Well, this is an hourly chart, so we stayed there for about three hours into the close. Sunday night, you'll notice that was the 22nd. We started to go higher and I sent a video out saying if we get much above 44-46, I said this thing is probably going to make a new high. The only reason I said that was because it was clearing the 61% retracement and it had no way of knowing what high was going to be. But if you did the 1.6-8 expansion, that was at least going to take you to 44-70. We got to 44-93 last night. That was because China came out right before the opening in Hong Kong and said something about their lightening up a little bit on the Chinese stocks and stuff, whatever the comment was, I don't know. But it caused the market to jump up quite a bit in Hong Kong and then also quite a bit in China, and that's when we had the 10-handle run in the A-mini from 44-43 to 43-93. That's how we did it. This was all brought on, folks, by what was happening on Friday in the Hang Seng Index. I want to bring this up. You'll notice here on Friday, we've talked about this before. I sent a video out about it, but you'll notice we got down to 24,600 on Friday, but we closed at 24,850. We rallied 250 points in the last hour. Folks, bear markets do not act like that. That was telling you to be careful because that could be a false breakout to the downside and we've got all the way up to 26,000 already in just a couple of days. So we rallied 1,200 points in the Hang Seng and the Chinese market has rallied too and we've been tagging along because these markets, everybody that's in these markets are watching what's going on and that's what happens. These algorithmic traders come in and you just can't stand in front of it. But let's take a look at something that we always like and that's Mark's favorite pattern of all. AB equals CD. AB equals CD. That's all you need. That's all we always used to say. Taken here is Dow Jones industrial average. This is the average, not the E-mini. I want you to go back to the 21st of June. You'll see we had an A point there. The B point on the 16th of July, the 19th of July we had a 78% retracement. Then we had an ABCD pattern measuring to 35,561. The high on the Dow Jones industrial index so far has been 35,612. I don't know how you can make this up, folks, because that's pretty good. Now, we had a sharp down move to the 50% retracement. That was on Thursday. Then we had the rally up yesterday and it went right up to the 78% retracement. Just spot on and now that means that we have a possible divergence here because the others went into new high ground but the Dow Jones didn't. Remember, this is a market of stocks. When you're dealing with the Dow Jones, you're dealing with about 15 of the 30 stocks. The rest of them are too low priced. The NASDAQ, of course, out of 100, you're looking at about 15 or 20. And the S&P 500, you're probably looking at about 40 or 50. So you figure there's about 100 stocks out there that are running the other 8,000. That's why you've got to be extremely careful, folks. It's a market of stocks and a stock market. You have to define what you're looking at as you're watching these things unfold. But if you'll look at that Dow Jones chart for just a minute, let's just look what ABCD means. Not only do we have the ABCD leg matching perfectly in price, if you'll defy human nature and do the work yourself, count the number of bars in the ABC leg and then take it a step farther and count the number of bars in the CD leg. Voila! It's the same number. That means price and time are coming together. This is what Mr. Gann talked about when he talked about squaring price and time. So let's keep in mind that that's what we're looking at right here. Someone's asked the question, do I think gold has made a major bottom? I don't think there's any question about it, folks. We went from 1675. We've rallied over $100 an ounce now. We're about $140 an ounce. That tells us that something has certainly happened. We happen to be long and silver. That's still acting okay. I think there has been a pretty big low made there in the silver market. That's my two cents' worth. I hope that understands what we're looking at for today. But that's the main thing of watching this. When you see that perfect ABCD structure, you have to pay attention to it. Not only that, you don't even have to pick a top. You could sell the retracement back because it's taken three days to make a 78% retracement. So we're going to know here today or two whether this is going to be correct or not. Just like we were looking at Apple, we're assuming that these patterns are going to be working about 60%, 65%, let's call it 61% of the time. And the other part of the time, you're going to have a couple of break-evens and a couple of losses. That's what you want to be watching for sure. So that's what we're paying attention to here as we look at these today. When we come up to the break, I'm going to be talking about the four major fears that everybody in the room has been posting already. Fear of missing out, fear of being wrong, fear of losing money, and the fear of leaving money on the table. Folks, every one of those darn things, you better get used to because they are the essence of why we trade. And there are no reason to be afraid of them. Fear means false evidence appearing real. That was from Mr. Anthony Robbins, and I still believe that he had it spot-on as we were looking at. Someone's asked a question about the crude oil. I've got this up here. I want to be the question was, why get out of the crude oil when it's acting so strong? Like I just said, the reason was we completed the ABCD. We had the 382 retracement up here at 6750. I don't know what the high was today, but 6750 was the 382 of that whole move. And that tells us that we want to be able to at least book some big profits. That's a big profit, folks. However, if you went back into July and bought that low at the 78% level, it moved $9,000 before it turned down. Now, maybe this is going to be one of those, but if it is, what I'll be watching for is I'll go down to a 15-minute chart or half-hour chart, and I'll look for a pullback if I get one. If I don't get one, I have to be happy with what I have. I move on, start focusing on the euro, start focusing on the corn, start focusing on the other trade that we have. So we have silver corn and what was the other one? Silver corn and the euro. Those are the ones that we want to be watching. So that's pretty much how I try to handle things. And this is unusual because we had four trades on. And so we're lightening up today and seeing what's going on to what is moving on. Okay, we're going to have a break here pretty soon. Someone's asked a question about Apple again. I'll bring the Apple chart up. It's the one I did late last night because I, yesterday, because I assumed that we were, hold on one second. Shut the front door and raise your hand. Let's get this up here again. I was assuming that ABCD completed up there at about one, just about 150, but the 78% level was a little higher. That's why I wanted to see it. Now, it got all the way up to 5080, 15080, which is about 80 cents higher than the 78% level, but it immediately came down. It just didn't stay long above that. That validates that 78% level. But now above 151, you don't want to be short Apple. That's for sure. Let's take a break here. 877-927-6648. 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Get your copy of The Art of Timing the Trade Shards today by visiting TFNN.com Just click the Think or Swim banner on the front page of TFNN.com Okay, folks, I want to go over some of the things that I've learned from Mark Douglas over the years. I mean, I've learned them firsthand. I met him in 83 in a compitrack seminar in Las Vegas, and I think I've mentioned this before, but I was talking to him and Larry Williams was standing there. He was giving a speech at that compitrack and I was still a member at the Merck and I came out to Las Vegas with Byron so we could have a little bit of fun playing some poker and listening to a couple of lectures and stuff. And I told Mark I was interested in listening to his lecture and he said, you don't want to hear me. And I said, why? He said, I want you to go into that lecture over there. He said, spend your time over there. So I didn't know what it was. I went over and it was John Bradford. He was a motivational speaker and his specialty I guess was abuse. And so I go into a room and there's about 200 people in the room. 90% of them were women. There were only about 5 or 10% of the people were men and I said, oh, dear, what am I going to do? I saw boxes of Kleenex everywhere. Anyway, I said through the first half of the day, it cost me 100 bucks. I said through the first half of it and it was so intense that man, I tell you, I didn't realize how lucky I was. These people really had some serious problems. When I got back, I asked him, I said, why did you send me there? He said, for two reasons. One is, is you don't realize how lucky you are at times. And I said, yeah, I always feel that way. And he said, well, just remember it. Not everybody is as lucky as you are. So you have to remember that and be thankful for it. And I certainly was later on, two years later when I met Anthony Robbins, you know, I got there the quote, live every day in an attitude of gratitude and which I certainly do. And I have been blessed and I do try to pass it on. But after I had this meeting with Mark, actually he was getting married that weekend too. He and Paula got married and so I attended the wedding and then later on when we went back to Chicago, we started hanging out. And what he had been, he had been with Merrill Lynch for a while and Merrill Lynch had given him the accounts of over 10,000 people to study what they had done wrong. And so he had done a huge amount of work. I mean statistically looked at every single group of traders, the size of the account, how long they've been trading, all that kind of stuff. And basically it came out to the point that about 80% of new traders will lose money. Now, those that stick with it over a period of time, whether it's two years, three years, five years or whatever it is, they'll eventually stop making the mistakes that got them into trouble and they will be profitable. Many people, they try it for a while and they just never come back but a lot of people do and that's happened to be one of those and so was Mr. Z and so was David and so was Basil and so was the two Tommies. I mean everybody's done this so that's what it was all about is learning what you had done wrong. He had found out that the key reason why people lost in these Merrill Lynch accounts was the two reasons, they're the same reason, it's really strange. First of all they used two tie to stops, that was the main reason. The second group that lost didn't use stops at all. It was all related to the risk that they were taking. They didn't know what the risk was and that's the whole thing is to focus on the amount of risk that you're taking because you don't know which ones are going to work. Nobody knows that so that was the real key for me. I mean, look at all these statistics. I said so many of these people lose because they don't put stops in and the other people lose because they do put stops in. So you've got to find a place where you can figure out what you're looking at. Now this led to when he was writing the book, The Disciplinator it led to the major fears, the four major fears. The fear of being wrong the fear of losing money the fear of missing out and the fear of leaving money on the table. Now Mark interviewed probably over the three years that he wrote that book here. He interviewed at least 35 or 40 really big time traders that came here to be interviewed by Tom or by Mark and so he would invite him out here and we would spend a couple days and interviewing and trading and stuff and he would get a few feedback and believe it or not the number one thing that these super these guys are really many of them are quite famous. What they did was really really amazing of those four fears I was shocked when I figured it out what they said and there was almost to the man their biggest fear was leaving money on the table and to me that was a real surprise because the only way you can't leave money on the table is if you get the high tick or the low tick so stop and think about that. That is really serious. I mean silly because the fear of leaving money on the table means that if you don't get the high tick or the low tick you're going to leave money on the table and that's normal that's like breathing so scratch that one off the list the second one is the fear of missing out that's no big deal there's always another bus coming down the road you can always find another trade or another entry that's a fear that you don't have to worry about the fear of losing money boy get used to that one because that's what this is all about remember Warren Buffett's two rules rule number one don't lose any money rule number two break rule number one well you've got to take a risk somewhere along the line so that's really what you want to be doing this is the one that I thought was going to be the most prevalent fear and it certainly wasn't and that is the fear of being wrong and you shouldn't be afraid of that because you're going to be wrong some of the time you're going to be right some of the time one of my favorite baseball stories is Joe DiMaggio they always talk about who is the greatest hitter Ted Williams batting 400 and stuff like that but if you look at the statistics behind DiMaggio it's really quite amazing he played for 14 years for the Yankees and he struck out I believe he struck out in the 14 years I think he struck out 396 times as I remember it's very close to that just right under 400 and during that 14 years he hit 396 home runs for every time he struck out he hit a home run another time at bat maybe two days later maybe the next bat I don't know but they were equal one to one stop and think of Babe Ruth folks Babe Ruth was nine strikeouts to one home run the great Willie Mays was one strikeout to six home one home run to six strikeouts Henry Aaron same thing one home run to six strikeouts so that's how that's how good DiMaggio was he had a hitting streak of 56 games that has never been broken the closest ever to it was Pete Rose a few years ago well 27 years ago he got to game number 47 but what people don't realize about DiMaggio on that 57th game he was in Boston and he hit three 400 foot line drives into the outfield that were caught for outs and that was that was it however if you follow the statistics on that he hit in another 17 games in a row that would have been 70 games in a row that he had a hit so that's why he was such a great hitter and I know there's a lot of people argue about you know but those statistics you can't find statistics like that and we're in a statistic business so let's pay attention to it you know to what we're watching is the other thing that Mark would talk about with these traders is how they treated themselves I mean they of course they bought them all they all had little trinkets they all had their Ferraris and Rolexes whatever it was but they really pampered themselves you know they would take time off they would go for psychological counseling some people had you know later on I found out that Mark had some of these guys were regular patients of his and he wasn't a registered psychologist he was a trading psychologist so he spent all of his time you know on that so we'll be right back to you next time let's make the most informed decisions across all price levels from the price you should be paying per square foot in certain up and coming areas to the type of cash flow investment properties are capable of creating Tiger Real Estate can help you make the best decision when it comes to all areas of the market before you make one of the biggest decisions of your financial future call Tiger Real Estate LLC today at 727-329-8322 or email us at tiger at 727-329-8322 call us today prices target prices and stops to set for each trade Dave delivers his weekly newsletters every Friday with updates throughout the week you can get the technology insider at tfnn.com for only $37.50 sign up for David's newsletter the technology insider and get an inside look at everything the technology sector has to offer try at risk free today with our 30-day money back guarantee tfnn educating investors Are China A shares hot or not? 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Tiger TV okay we're back and I believe we have a lucky caller I don't know how he got through Mike are you there yeah it was really tough getting in Larry with all the calls ahead of me I don't know when you must have preferential treatment because Al said he didn't know how you could squeeze in but what can I do for you my friend Larry I heard you a little while ago talking about stops and I want to tell you something about myself I'm very good at when to enter stock and I'm pretty good at where to put a sell signal but that in between what I do is I'll get into most of the time I've been trading intraday like on a 10 and 15 minute chart and then I might use like a five minute to fine tune my entrance and exit but my worst subject is stop placement there's so many times when it actually has saved me because I'll get into a stock and I'll have my plan in place where I want to get out and I always use OCO orders if I get into something immediately I put my if I'm long I put my sell limit and then I put my stop in so that they're in at the same time but what happens a lot of times I get stopped out you had Joe DiNapoli on your show a while back and he was even pointing out that there's so many new algorithms out there that can seek stops and hit them and so anyway I was wondering if you could give us all some good lessons on stop placements I can tell you within about a Nats patootie of what's wrong whether you do anything about it or not it's going to be up to you but my guess is you've already outlined that you've got a good trading plan set up you said exit entry stop loss everything is done what's happening my best guess is Mike you're looking at the market too much and what happens is you're looking at the market and you're you know you have a $3 profit and something you've given back a dollar and a half and then you start to move your stop a little bit you change your game plan in the middle of the road and that's you don't want to do that just just put your game plan in and the one thing that I highly recommend for anybody that trades if you're trading the Euro go look at live hogs or something don't look at the Euro because no one cares whether you're looking at the Euro or not and you watch the prices go up and then you watch the prices go down and that's what affects your trading and you're thinking because once money gets involved in the situation you're in big trouble and that's my guess I don't know if I'm right or not but if I've heard Mike give that discussion more than once so my guess is you're just looking at the market a little too much during the day and that's what's causing you to look at if you put a 30 minute chart out there on the stock that you're doing keep it on 30 minutes don't go down to a 5 minute or 15 minute you've done a good job setting your plan out just follow your plan that's all you have to do is don't look at that monitor is not your friend it's a psychological indication of everything that's going on in your life so don't watch it just go watch something else if you're in the stock go watch live hogs or natural gas or something just don't watch what you're looking at because no one's watching it for you so just forget about it and follow your plan that's what I would suggest you do alright I'll try to implement some of what you just said but like I said a lot of times sometimes I'll have the plan in place I'll get a really good entry and I'll do the projections of where I want my sell limit to be if I'm long and then what I usually do is I'll come back and periodically I will move the stock up and a lot of times it's helped me to capture profits because there's been times where I look at something and have the best plan in the world out there and it never hits my sell limit it might only get about half or three quarters of the way up and then reverse and then if I didn't have a tight stop then it would have given it all back but sometimes when I have a tight stop it helps me to capture some profits but I will try to implement just focusing on the chart that I set the plan up with to begin with and leave it at that let me give you one other little tidbit of advice don't be hard on yourself Mike you can't be perfect all those four fears you're going to run into those every day so if it happens shake it off get in the batter's and get ready to see another picture come up because you don't have to worry about that just go to the next one just don't beat yourself up second guessing because second guessing is exactly what it is second and it's guessing so don't do that either and that's the way I'm set up I have a professional trading account where I can day trade I can get in and out as many times as I want to and I don't have to get married to a particular stocks so and what I try to do is I narrow it down to like maybe four or five stocks that I focus on and I know that some people they have so many they miss the opportunities and everything but so anyway yeah I'll try to implement what you just told me and see if that helps me out well good first of all you got a lucky streak going because you were one of the few people to get through today there you go you're halfway home alright and I did make some profits today so I was in one it was symbol LPI so it was a great day and it's always good talking to you because you teach us so much Larry you've got all these years of experience and I love listening to your show you have great guests on Tim Boss and when do you think you'll have Joe DiNapoleon again he's uh he's recovering from some surgery as soon as he's feeling better he'll be on but he's recovering from surgery but he'll be on probably in a month or so maybe alright great well thanks for everything you do and talk to you later I'll send that $20 to you today Mike as soon as I get off the air okay okay you need your special talent you want this time alright folks so let's take a look at the crude oil why we were looking at it over the weekend there were three things to tell us that the crude oil was at a pretty good bottom the first was the ABCD you noticed a three drive to a top pattern on the four hour chart that was back on July the fifth the whole world said it was going to $80 and we knew that the only way we could get the $80 was to get above $77 and it couldn't do that then we came down and the short sale was right there at $336 that was at the 786 we wrote it down to $69 in change we tried to sell the 382 rally at $69.80 you only got to $69.50 and then we completed the ABCD and this is why we were so important you'll notice here they had made a little bit lower low on Sunday night which was right at that $62 level we went below the magical $62 a barrel by 13 cents the low was I believe $62.87 and then since that time we rallied seven handles we went all the way up to $67 I don't know last I saw it was $67.50 it's probably going to go higher but you know we decided this is where we wanted to book profits today so that's what we were looking at there what we're looking at you'll notice that $67.63 up there you'll see that today that was what we were looking at for today's high that was the 382 retracement of the whole move down and with that type of a move you don't see that big a move we saw one of course it was $9,000 but frankly we're just going to take a couple bucks here we're going to take a break 877-927-6648 sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at TFNN you'll get advice and guidance from the authority in technical market analysis and it's not just dry tedious text either TFNN airs live financial content streamed live on TFNN.com and TFNN's youtube channel with Tiger TV live every market day from 8.30am to 4pm eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around 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Basil Chapman is an authority in technical analysis his Chapman wave trading system has been helping traders identify trends and capitalize on momentum in the markets since 1984 TFNN invites you to test Basil's proprietary Chapman wave trading methodology with a monthly subscription to the opening call newsletter for only $149 your subscription to the opening call comes with a 30 day money back guarantee as well as daily market updates on key indexes stocks and commodities ride the wave sign up for the opening call risk free today introducing Primal Edge today it's even more important to take a supplement to complement your health Primal Edge is specifically formulated to boost your immune system and help with weight loss, better sleep, stress reduction and the need to detox our early ancestors found all their nutritional requirements in the wild environment but today our food sources don't contain the vitamins, minerals and nutrients that we need to stay healthy and strong that's why we need Primal Edge daily nutrition it includes a special blend of ionic, soil based vitamins, minerals, fatty and amino acids in an easy to use liquid form Primal Edge is powered by highly concentrated humic and fulvic acids nature's preferred delivery system they've been called miracle molecules because like sunlight air and water without them life cannot exist that's right Ellen they ensure we receive all the nutrition we need to be healthy and thrive we take it every morning Primal Edge just $89 exclusively at TFNN.com okay folks remember we're going to have Stan Harley as our guest tomorrow I've been asked to talk about soybeans I put up a 15 minute chart on the soybeans this is what we were looking at for Sunday night we were trying to buy the beans down at $12.89 they only got down to $12.91 so we didn't get filled in there the corn was filled okay but the beans missed this by a little bit and as you can see they've had a pretty big run up completing an extended ABCD leg now probably getting up around the $13.55 level that should hopefully that's a terrible trading word anticipating maybe we'll get a little bit higher in the December corn because it's starting to move pretty nicely now you don't want that corn to go to a loss now folks because it has a 17 cent profit and you don't pick up $750 in corn too often so make sure that that doesn't go to a loss so those are just a few now Mr. Z is asking did we buy the crude oil on Sunday night the answer to that was yes I sent out a video early Sunday morning and saying you know this is where we have to be looking at it so pay attention to it Sunday night and Sunday night it opened slightly lower about 20 or 30 pips and immediately took off but you had plenty of time to put the order in I mean sometimes I know you don't on these things but we get them out to you as fast as we can but sometimes they just don't you know work the way that you think that they're going to work on I hope you enjoyed that section about Mark Douglas because I'm going to be doing more and more September coming up pretty soon this is the month we lost him it was also his birthday month he was born on the 27th of September so I'll be doing more and more psychological stuff from the things I've learned through Mark over the 30 years that I knew him because he really had a lot to give this one Mark I don't know if you folks know this but for every page that he wrote in a book he wrote those two big books discipline trader and trading in his own for every page that he wrote folks there were 10 pages of stuff behind it that's how he refined it over and over again so every word would get right down to the essence of you know what he really tried to say that's why we so good at it we'll see on the flip side tomorrow live every day in an attitude of gratitude and may God bless you