ADVICE FROM A HALF-CENTURY FUTURES MARKET TRADER
Is your desire to trade futures for a living? Here are XX things you must understand to make it
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Thread to follow ⬇️⬇️🧵🧵 1. Have realistic expectations on success. The world's best traders achieve 40% annual RORs. Aspiring traders who think 10X is possible every year will become rekt - this has my guarantee

B I T C O I N $BTC
There are numerous ways to determine targets. One variable is whether semi-log or linear scale is used
Target of 94,000 is measured move of triangle projected from breakout level on semi-log
⬇️ 🧵 1/3 A swing target can also be determined by projecting the Nov 2022 low to Mar 2024 high upwards from Aug 2024 low as shown also on log scale
For now I think this is a stretch
My rule is one target at a time
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The most interesting chart developments I see right now
See thread
#1
$ETH closing price chart inverted H&S pattern
I am flat in ETH #2
Bitcoin/Gold ratio $BTC / $GC_F
Massive continuation inverted H&S on weekly chart
I am long Gold futures and $GLD

Reflections of a 50-year Commodity Trader
I refer to raw material commodities as "popcorn" markets. The kernel pops, hits the lid and returns down immediately.
Commodity prices return to the "production cost" of the most efficient producer
Red line is current price
Cotton $CT_F Natural Gas $NG_F