David Knight -Journal

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Old Aug 31, 2017, 3:22pm   #46
 
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David Knight started this thread Covered at 2469
-16

Running +9.5
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Old Aug 31, 2017, 3:50pm   #47
 
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David Knight started this thread Hard to be bearish now. Last 2 days plus the open look impulsive, not corrective. Breadth appears to be improving, so this correction might be over.

looking for longs.
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Old Sep 1, 2017, 2:39pm   #48
 
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David Knight started this thread Lots of confusion out there. I see a lot of people getting bullish - could it be that it will be the bulls turn to get roasted next?

According to some Elliott wavers this is a typical 4th wave confusion situation. All Elliott is a confusion situation for me so I don't Know..

And when I don't know I don't trade.

PLAN

Not worth trying to over think it. A trade opportunity will present itself soon.
Flat for now.
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Old Sep 1, 2017, 3:26pm   #49
 
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I like the way you keep things tight.
You are in control.No wishing,hoping,praying etc.
Whats your occupation ?
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Old Sep 1, 2017, 4:10pm   #50
 
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David Knight started this thread 2473.85 Looks to be the low today. (and yes, it's exactly to the tick if correct)

From post#2-

'Often when a correction is over we see impulsive price moves'.

Designed to leave without you on board

I got left behind

Trading related q's only in this thread please
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Old Sep 1, 2017, 4:13pm   #51
 
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I like the way you keep things tight.
You are in control.No wishing,hoping,praying etc.
Whats your occupation ?
Thanks. Will pm you.
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Old Sep 1, 2017, 5:42pm   #52
 
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Originally Posted by David Knight View Post
2473.85 Looks to be the low today. (and yes, it's exactly to the tick if correct)

From post#2-

'Often when a correction is over we see impulsive price moves'.

Designed to leave without you on board

I got left behind

Trading related q's only in this thread please

DOW possible high today 22,023.32

SPX possible high 2,479.30

I'm skeptical though in light of the strength in adv/decl


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Old Sep 5, 2017, 3:00pm   #53
 
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David Knight started this thread Looking to buy Lower around gap fill


The high is (?) in today at 2,471.97
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Old Sep 5, 2017, 3:59pm   #54
 
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Have you ever tried scaling size to mange your your position David? Short 44 / 51 / 62, offer one or two back. Short 64 / 70 / 75 etc etc. Need to be playing more than 3 units to go that way tho really tbh. Whats the max number of contracts youd swing?

Good thread btw
Cheers D
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Old Sep 5, 2017, 4:03pm   #55
 
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David Knight started this thread Low could be here 21,806.86 for Dow

Problem is SPX has not closed the gap..

.Buy at 2465 st 1pt under low @1463.12
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Old Sep 5, 2017, 4:23pm   #56
 
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Originally Posted by david knight View Post
low could be here 21,806.86 for dow

problem is spx has not closed the gap..

.buy at 2465 st 1pt under low @1463.12
out -2462

-3

Running +6.5
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Old Sep 5, 2017, 4:36pm   #57
 
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Have you ever tried scaling size to mange your your position David? Short 44 / 51 / 62, offer one or two back. Short 64 / 70 / 75 etc etc. Need to be playing more than 3 units to go that way tho really tbh. Whats the max number of contracts youd swing?

Good thread btw
Cheers D

Thanks

The best way to answer this is-

I'm Ok to add in the way I've shown so far in the journal but that I don't want to be managing a losing position If I no longer have belief that the trading idea was correct.

Once I think I'm wrong I will only delay getting out if I think I can limit the damage otherwise I'd rather get out and start again.

What you're suggesting, (and I don't want to be rude or critical of someone else's approach) is down the road of refusing to accept loss/being wrong.

You may get out of it, particularly on the long side, rather than short as per your example. but it' a bad habit that will really hurt you in the long run imo.
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Old Sep 5, 2017, 5:42pm   #58
 
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David Knight started this thread LONG 2452

I'm basing this on Dow poss low at 21,727.18
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Old Sep 5, 2017, 6:00pm   #59
 
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David Knight started this thread The spx low has now dropped 0.6 ticks to
2,449.81

And Dow low is still 21,727.18


So , as long as neither one of these prices gets takn out, I will hold all day if I can
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Old Sep 5, 2017, 6:12pm   #60
 
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The spx low has now dropped 0.6 ticks to
2,449.81

And Dow low is still 21,727.18


So , as long as neither one of these prices gets takn out, I will hold all day if I can

Covered @ 48 -4
Running 2.5

Not high prob trades once you get outside the 1st 60-90 minutes But considering the open gap above and gap close below it was worth a try.
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