piphoe
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what's your stop? i missed that post?
we all know you are good with a cool +50
who isn't
lexcorp
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Out here at 20900 for +25
itspossible
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piphoe
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P
postman
You were right, no heat on the position, which is more than I can say for my legs.
What a day, that sunshine, glad I spent the day outside instead of watching that ridiculously low range on the dow, that must have been dull.
Anyway, closed for +3, who knows what price they will invent overnight.
lexcorp
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took the -10
Why let it hit my stop?
*Slaps self on wrist*
''NEVER go short the indicies. Even for a scalp. Too low probability''
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postman
Nothing about these markets say short, its just constant moves UP. Do you have an exit strategy?
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postman
1. Buy on the open. dax up 105 from 8am, ftse up 35.
2. Sell at 9am.
3. Take the day off.
If only I could do it.
2. Sell at 9am.
3. Take the day off.
If only I could do it.
lexcorp
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romans2
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Me 2
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postman
Getting big enough dips Lex?
lexcorp
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out here at 12686 for +30
It'll likely shoot up a few hundred more fairly soon, but content with that for now plus i'm holding my NQ long and a few others for swings and don't wanna load the boat even if it does feel risk free, lol.
I'll be back in long should the market be kind enough to give another dip, though!
wallstreetwarrior87
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Exit wise I have to see ES hold above 2405, I will not dump on any chased move higher, as I see this as pure fake (this can of course change if we do hold the high level). We are creating an environment encouraging longs into the market (see the up channel last few days - with no dumping). This is great for day traders to pick some points off, but my days of day trading have been over for about 2 years now. The way I now trade (partly due to bigger size/time etc) is 6 to 8 big trades a year. I enter small relative to account, and keep small as long as possible, and then simply add in aggressively when price moves in the intended manner and at the desired rate.
So in a nutshell I trade what I believe is the motive behind the movement, and not the movement itself. Its great to see you guys picking up the points to the upside, and I do get tempted, but patience and experience has showed this to be counterproductive - just have conviction and risk management in place. My call is that the big down move caught everyone off guard, even the big boys hadnt had time to get what they needed. On this current up move they can get rid of remaining longs, while other's complete their short accumulation. Then we have a potential triple top in play. Then we can look for 2330/2290 downside
The other major play I have done over that last 6 months (which another member knows about in real time via PM) has been loading up on pound each time we came near the 1.2200 zone and off loading 1.2600/800 zones, then repeating the process (but keep at least 1 unit in play). Personally was hoping for more, but currently its holding the highs the last few weeks.
Thats it really, just need to be focused on key times in a session to check on the overall picture, then go away. It is not wise to concern ourselves with price action that does not involve the major players - too much second guessing. Finally when the story does not make sense get out and wait for the next trade.
No chasing/doubling up etc just accept that the call was wrong (which I may do in a few sessions time?)
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romans2
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l 12668 dax
