P
postman
Hi Mr Postman
Late Christmas mail
Swing Trading: Rules and Philosophy by Linda Bradford Raschke
might explain the longer targets etc, not to up on it because I don"t use it...
Have a good New Year all
Andy
Thanks for the link - I appreciate any extra learning opportunities and so I took time to read the article.
I found the it to be very repetative given how short it was i.e. here are 3 of the 14 "Rules"
"...If the market doesn't perform as expected, exit on the first reaction."
"When in doubt--get out! "
"When the trade isn't working, exit "
The "rules" also seemed to contradict themselves ...
"If the trade moves in your favor, carry it overnight--the odds favor follow-through."
"If the market offers you a windfall of big profits, take them to the bank on the close."
The following doesn't appear to be a rule...
"The goal always is to minimize risk and create "Freebies." "
There were some good indicators in there for the folllowing days movements, however it still doesn't explain DC's random number generation trading style.
I value the article for its final comment ...
"NEVER, NEVER, NEVER listen to anyone else's opinion! Only YOU know when your trade isn't working."
Happy new year.
black bear
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Happy New Year to you and all on thread
Hi Postman
Happy New Year to you to and every one else on thread
:clap::clover:
I value the article for its final comment ...
"NEVER, NEVER, NEVER listen to anyone else's opinion! Only YOU know when your trade isn't working."
well you got something out of it, thats something :clap:
I agree with most of your observations Postman, I posted it not as a complete method or plan but as one possible way a person could arrive at index targets that are hundreds of points away from the present location, thats all Postman.
Rules, ye they are errrrrrrrrrrrrr Not rules, I agree there for sure, anyone interested would have to do a little work on them.
Its value I think is learning or showing a new trader that its ok to look ahead and anticipate the trading opportunities and their possible locations. It also gives a good close valid stop location to IMO if you wait for the test of the PDL or H and trade in on the pullback in your prefered timeframe. I see no problem to method. It targets the days range which IMO is no bad thing. Its very much up to the trader to work out his or her RR and exact trade set ups etc.
Wind fall profits = your short in the Dow = it tanks 300 pts in 2 hrs with 40 mins to the close, lets say thats 3 times ATR = give me the cash, I will re-enter on the pull back or re-assess tomorrow = you were not expecting that kind of movement = your plan and backtesting indicate its a freak event=
Windfall = Payday = nice Holiday = makes a change not to be on the receiving end, why give back or risk the bounce :?:
I am sure you or anyone who is interested with a bit of work could come up with a filter or two in the higher timeframes to keep you the right side of the longer term trend more often than not and exclude some bad trade entries.
Regards explaining longer DC targets =
I am not saying thats how DC arrives at targets I am saying this is one way you could get such targets from where we are on a given day. Thats all
Swing method link= method based on Taylor technique = 3 day anticipation of market cycle. I do not agree with method or that any such cycle exists
not exact because I do not trade or use it but its something like this if memory serves me correct ~
sell day buy day short sell day etc = if you work out the ATR of the Dow = you will get ball park targets if you guess where you are in the assumed cycle . I think someone else posted on this thread a while back on the same subject if your really interested. (about 200 pages back at a guess)
your quite correct to say IMO Postman ~
ITS TOTAL RUBBISH and I for one am not interested in predictions or targets produced by some beer mat system.
It was just a post to help explain something I no does not need explaining but others often ask when what appear to be wild targets(I think they are, but am not interested in the debate at all) are posted on this board.
One more time = its only their opinion = get on with what you do and evaluate all you read later after the market is shut.
Don"t even read these boards if your discipline is such that your distracted from your own method plan by a random post in cyber space. In fact quit trading your not suitable its not for you, you don"t no your own mind and trading will break it for sure if your knocked of course so easy.
Sorry for any confusion caused Postman and good thoughts Postman, I appreciate you bringing it up.
ITS NOT A READY TO USE METHOD AND PLAN OUT OF THE BOX FOR SURE, just a link that may be of interest to someone whos at the early stages.
Thats me, I am out for the rest of day and do not intend re-posting any answers to this one today or any other day.
Sorry for all the colour, heavy night last night, got carried awayinnocent:
Have a good one all:clover:
Andy
Hi Postman
Happy New Year to you to and every one else on thread
:clap::clover:I value the article for its final comment ...
"NEVER, NEVER, NEVER listen to anyone else's opinion! Only YOU know when your trade isn't working."
well you got something out of it, thats something :clap:
I agree with most of your observations Postman, I posted it not as a complete method or plan but as one possible way a person could arrive at index targets that are hundreds of points away from the present location, thats all Postman.
Rules, ye they are errrrrrrrrrrrrr Not rules, I agree there for sure, anyone interested would have to do a little work on them.
Its value I think is learning or showing a new trader that its ok to look ahead and anticipate the trading opportunities and their possible locations. It also gives a good close valid stop location to IMO if you wait for the test of the PDL or H and trade in on the pullback in your prefered timeframe. I see no problem to method. It targets the days range which IMO is no bad thing. Its very much up to the trader to work out his or her RR and exact trade set ups etc.
Wind fall profits = your short in the Dow = it tanks 300 pts in 2 hrs with 40 mins to the close, lets say thats 3 times ATR = give me the cash, I will re-enter on the pull back or re-assess tomorrow = you were not expecting that kind of movement = your plan and backtesting indicate its a freak event=
Windfall = Payday = nice Holiday = makes a change not to be on the receiving end, why give back or risk the bounce :?:
I am sure you or anyone who is interested with a bit of work could come up with a filter or two in the higher timeframes to keep you the right side of the longer term trend more often than not and exclude some bad trade entries.
Regards explaining longer DC targets =
I am not saying thats how DC arrives at targets I am saying this is one way you could get such targets from where we are on a given day. Thats all
Swing method link= method based on Taylor technique = 3 day anticipation of market cycle. I do not agree with method or that any such cycle exists
not exact because I do not trade or use it but its something like this if memory serves me correct ~
sell day buy day short sell day etc = if you work out the ATR of the Dow = you will get ball park targets if you guess where you are in the assumed cycle
. I think someone else posted on this thread a while back on the same subject if your really interested. (about 200 pages back at a guess)your quite correct to say IMO Postman ~
ITS TOTAL RUBBISH and I for one am not interested in predictions or targets produced by some beer mat system.
It was just a post to help explain something I no does not need explaining but others often ask when what appear to be wild targets(I think they are, but am not interested in the debate at all) are posted on this board.
One more time = its only their opinion = get on with what you do and evaluate all you read later after the market is shut.
Don"t even read these boards if your discipline is such that your distracted from your own method plan by a random post in cyber space. In fact quit trading your not suitable its not for you, you don"t no your own mind and trading will break it for sure if your knocked of course so easy.
Sorry for any confusion caused Postman and good thoughts Postman, I appreciate you bringing it up.
ITS NOT A READY TO USE METHOD AND PLAN OUT OF THE BOX FOR SURE, just a link that may be of interest to someone whos at the early stages.
Thats me, I am out for the rest of day and do not intend re-posting any answers to this one today or any other day.
Sorry for all the colour, heavy night last night, got carried away
innocent: Have a good one all:clover:
Andy
Hi all,
Apologies for being off topic (moderators - please remove this if an issue).
Just wanted to get comments from you'all on moving from SB to DA.
Thread is:
http://www.trade2win.com/boards/tradestation/27926-moving-sb-da.html
Appreciate your feedback!
Thanks,
Karmit
Apologies for being off topic (moderators - please remove this if an issue).
Just wanted to get comments from you'all on moving from SB to DA.
Thread is:
http://www.trade2win.com/boards/tradestation/27926-moving-sb-da.html
Appreciate your feedback!
Thanks,
Karmit
Atilla
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Did somebody say predictions... :cheesy::clap:
Here is my take... "We will end the year around 11500 at the end of 2008". I have stuck this in my diary so I'll remind you all end of next year assuming we are all here ofcourse and not in the twighlight zone in deep space 9...
Here is a chart from end of November. It's still in play, I'm happy to say. Original lines and targets not changed but obviously weekly price moved nicely within the two red lines which I intend to use as guides for next year.
I attach all three charts dated 29th Nov, 16th Dec & 30th Dec... Hope to check these weekly when ever possible.
On an ambitious cheeky level I'm telling you my goal of retiring at the age of 51. :clap: I am guestimating up to 6/7 years. Three bear years followed by three bull years with one year for margin of error either way. :clap::clap::clap:
There is always the concept of work until 65...
o.Attachments
Atilla
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No trading for me today now, but looks like the next move is upto around 13400.
Am Happy with todays profits.
Happy new year, all!
Hi Atilla,
You could be right there, but I favour a bounce from the 250 cash area. We all know how unpredictable this little teaser can be!
Happy New Year to you and all fellow posters.
cheers - Tricks
P.S. I'll wait for a retest of the LOD before jumping in!
Atilla
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Maybe... Fear over sub-prime or optimism over rate cuts... Other than that no other info.
I'd bet on fear factor for now...
Either way good luck to everyone...
Stop to B/E
firewalker99
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I see you haven't changed a bit, mr fear factor
Happy new year Atilla, and the other DOW traders :cheers:
Well done DC :clap:
it did reach your target eventually today!
as they say "better late than never"
good one!
it did reach your target eventually today!
as they say "better late than never"
good one!
Atilla
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I see you haven't changed a bit, mr fear factor
Happy new year Atilla, and the other DOW traders :cheers:
Perhaps not. :whistling
However, I do feel, internally my psychie has changed Firewalker. Honestly. I am now able to trade based on the charts irrespective of what I think. Fundamentals still there but it's the technical charts that drive the entry and exits.
One thing I am considering based on FA is to take a short position out to run until the end of the year. SL @ 14500.
I haven't done it yet but will do. I just want to see the last bit of talk about rate cuts play out and see Fed's decision and then move in.
Cheers to you too and wishing all traders prosperous new year... :clap::clap:
