OK -
Grinder - I doubt it, I don't even look at averages I have no idea what the right side of the average is - my analysis was that the dax was heading to 9000 so I went long. No confirmation of any kind.
Shark bait - I won't deny there have been times where I have done this in the past but now I don't think so, there was no amount of confirmation or panic that took me out of that trade or got me into it - my stop was set at 8820 yesterday and not moved. I entered the trade pretty much randomly so there can be no other explanation than 8820 being shark bait level was pure coincidence (I understand that the dax reaching that level was probably no coincidence)? If you didn't have a shark bait level before hand then what was your reason for taking a trade at 8820 and exiting at 9000?
My first trade was at 8783.5 tuesday morning and my second was at 8857 after the US open. In your opinion, what do you think I was (without the obvious stupid answers)?
My 2c on the entries:-
Id say the grinders were positioned before your first entry (well, those that who had to stomach to take the trade after being chopped up the previous day). Looks like you were buying alongside the aggressives. Ditto with the second entry.
Shark bait were all done buying by 8960 the following morning.
Probably more important, who do you think you were participating with, relative to this window?
My 2c on the trade:-
(Post entries tuesday) the market was talking to you.
"Hey buddy, you wana take 100% profit on this move?"
"No thanks man, ive got dax @ 9000"
(Wednesday morning)
"Hey buddy, you wana take 100% profit on this move?"
"No thanks mate" for whatever reason.
(Wednesday after the early retracement)
"Hey buddy, you wana take 50% profit on this move?"
"Hey buddy, you wana take 60% profit on this move?"
"Hey buddy, you wana take 70% profit on this move?"
"Hey buddy, you wana take 95% profit on this move?"
etc etc etc
Im guessing, at some point during the wednesday/thursday morning you said
"No thanks mate, Ive given responsibility for the trade to a stop (and perhaps a limit at 9000)."
(Thursday morning)
"Hey buddy, you wana take 0% profit on this move?" Ping!
"You F 😡😡😡😡😡😡😡😡😡😡😡 T!"
If you didn't have a shark bait level before hand then what was your reason for taking a trade at 8820 and exiting at 9000?
My reason for taking the trade was that the medium term direction was up.
My reason for supplying the sellers late yesterday was simply "They are probably wrong". The sellers were all done by 8820. I had no one else to buy from.
My reason for exiting was the market put in a nice move way above average. The market was saying,
"Hey buddy, you wana take 100% profit on this move"
I said
"yes thanks" every time, at prices between 8930-9000, till I had nothing left to sell. No confirmation, no view on levels etc. Its as simple as that. :|
I know nothing
