Hi all,
Just a general comment that the quality of this thread just gets better all the time. BIG thanks to all those posting their own charts with running commentary. Its a great help to those of us less experienced. Look forward to posting some myself in the coming weeks.
Keep up the good work everybody!
Just a general comment that the quality of this thread just gets better all the time. BIG thanks to all those posting their own charts with running commentary. Its a great help to those of us less experienced. Look forward to posting some myself in the coming weeks.
Keep up the good work everybody!
Tricky one...... experience and confidence helps..... but if you do want to try, take a small stake... then if the move goes as you expect, add to your position. Think of it as bringing in the cavalry once the job is started, to finish it off. You will be fighting from a psycological position of strength, having got your entry correct and into ( small) profit.
If it goes pear shaped, only a small loss..... My preference would be to take a short ( if any) as a rapid rise is less likely than a rapid fall.
IF you're not sure, stay out is the final word.
If it goes pear shaped, only a small loss..... My preference would be to take a short ( if any) as a rapid rise is less likely than a rapid fall.
IF you're not sure, stay out is the final word.
tradesmart
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Justyn,
I think that it helps with divergencies – opening and otherwise – to see if they occur at a significant S/R level….
Yesterday’s opening ‘top’ at 10023 ish has been a significant S/R level recently and as soon as the price hit it, it fell away very sharply without any hint of a retest…..a good clue that this was ‘real’ resistance..
Then, almost inevitably, it eventually homed in on the strong lower support at 9950 ish (top of the ‘W’ that has formed….)
Tony’s long at 9984 was plainly a bit dodgy imho as it wasn’t taken off significant support which was tested just after……
Mark major S/R lines on your charts in advance and it can help to set targets for the day's action......
I think that it helps with divergencies – opening and otherwise – to see if they occur at a significant S/R level….
Yesterday’s opening ‘top’ at 10023 ish has been a significant S/R level recently and as soon as the price hit it, it fell away very sharply without any hint of a retest…..a good clue that this was ‘real’ resistance..
Then, almost inevitably, it eventually homed in on the strong lower support at 9950 ish (top of the ‘W’ that has formed….)
Tony’s long at 9984 was plainly a bit dodgy imho as it wasn’t taken off significant support which was tested just after……
Mark major S/R lines on your charts in advance and it can help to set targets for the day's action......
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FetteredChinos
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oil prices causing chaos today eh?
more spikes than my cricket shoes....
more spikes than my cricket shoes....
You guys dont get it do you?
3 days in a row and since 1988 there is a bar that buys the open to 9.58 eastern time,then a proceedure for buying again or selling after the 10 bar,
For 20 years the trend line buy at 10.40 eastern time rushes into 11.0 where we cash,in fact most small traders cash every $100 gain seen on days where the market is less than $300 range since the open..etcetct yesterday and everyday since i was ejected from here,myself and my memebers were shown 12 trades every day all in same places and times and directions..
NOW..armed with this arrogant post why not go look at TIME ,LOWS AND direction get out of all but one time screen and change your lives from chat room bar flies to winners with control.
3 days in a row and since 1988 there is a bar that buys the open to 9.58 eastern time,then a proceedure for buying again or selling after the 10 bar,
For 20 years the trend line buy at 10.40 eastern time rushes into 11.0 where we cash,in fact most small traders cash every $100 gain seen on days where the market is less than $300 range since the open..etcetct yesterday and everyday since i was ejected from here,myself and my memebers were shown 12 trades every day all in same places and times and directions..
NOW..armed with this arrogant post why not go look at TIME ,LOWS AND direction get out of all but one time screen and change your lives from chat room bar flies to winners with control.
FetteredChinos
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thanks, and a good afternoon to you too.
Gully said:
Your post might well be an interesting one if I could understand the lingo.
Is there any chance that you could repost on the basis that the reader is a novice and needs full and clear information
Sorry to be a pest but I suspect that I am speaking for a number of my fellow unenlightened members.
Regards
bracke
stop guessing and look at bars..and if you put 34ma simple close on 5mins bars and treat it as god and ask me how we use it ALL the time..you will not have to guess..and on days when there is only $400 range one cannot guess with $150 stops..gotta run..i cannot resist answering silly chat room trades and so far this forum still keeps coming to my in box..i cant seem to stop it
FetteredChinos
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thats what stops are for,Gully...
besides, ive got more important things to worry about, like the tricky dichotomy of "stella or grolsch" tonight..
besides, ive got more important things to worry about, like the tricky dichotomy of "stella or grolsch" tonight..
stops dont answer the problem of not knowing the routine within the market..sorry.My group never needs stops we KNOW each entry exactly whats expected and instantly know we did not see it..15 times every day and 3 times per month on each position market..FetteredChinos said:
FetteredChinos
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you're using that 5 min/34ema stop and reverse system? i thought that was in serious drawdown. or have you got some filters built into it?
FetteredChinos
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Gully said:
thanks G-man. my homies need stops though, as the market could bomb 100 points the wrong way and my pc-crashes/leg falls off.
15 times a day? you must have a decent broker with low commissions....
i struggle to muster once a night...
If you email me directly I will show you the secret and each UK evening I can tell you exactly where to expect 4 buy and or 5 sell trades,all with $50 risk..we watch every bar full time so we exit ourselves ,part of the discipline training and also to stop folk hoping and wishing.FetteredChinos said:
If you wish to organise a group to hear it happening ;live in sound or seeing MY live charts
its free one time..and you can teach it from there
We Pay $5-6 rt and our fills are always inside $5 and are instant..dont use spread betting for daytrading fine for postion trading..with dow giving buy signal last thursday and agin yesterday at 9950
FetteredChinos
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ok, your buy signal on the DOW. where are your exits then? just curious as, i still reckon short is the way forward..
thanks for the offer re:trade signals, but no thanks. the only bar i watch full time is my local....
thanks for the offer re:trade signals, but no thanks. the only bar i watch full time is my local....
FetteredChinos
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im just sorting out my concrete shoes at the moment....