mully
Excellent! Its so easy when you know what you are reading. Much appreciate your explanation.
bonsai
Am I correct in thinking that you play a bit of rugby? If so, I have always considered that it is a game for sadists and masochists. I suspect you are the former but then if you trade the markets you certainly need a portion of the latter. An intertesting mix!
Excellent! Its so easy when you know what you are reading. Much appreciate your explanation.
bonsai
Am I correct in thinking that you play a bit of rugby? If so, I have always considered that it is a game for sadists and masochists. I suspect you are the former but then if you trade the markets you certainly need a portion of the latter. An intertesting mix!
Areas of price rejection can be very important pieces of information.
There were only buyers, no sellers down there.
Tells other sellers that the selling pressure is not as strong as the chart may be suggesting.
Watch carefully...
It is not unusal to see a useful 'bear squeeze' operated by the bulls having seen the price rejection.
There were only buyers, no sellers down there.
Tells other sellers that the selling pressure is not as strong as the chart may be suggesting.
Watch carefully...
It is not unusal to see a useful 'bear squeeze' operated by the bulls having seen the price rejection.
Attachments
bracke
if you are to be in this game for the long term then trading with the trading trend is essential
dont fight it, go with the flow.
after the failed retest of 1 day at about 10.30, you should have switched to shorts as bonsai macd broke zero and was falling
(mully- another classic)
the 1 day has been falling ever since.
"a/d" - advance / decline (of FTSE100)
ok ?
if you are to be in this game for the long term then trading with the trading trend is essential
dont fight it, go with the flow.
after the failed retest of 1 day at about 10.30, you should have switched to shorts as bonsai macd broke zero and was falling
(mully- another classic)
the 1 day has been falling ever since.
"a/d" - advance / decline (of FTSE100)
ok ?
bonsai
I don't day trade - yet and don't know if I ever will . I trade the ftse and dow monthly futures and learned about 9 months ago not to fight the trend ( sometimes named contrarian trading ) it can be very expensive unless you take a very long term view.
I went short the june ftse at end of trading yesterday, debating whether to take profits or wait to see how the markets react to the non-farm payrolls tomorrow.
Thanks for your explanation
Regards
bracke
I don't day trade - yet and don't know if I ever will . I trade the ftse and dow monthly futures and learned about 9 months ago not to fight the trend ( sometimes named contrarian trading ) it can be very expensive unless you take a very long term view.
I went short the june ftse at end of trading yesterday, debating whether to take profits or wait to see how the markets react to the non-farm payrolls tomorrow.
Thanks for your explanation
Regards
bracke
Bonai
I was referring to my support (22/04)/resistance (27/04) band.
I take the point that didn't conform to Piper's exact definition, however I don't want to make too much of it.
Price rejection, for what ever reason, is always interesting. Shows lack of support.
Though the way the SP500 is currently acting, the bears might get some more support quite soon!
I was referring to my support (22/04)/resistance (27/04) band.
I take the point that didn't conform to Piper's exact definition, however I don't want to make too much of it.
Price rejection, for what ever reason, is always interesting. Shows lack of support.
Though the way the SP500 is currently acting, the bears might get some more support quite soon!
Hey guys wanted to get your thoughts..I probably know the answer already but always good to hear it from other people. Basically the questions is
Should one use "Freestyle trading or Bag of tricks?"
Sorry best way I could describe it. What I mean is as I have learnt more and more Ive seem to have signals for everything. For example that bounce is expected netted me +13 when I got the signal which is good but it means that a short this morning would have been closed out way too early. It also often means that I hesitate on one signal becuase I have another in a different time frame?
So obviously this is a conflict of interests in my trading. So it comes down to do I trade like Bonsai (sorry to use you as an example) which means trading freely in swings or do I just trade my bag of tricks which are as equally good and rely on signals and not just random guesses.
I deally I would like to combine the two but just end up having too many conflicts in my head? Any thoughts?
If it made any sense that is?
Should one use "Freestyle trading or Bag of tricks?"
Sorry best way I could describe it. What I mean is as I have learnt more and more Ive seem to have signals for everything. For example that bounce is expected netted me +13 when I got the signal which is good but it means that a short this morning would have been closed out way too early. It also often means that I hesitate on one signal becuase I have another in a different time frame?
So obviously this is a conflict of interests in my trading. So it comes down to do I trade like Bonsai (sorry to use you as an example) which means trading freely in swings or do I just trade my bag of tricks which are as equally good and rely on signals and not just random guesses.
I deally I would like to combine the two but just end up having too many conflicts in my head? Any thoughts?
If it made any sense that is?
Hooya,
I don't want to get into a big discussion as I have to have time to trade.
However, my reply was not flippant. Think about what it meant.
There is no single right way to trade the markets. Choose an approach that is comfortable for you. Trading is not a one-size-fits-all proposition; each trader must tailor an individual approach.
Since I do not know you I cannot recommend which system is best for you.
From your posts you appear to like lots of indicators. That obviously suits you. So that may be the answer.
I don't want to get into a big discussion as I have to have time to trade.
However, my reply was not flippant. Think about what it meant.
There is no single right way to trade the markets. Choose an approach that is comfortable for you. Trading is not a one-size-fits-all proposition; each trader must tailor an individual approach.
Since I do not know you I cannot recommend which system is best for you.
From your posts you appear to like lots of indicators. That obviously suits you. So that may be the answer.
