How to win trading & when not to trade (I have 1 month real live record so far)

Re: How to win trading & when not to trade (I have 1 month real live record so far)

come on it only happened in 1 day and only within few minutes at 2:45, which I already finished trading before that time. it doesnt make sense for people to see my May statement compared to other month, when in fact it worked in any other month.

any other reason people ?

May 6 was the date of the "Flash Crash", this might have something to do with it?
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

ok guys i have some MUST READ AND RARE quotes from Millionaries Trader book about misconception of averaging down and why people think it is bad. I repeat MUST READ! (pasted below)

Q: Do you average down into a trade?
A: This is going to cause some controversy—but a qualified yes. Let me stop the controversy though as much as I can. I realize as much as anyone else that averaging down has led to some of the biggest debacles in our industry. The idea of averaging down is where if you are buying an asset and then it goes against you. You
start buying more. You are getting hurt by reverse compounded interested. Not only are you wrong, not only is your net worth declining, but you’re also increasing your risk. Now I know that is a recipe for disaster and most people should not even do it.However, there is one other thing that’s been happening in the past few years and that is you identify a great asset class that you want to own for whatever reason. You’re thinking about buying it, and you’re sitting there and sitting there, and because of the world we live in and the amount of money that is going into these markets, all the managed money as well, and the amount of people who are
using black box or some type of trend following system designed to Basically exploit trends. You might be watching this asset class with a whole bunch of other trend followers. They’re going to get into the asset class make it go further and further away from you. You have a choice to make because you may think that this is a great asset class that I want to own it. I hope to own it at lower levels, but the trend guys are in there and they’re pushing it and pushing and it’s getting away from me. I’ve got to buy some now and get some exposure because the worst thing you can ever do is be right about an investment, researched it, it’s correct and it goes dramatically in your favor and you’re not even on board. I mean that’s going to lead to huge underperformance or maybe losses for the year. Sothey’re going to get in, you’re going to get in with them, and the Achilles heel of every trend follower is this following sentence: You cannot pick up a trading book without reading it. In fact, you’ve heard it all before. To be a good trend follower you’ve got to cut your losses and let your profits run. In that statement is the Achilles heel of their trading strategy. They’re going to cut losses, which means they’re going to take a lot of whipsaws and they’re going to let their profits ride, which means they’ve got to suffer huge drawdowns before they get out of their trades. Let’s focus just on the cut your losses side because that is what is applicable to my averaging down. What happens is that I’m going to get in with all the trend followers and you then have the reaction, which is then going to cause the trend followers to further that reaction by cutting their losses, which is going to create more pressure on the down side. At that stage I may relook at this thing and say, “You know, it still looks like a great asset class, I still want to own this
thing for whatever reason.” I know it’s gone against me, but I have to commit more capital here. Usually I’ll let it drop two, three, four days against me, and I’ll wait for it to show that the trend is going to continue before I pull the trigger again.

Q: You wait for prices to stop going down and going against you?
A : Yes. I’ll give you one example that I use. Technically I’ve seen and I’ve tested on Trade Station that Markets that are in good uptrends and followed by trend followers, have anywhere from two-, three-, or four-day price drop correction, which is, in my mind, a reflection of the trend followers cutting losses. If the trend
is over, this might not apply. But frequently what I’ve found is that the trend is going to reassert itself. What happens is the market eventually takes out it’s high the day before and, let’s say, we had a three-day correction. So you had down moves day one, two, three, and on day four I’m watching and I’m thinking, “Are they out? Are they out? Are they out? I don’t know. I don’t know.” I’ve reevaluated everything. I’ve probably spent hours thinking about if I’d do this trade again and all of a sudden it takes out yesterday’s high. At that point, most likely, I’m going to start to execute andbuy and basically this is my averaging down. I figure that this trend should now snap back, it should continue, the trend should go up and at that stage, I do tighten up my stops. I will look to suffer less standard deviation risk because, by my logic, this should be over. We’ve just had a pretty good standard deviation correction in prices—I think that the trend followers are out. If this is a real trend, it should reexert itself. If it doesn’t now, I’m out because I’ve doubled up and I am in a risky position. If it goes wrong, not only do you have a move that is one standard deviation worse than I thought, we’re now exploring standard deviation two, so I’m out.

Finally, there are two pieces of advice in commodity trading legend which has been passed down through the ages as gospel. One: “You must cut your losses and let your profits ride!” Two: “Losers average losers!” Both are conceptually correct, yet the logic of both has been blown out of proportion, if not twisted, over time. Today it is considered a sin for any self-respecting trader to not cut losses quickly, sometimes too quickly. Today it is also a trading sin to average losing trades. We need to reexamine these ideas with a greater level of maturity and sophistication in order to continue to be able to win at trading in the future. In 1974 Muhammad Ali in the “Rumble in the Jungle” against George Foreman in Kinshasa, Zaire, used a strategy in boxing that was considered a boxing sin at the time to become Heavyweight Champion of the World against great odds. It was the so called rope-a-dope strategy. The theory at the time was that lying on the ropes was wrong because it exposed a fighter to more punishment than if he moved around the ring. This did not discourage Ali from using the strategy against Foreman. Foreman was a harder puncher than Ali. Most analysts felt that Ali would have to stay away from Foreman to beat him. Instead, Ali started to lie on the ropes by the end of the first round and used the ropes for the rest of the fight. Foreman’s strategy, which was totally obvious (just like cutting losses and letting profits run in trading) was to cut off the ring, get Ali to the ropes and hit him. Since Ali was willingly lying on the ropes, Foreman would plant himself in front of Ali and punch as hard as he could. Foreman landed constant blows to the body, but due to Ali’s focus on protecting himself had trouble landing to the head. Ali scored on Foreman with an occasional jab or series of jabs as Foreman tried to reposition himself or catch his breath. Foreman began to tire from all this activity (in tradingterms, getting repeatedly stopped out and then trying to reenter at worse levels) and from the occasional punches he was taking from Ali (in trading terms, the actual capital losses related to the stops getting hit and possibly not being able to reenter at favorable levels). Foreman was visibly finished by the end of the fifth round and eventually knocked out in the eighth. If Clint Eastwood can take great trading advice and apply it to boxing, perhaps I can take great boxing advice and apply it to trading. The greatest boxing advice I could find inverted a boxing sin and converted it into a favorable outcome against great odds. This advice came from the greatest boxer of all time, Muhammad Ali. Thank you, Muhammad Ali, you have always been a hero. My commodity trading version of rope-a-dope is to take a commodity trading sin. That is, not cutting losses quickly and then making it worse for a brief period of time and space—but don’t expose yourself too long—by adding to the loser trade. I have
found that in the long run I am achieving better results, behaving with better discipline and emotional control than the people who mindlessly cut losses too quickly and won’t even consider averaging down to improve odds. Warren Buffett once said, “I buy a stock I like for 100, it goes to 90, I still like it, I buy more. How is that more risky?” Just like Warren Buffett, I also have trouble perfectly timing trades. This strategy has at time enhanced my performance in spite of my initial poor timing. It definitely involves superior discipline and emotional control—try it sometime—than someone who allows themselves to get whipsawed too soon out of a perfectly good trend. My risk is increased for only a very short period of time and movement. Be careful about exposing yourself for too long. My opponents are getting tired out both in terms of physical capital and mental capital due to the fact that they got thrown out of a good trade too quickly and now must try—and I emphasize
try—to reenter later, most likely at higher prices, and with less real capital and less mental capital than when they started. Constantly getting stopped out and trying to reenter trades is very tiring from both a mental capital and physical capital perspective. Please, don’t take trading lore for granted. Step back and try to take a more mature and sophisticated view of how to achieve results. “Whipsaw is for losers!” Did you ever consider that? If so,I hope you will find your own version of the rope-a-dope strategy. You will need to first understand the concept of value for buys and possibly the concept of hysteria for sales as well as the concept of margin of error for both buys and sells. I wish you all the best of luck in your endeavors.
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

this is another quote from another trader Roland Campbell who averaged up/down from the same Millionaire trader book!

Q: Do you go in all in one shot or do you tend to average in to
get a better price on the move?
A : That to me is absolutely the key to my success. I average in
on every trade I make and I average out whenever I exit. I have
a tendency where, as soon as I buy a currency, it will dip 10 pips.
Before I would get upset, but now I love it because I feel like I can
get in at a better price, so I hope it dips another 10 pips. I know
the price I want, so I will average into that price.
Q: How many times would you average into a trade?
A: Normally four’s about right. If it goes much further than four
average downs, I have to start considering whether this is the right
trade to be in, but 9 times out of 10 that strategy works for me.
Q: You average out as well, right?
A : I most definitely do. I tend to get rid of half of it and then
bring my stop on a quarter of it up to a nice amount of profit, then
bring the stop on the other quarter just to my entry price.
Q: How much leverage do you use?
A : Fifty to 1 or 100 to 1. Just depends on which account I’m
trading in.
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

it is funny how i never read this before in Jack Schwager Market wizards top trader interview book.

But I am glad that at least some trader use averaging techniques & it might change some perspective of other trader who said this idea is absurd.

I just found it tonight from Barnes&noble bookstore but I download the ebook online for free. let me know if u want it. Hope it helps

Tommason
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

I've tried averaging down few times due to a total lack of discipline. Must say I managed to get some impressive profits at that time.

After careful observations of the trades, I would say it was more like gambling and I was lucky to get away with it. Would I do it again? Definitely not - drawdown can be quite impressive as well if there is no good trade plan based on a proper analysis and precise stops if things go pear shaped.

On the other hand I sometimes add to the position if the trade goes in my favour (on the pull backs), but that's not averaging down anyway.
 
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Re: How to win trading & when not to trade (I have 1 month real live record so far)

ok guys i have some MUST READ AND RARE quotes from Millionaries Trader book about misconception of averaging down and why people think it is bad. I repeat MUST READ! (pasted below)

Q: Do you average down into a trade?
A: This is going to cause some controversy—but a qualified yes. Let me stop the controversy though as much as I can. I realize as much as anyone else that averaging down has led to some of the biggest debacles in our industry. The idea of averaging down is where if you are buying an asset and then it goes against you. You
start buying more. You are getting hurt by reverse compounded interested. Not only are you wrong, not only is your net worth declining, but you’re also increasing your risk. Now I know that is a recipe for disaster and most people should not even do it.However, there is one other thing that’s been happening in the past few years and that is you identify a great asset class that you want to own for whatever reason. You’re thinking about buying it, and you’re sitting there and sitting there, and because of the world we live in and the amount of money that is going into these markets, all the managed money as well, and the amount of people who are
using black box or some type of trend following system designed to Basically exploit trends. You might be watching this asset class with a whole bunch of other trend followers. They’re going to get into the asset class make it go further and further away from you. You have a choice to make because you may think that this is a great asset class that I want to own it. I hope to own it at lower levels, but the trend guys are in there and they’re pushing it and pushing and it’s getting away from me. I’ve got to buy some now and get some exposure because the worst thing you can ever do is be right about an investment, researched it, it’s correct and it goes dramatically in your favor and you’re not even on board. I mean that’s going to lead to huge underperformance or maybe losses for the year. Sothey’re going to get in, you’re going to get in with them, and the Achilles heel of every trend follower is this following sentence: You cannot pick up a trading book without reading it. In fact, you’ve heard it all before. To be a good trend follower you’ve got to cut your losses and let your profits run. In that statement is the Achilles heel of their trading strategy. They’re going to cut losses, which means they’re going to take a lot of whipsaws and they’re going to let their profits ride, which means they’ve got to suffer huge drawdowns before they get out of their trades. Let’s focus just on the cut your losses side because that is what is applicable to my averaging down. What happens is that I’m going to get in with all the trend followers and you then have the reaction, which is then going to cause the trend followers to further that reaction by cutting their losses, which is going to create more pressure on the down side. At that stage I may relook at this thing and say, “You know, it still looks like a great asset class, I still want to own this
thing for whatever reason.” I know it’s gone against me, but I have to commit more capital here. Usually I’ll let it drop two, three, four days against me, and I’ll wait for it to show that the trend is going to continue before I pull the trigger again.

Q: You wait for prices to stop going down and going against you?
A : Yes. I’ll give you one example that I use. Technically I’ve seen and I’ve tested on Trade Station that Markets that are in good uptrends and followed by trend followers, have anywhere from two-, three-, or four-day price drop correction, which is, in my mind, a reflection of the trend followers cutting losses. If the trend
is over, this might not apply. But frequently what I’ve found is that the trend is going to reassert itself. What happens is the market eventually takes out it’s high the day before and, let’s say, we had a three-day correction. So you had down moves day one, two, three, and on day four I’m watching and I’m thinking, “Are they out? Are they out? Are they out? I don’t know. I don’t know.” I’ve reevaluated everything. I’ve probably spent hours thinking about if I’d do this trade again and all of a sudden it takes out yesterday’s high. At that point, most likely, I’m going to start to execute andbuy and basically this is my averaging down. I figure that this trend should now snap back, it should continue, the trend should go up and at that stage, I do tighten up my stops. I will look to suffer less standard deviation risk because, by my logic, this should be over. We’ve just had a pretty good standard deviation correction in prices—I think that the trend followers are out. If this is a real trend, it should reexert itself. If it doesn’t now, I’m out because I’ve doubled up and I am in a risky position. If it goes wrong, not only do you have a move that is one standard deviation worse than I thought, we’re now exploring standard deviation two, so I’m out.

Finally, there are two pieces of advice in commodity trading legend which has been passed down through the ages as gospel. One: “You must cut your losses and let your profits ride!” Two: “Losers average losers!” Both are conceptually correct, yet the logic of both has been blown out of proportion, if not twisted, over time. Today it is considered a sin for any self-respecting trader to not cut losses quickly, sometimes too quickly. Today it is also a trading sin to average losing trades. We need to reexamine these ideas with a greater level of maturity and sophistication in order to continue to be able to win at trading in the future. In 1974 Muhammad Ali in the “Rumble in the Jungle” against George Foreman in Kinshasa, Zaire, used a strategy in boxing that was considered a boxing sin at the time to become Heavyweight Champion of the World against great odds. It was the so called rope-a-dope strategy. The theory at the time was that lying on the ropes was wrong because it exposed a fighter to more punishment than if he moved around the ring. This did not discourage Ali from using the strategy against Foreman. Foreman was a harder puncher than Ali. Most analysts felt that Ali would have to stay away from Foreman to beat him. Instead, Ali started to lie on the ropes by the end of the first round and used the ropes for the rest of the fight. Foreman’s strategy, which was totally obvious (just like cutting losses and letting profits run in trading) was to cut off the ring, get Ali to the ropes and hit him. Since Ali was willingly lying on the ropes, Foreman would plant himself in front of Ali and punch as hard as he could. Foreman landed constant blows to the body, but due to Ali’s focus on protecting himself had trouble landing to the head. Ali scored on Foreman with an occasional jab or series of jabs as Foreman tried to reposition himself or catch his breath. Foreman began to tire from all this activity (in tradingterms, getting repeatedly stopped out and then trying to reenter at worse levels) and from the occasional punches he was taking from Ali (in trading terms, the actual capital losses related to the stops getting hit and possibly not being able to reenter at favorable levels). Foreman was visibly finished by the end of the fifth round and eventually knocked out in the eighth. If Clint Eastwood can take great trading advice and apply it to boxing, perhaps I can take great boxing advice and apply it to trading. The greatest boxing advice I could find inverted a boxing sin and converted it into a favorable outcome against great odds. This advice came from the greatest boxer of all time, Muhammad Ali. Thank you, Muhammad Ali, you have always been a hero. My commodity trading version of rope-a-dope is to take a commodity trading sin. That is, not cutting losses quickly and then making it worse for a brief period of time and space—but don’t expose yourself too long—by adding to the loser trade. I have
found that in the long run I am achieving better results, behaving with better discipline and emotional control than the people who mindlessly cut losses too quickly and won’t even consider averaging down to improve odds. Warren Buffett once said, “I buy a stock I like for 100, it goes to 90, I still like it, I buy more. How is that more risky?” Just like Warren Buffett, I also have trouble perfectly timing trades. This strategy has at time enhanced my performance in spite of my initial poor timing. It definitely involves superior discipline and emotional control—try it sometime—than someone who allows themselves to get whipsawed too soon out of a perfectly good trend. My risk is increased for only a very short period of time and movement. Be careful about exposing yourself for too long. My opponents are getting tired out both in terms of physical capital and mental capital due to the fact that they got thrown out of a good trade too quickly and now must try—and I emphasize
try—to reenter later, most likely at higher prices, and with less real capital and less mental capital than when they started. Constantly getting stopped out and trying to reenter trades is very tiring from both a mental capital and physical capital perspective. Please, don’t take trading lore for granted. Step back and try to take a more mature and sophisticated view of how to achieve results. “Whipsaw is for losers!” Did you ever consider that? If so,I hope you will find your own version of the rope-a-dope strategy. You will need to first understand the concept of value for buys and possibly the concept of hysteria for sales as well as the concept of margin of error for both buys and sells. I wish you all the best of luck in your endeavors.

This is geared towards stocks and shares and not trading intraday. If you value a stock at 120$ and its trading at 90$ then next week 80$, then buying more for cheaper is a sound enough idea for me.

I don't know how you're trading, but you must be doing something right. The most important thing is i think you know when to take a loss. But i've seen this before with many clients. They make £100k over the course of a two months and then do it all in one day. I think the only reason this hasnt happened to you yet is that you keep taking money out, which has stopped you from doing all your dough. I think you should keep your balance as low as possible without messing with your average down technique.
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

averaging down is just one trade broken up so if your entry is off then it's good.
the problem is;where do you stop? i dont mean this in terms of a loss, i mean at what area/price/level so you stop scaling in? if you know where to stop then why not wait for price to get there and pyramid in instead?
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

I don't know how you're trading, but you must be doing something right. The most important thing is i think you know when to take a loss. But i've seen this before with many clients. They make £100k over the course of a two months and then do it all in one day. I think the only reason this hasnt happened to you yet is that you keep taking money out, which has stopped you from doing all your dough.

When Spanish89 moved over to Elitetrader to make his journal, he did the same thing.
He actually seemed to grow his account very nicely. Despite being known for his 'spanish stop' he did seem to know when to cut his losses and he also regularly took money out and seemed to be making rather good money.

We need to get him back I think. He's served his time....:innocent:
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

hey bedsit what is ur observation? define that . you should incorporate time in your observation. as I said very early in the tread, I use time. the more time left you have the higher probability you will get filled before market close. of course there are other factors.

if you said you are lucky, then you need to do more study on this topic.

yes I agree drawdown can be very big especially if u do counter trades on the overextended price. but if you follow the trend(avg on pullback) it's much smaller most of the time.

but again I am getting better at this. I have said I can make money doing this the first time I started this thread (remember? and most people was against me), but I love to prove people wrong and I still do until today without adding additional capital and make more than 100K even before December 2010. the difference is I didn't follow the trend back then, but now i can do both and identify the trend much better and have more experience.

I've tried averaging down few times due to a total lack of discipline. Must say I managed to get some impressive profits at that time.

After careful observations of the trades, I would say it was more like gambling and I was lucky to get away with it. Would I do it again? Definitely not - drawdown can be quite impressive as well if there is no good trade plan based on a proper analysis and precise stops if things go pear shaped.

On the other hand I sometimes add to the position if the trade goes in my favour (on the pull backs), but that's not averaging down anyway.
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

well I applied it in futures intraday as you can see in my statement (no carried position overnight 95% of the time) and its working as well. but you are right i need to keep my balance low as I always give back my gain. of course you dont risk everything in one trade since, if you do that is not averaging down/up. I do not put stop loss so I do average or scaling.

I wish i am good at taking loss. I still need to work on it.
I do time stop most of the time compare to fixed stop. (the more time left, the better for me). actually I took huge losses before as i remembered, the latest was on October and it just happened this month on December, but somehow i made it back. huge loss means lose more than 10K in a day! i took 27K loss this month in 1 day! and I take huge loss more than that last October too. but the money I made is much more thats' the reason i was able to get at least average of $10k realized profit a month. this month my balance dropped to nearly 6K and i made it back to 19k in few days excluding taking profit.

November 2010 was the best month of the year as I trade less and never had any losing day, but withdraw more than 50K in a month. that's crazy!b

i can send you my statement if you need proof and how do i make it back in few/several days. its emotionally tough on me.

This is geared towards stocks and shares and not trading intraday. If you value a stock at 120$ and its trading at 90$ then next week 80$, then buying more for cheaper is a sound enough idea for me.

I don't know how you're trading, but you must be doing something right. The most important thing is i think you know when to take a loss. But i've seen this before with many clients. They make £100k over the course of a two months and then do it all in one day. I think the only reason this hasnt happened to you yet is that you keep taking money out, which has stopped you from doing all your dough. I think you should keep your balance as low as possible without messing with your average down technique.
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

mostly, I stopped scaling when price doesnt go below my entry point.
I tried to scale out every 5 to 10 tick or more depending on the volatility,angle, and news. of course the higher the timeframes the more reliable.

I almost never pyramid as I am not as patient and I do not like to buy something when its above my entry point too much. I'd rather wait for pullback to get the best price.

pyramid is too expensive since you buy/sell when price already moving in your direction, this makes your entry worse.

averaging down is just one trade broken up so if your entry is off then it's good.
the problem is;where do you stop? i dont mean this in terms of a loss, i mean at what area/price/level so you stop scaling in? if you know where to stop then why not wait for price to get there and pyramid in instead?
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

did he ever post his trades? I wanna see if he does. I think i am the only one who post real statement in this forum

When Spanish89 moved over to Elitetrader to make his journal, he did the same thing.
He actually seemed to grow his account very nicely. Despite being known for his 'spanish stop' he did seem to know when to cut his losses and he also regularly took money out and seemed to be making rather good money.

We need to get him back I think. He's served his time....:innocent:
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

Agree with this, it is just a way of getting early entry in my book...


averaging down is just one trade broken up so if your entry is off then it's good.


Tis a valid point too, I just use my stop where the PA dictates that I am totally wrong. Different for each trade. As for waiting, I often do, but sometimes I fancy early entry and go in smaller with the intention of averaging if it goes agains´t me.

the problem is;where do you stop? i dont mean this in terms of a loss, i mean at what area/price/level so you stop scaling in? if you know where to stop then why not wait for price to get there and pyramid in instead?
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

what do you mean you use stop and then u average ? so basically sometimes you use stop and sometimes you use average ??

I'm sorry I do not get your point

Agree with this, it is just a way of getting early entry in my book...

Tis a valid point too, I just use my stop where the PA dictates that I am totally wrong. Different for each trade. As for waiting, I often do, but sometimes I fancy early entry and go in smaller with the intention of averaging if it goes agains´t me.
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

How did today work out for you? trying to counter trade the down move on today's action would have created a decent draw down.
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

I have final this week until Wednesday,I will start again thursday. But I did trade today only very short time only 15 mins or less. Actually I did counter trade the gold and crude oil and it's all succesful. maybe 500 drawdown. I only profit $1500 before comm and fees.

wait i thought today is up move? its up move but sell off at the end of the day right ? that's where I got in

Aversano I do not think you understand me and you did not read all my posts.
so tell me why today is a sell off at the end ? if you can answer me this one, you've been paying attention to all my previous posts.





How did today work out for you? trying to counter trade the down move on today's action would have created a decent draw down.
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

I have read all of your posts..... ALL OF THEM.

sell of in the S&P,DOW and Nasdaq
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

you might read all of them, but not paying attention. hahaha

here is one strong reason time! : FOMC Meeting Announcement 2:15 PM ET. this is red star!
watch time as well! dont forget!

thats; the reason i put a trade even after 2pm because there is news so volatility picked up and furthermore this is an option expiration week for stocks and futures and it's also quadruple withching day. be careful strong volatiliy so it means strong deviation. so better get longer entry.

try to watch upcoming news.

http://noir.bloomberg.com/markets/ecalendar/index.html

beside major index, you also need to watch currency as well. this is free site that i use. it has positive correlation with index in general. so that's another reason.

http://www.fxstreet.com/rates-charts/forex-charts/?id=eur/usd
http://www.fxstreet.com/rates-charts/forex-charts/?id=aud/usd
http://www.fxstreet.com/rates-charts/forex-charts/?id=gbp/usd

and more importantly is the angle of the bullishness is to steep. that's the reason i counter trade. I not only watch price ,but time as well.

hope this helps!

I have read all of your posts..... ALL OF THEM.

sell of in the S&P,DOW and Nasdaq
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

I do pay attention to all of the above. I trade price action and VOLUME. My notes to you are out of admiration to the size of your balls.
 
Re: How to win trading & when not to trade (I have 1 month real live record so far)

great so why didnt you mention it ? but did yo win today?
did you watch the price steepness ??


I do pay attention to all of the above. I trade price action and VOLUME. My notes to you are out of admiration to the size of your balls.
 
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