Patuca

i may soon get to say hello and goodbye to MM SL in the ES...sail on silver girl...sail on..your time has come....

you must have the patience of Job. I don't think i could stand that...so many days and no trades..i made 6 today..5 winners and 1 loser..all positive traders equation...all at least 1:1 rr and one that was 10:1 rr. It is hard for me to see how mr ross's setup did not appear at all today in the type of PA we had today. Did you happen to miss some?

stop cpt bob! Do not do it. A person can still buy the breakout on any pb tomm. If no pb then with this huge strong bull bar a body can buy the open tomm and place a stop below the breakout... There is still time....big bull bars closing near their highs is another form of confirmation. Ps remember my secret indian code in drawing with the tipi which mits was mocking? Well the sitting bull is now standing up....he may start running soon.. Cheers capt bob cheers..tomm is a bright day...

hey capt bob looks gold may be breaking to north. if so just need confirmation. new strategy in place now. if it gets sucked back into the range then back to ATM strategy. i bet you are grinning now. please go to the j. ross thread and post something positive encouraging mr handle...thanks

perhaps capt bob has has three losing trades in a row and hence is on a triple whammy bad mood...you may need to cut him some slack?...just a thought....you have 5 winners in a row..just many days waiting for them....i prefer to have that many or more in one day......capt maybe a golfing fanatic and could still be pissed about missing the game to see mr joseph...please understand...

and of course everyone and their brother knows about the resistance level at 1350...well maybe everyone.....

Mr Bob... Have you been using the ATM STRATEGY in your daily gold training. Please notice the range. Notice the race to the top (albeit on day chart race seems slower:rofl:)...then the race to the bottom...then the race to the top again....now price action is near top of the range. Given that 70% to 80% of breakouts fail what is the next likely move for gold? Answer: a race to the bottom of the range. However, it could breakout out to the upside as sooner or later it will breakout either north or south. If it does breakout say to the north then it might be wise to wait for a confirmation of he breakout...like a second bull bar making higher high and closing higher (outside the range) or a pullback that stays outside the range or at the edge of the range with the north trend resuming after the pullback. Why? The reason is the first breakout bar often gets sucked right back into the range. Simple eh? Works on all time frames..maybe too simple for the slew of indicator people? May be Too many negative vibes for gold to push through the resistance so odds favor a breakout failure. Hence a probable run back to bottom of the range. But, if it were to breakout this time (i can't get Mits to cooperate with positive vibes for gold:haha:) then again, the new strategy is to wait or confirmation before taking a position. THE ATM STRATEGY. Put card in machine ..withdraw cash...wait for the race...put the card in and withdraw more cash.....repeat as often a necessary until a confirmed breakout occurs.

please meditate deeply. You will see it. it is the secret indian code..It is sitting bull's tipi on a slope with top of tipi poking out of sky with smoke signals signifying everyone to get ready for a rush to the top side. Please notice the pun..."sitting bull". Patuca

suntrader s having a solar eclipse.

Who can you trust these days? It said continuation. :rofl: :rofl: :rofl: maybe you will like one of these lines?.. I can't please everyone you know...

LOL :rofl: :rofl: of course i will be right at some stage...so will you..... Is it easier to guess price direction five minutes from now say as opposed to 3 days from now or 3 months from now or is it at equally difficult to acertain probable price action on any time frame?

capt Bob have you so soon forgotton the ATM strategy i clearly defined or all to see? When something is in a range you are correct that most breakouts fail. So what does one do? One sells the high ...covers at the low, reverses and goes long at the low and sells the long at the high. That is the tactic...But, as we know the market doesn't always follow our tactics ....we don't even always follow our own tactics all the time so how can we expect the market to! :rofl: So, while a trader generally employs the above tactic he should also seriousley look at getting out at any level in either direction that gives him a decent profit . why? because in ranges price can meander around TOO...... A trader repeats and repeats (ad nauseum) until it does break out. Once it breaks out the trader would be wiser to not buy the first breakout bar. Why? Because the first breakout can fail, and often does, just getting sucked right back into the range. A trader is better off letting all breakouts from ranges confirm themselves. Say..at least 2 good bars in the breakout direction or a breakout bar then pullback and resumption of the breakout direction. The further in time..i.e. horizontal that the range eats up before a confirmed breakout simply increases the chances of a breakout in either direction, when it does happen. However, a trader can assess the pressures in the range by looking at each bar. Is it bearish or bullish? Size of bars...tails on bars....amount of bearish/ bullish bars...mini price patterns. These factors can indicate the probable direction of the breakout when it does happen. Remember..the deep pockets are trading ranges on both long and short side and both are making money..that is what is creating the bars. At some point in time the bears will overcome the bulls or vice versa. "Home on the range (price context)..where the buffalo (big bars) roam...where the deer and the antelope (smaller bars) play....where seldom is heard a discouraging word (no emotions)....and the skies are not cloudy all day (losses can be recouped ...bad days can be will turn into better days) To all who read this post... Never listen to what i say and for crying out loud do not do what i do....you may lose your money.... The above is simply for discussion and the killing of time while i am trading. Pay no heed to it.

all these people talking bad about gold...their negative vibes may be stopping it...i shall chime in and declare that this time it will pop right thru that barrier....where all the negative vibes have accumulated..gold shall overcome! Gold is a champion! Gold is a gold metal winner! Go gold and silver...sock it to the indices...clobber them....beat them down..smash them...make cry babies out of your detracters....go gold!:applaud:

I don't log..journal..or any of that stuff...just never have like doing it...however, if i am in the mood i will make live annotations on my trading chart. Here is one for today in the ES with more notes than i would usually put on it but for explanations sake i add more. This is ONE technique i use for scalping. I look for possible trend reversals and try to get at least 1 leg of profits but more if possible. Try to keep reward to risk at least 1:1 perferably 2:1. I manage trade by initial stop loss and actual stop loss. That is i am willing to exit if my actual stop loss gives me at least a 1:1 and a positive traders equation. That way mathematically i know i am ahead of the game. In other words, say my initial SL was 2 points and my initial profit target at least 3 pts. . If my actual risk ends up being only 1 pt then i am will to exit at a 1 point profit if price action after entry is lazy..slow...terrible. In slow markets i take what it will give me not what i necessarily want. But i do strive to keep my R:R ratio good and my traders equation positive. Some notes about chart: Horizontal brown heavy lines are support and resistance off 15 minute chart and of course high and low of previous day. Green line is an 20 ema. Blue line is same 20 ema but where the 20 ema would be on a 15 minute chart. Pink looking line is same 20 ema but where it would be on a 30 min chart and purple line is where it would be on a 1 hour chart. This just saves me from flipping back and forth between charts to see where price is in relation to each time period in terms of a 20 ema. The gray line is a sma 89 basically it indicates the general trend of the day and normally it is best to get in shorting mode when price is below both the green line and the gray line. Generally you like to see the green line below the gray and price below both. When like this i focus on short side mostly. Not to say i wouldn't take an occasional long scalp but i wouldn't follow it too far. For trades on the long side you want price on top..then green line..then gray line. That is, one focuses on long techniques. Again..that is not to say you can't short but you just know you can't follow it too far unless things change. Todays trade was a short taken in the "long mode" therefore, i didn't want to follow it too far. It took about 13 bars to get to the exit and had one pullback that almost stopped me out. Nevertheless, i was able to scalp 2 pts and keep a decent R:R ratio and a positive traders equation. When shorting in a long mode just grab what market gives you or yo can easily end up giving it back. Red..pinkish square is initial stop loss. Blue is entry. Brown square is exit. The pink looking channel and wedge lines are self explanatory. Maybe this will be interesting to someone ...if not just throw it in your delete pile :rofl: :rofl:

hello mr windbag..where you been?

How do you control your failures? Or can you even do such a thing? Maybe not.. but there is a measure of control on the damage your failures can inflict on you. So..how do you control the damage that can be done through your failures while you learn success?

obvious. Agree. ...time ....money...learning..failure...success..shades of gann..the symmetry of success...

Trading is a business rampant with failure. HOWEVER, EVERY FAILURE BRINGS A TRADER CLOSER TO SUCCESS. If he can learn from it.

Tony Could you post the same chart but 5 min and in candlesticks .....lblack for bearish sticks and hollow white for bullish? Thanks. I net scalped 4.5 points out of ES today and 6.25 out of the NQ and i missed much of the best scalping opportunities as i was traveling and it isn't a good idea to trade and drive at the same time. So, i had to trade when i wasn't driving and missed the best swing (two legs or more) scalps which would have given even many more points. I made 8 trades 6 winners two losers...i could not imagine no scalps for two days. I suppose you are looking for just ONE particular setup? Or is it more than one? I look for several. However,..so far you have 4 winners and no losers so i can't argue with that...just saying it would bore me in a terrible way to not take even one scalp over a two day period. Patuca

My only advice is never do what I say do and certainly never do what I do. Thirdly, never believe what I say about the markets. Fourthly, I am as hard headed as a knot on a log. Trading the markets requires deep thought and meditation...a brave heart...observant eyeballs...the ability to detect the underlying....have you done your meditation today?

Handle, With those scalps how can you go two days without any setups? doesn't mr joseph have more than one setup? you mean you sat there all day for two complete days looking for one setup? if so, you best make haste and load the boat when you do find a setup.

Mits is there a devil?

Is it easier to guess where price will be 15 minutes away ...5 minutes away...2 minutes away...or 1 day away...1 week away..1 month away...1 year away.? Or is it equally as hard to guess price one minute away as 1 year away?

why is gold a bubble and the indices aren't?

Meditate..meditate..think