Patuca

You still gonna keep that stop? You will probally get taken out in night session.

south it tis...if i were you swing trading off a daily chart i would move that stoploss down past 1604.. 5 or 6 point stoploss is too tight for daily swing trading IMO. If you move it down you have a 45% chance the ES will turn back up for you. i only have a 55% chance it will continue south.. I still stick with that view.

hats off to capt bob for predicting gold intraday correcting and making some money for his wife! good job. you nailed that one. we agreed on gold so i guess i am right too?? PS don't tell your wife next time.... i have not heard from mits lately since he was in a bad mood and got on my case over havard english. has anyone heard from him? hope he is ok.....

ok thanks for the clarification. You are definetly still good and may be helped with a last hour surge..if that happens.. Capt Bob is done for the day...wife is out sending money. He is looking at coffee. Got any recomendations for him? I don't trade coffee but i could take a peek at a chart if he would send it. Since he likes intraday trading a 5 minute chart will tell the story..might even have a secret code??

thanks capt Bob...helps the ego...many don't like me...actually i am not in Belize at the moment but in the States in the State of Alabama. I have been doing some fishing on the tallapoosa river. It is nice to get away from people...they make too much noise for me..it is quiet on the river.

WARNING: MM this is getting mighty close to turning the major trend south for the rest of the day. So, are you intraday trading or swing trading from a daily stand point off a daily chart?

yes, i suggest get out if you are doing an intra day trade. Why give back 10 points? It has already dropped down to 1610.75 (almost to your entry) since i mentioned to you getting out. Of course, if you are day swinging and not intraday swing trading then of course it makes sense for you to stay in. I am just not sure if you are intraday trading or daily swing trading? Perhaps you could clarify that? I am daily swing trading and still see the move as south. It is basically still a sideways market from a daily chart. :beer:

capt Bob if you followed my opinion on the intraday gold trade you entered long at 1234.90 (1 tick over fridays close) and if you exited your total position at 1255 as you said that was your max then you made 20.1 points. Gold made a low of 1224.1 so your actual risk was 1234.90 - 1224.1 = 10.8 pts. Your R/R was nearly 2:1 that is a good intraday positive traders equation. You did good ..congraulations! I wouldn't tell my wife next time if i were you. The daily swing trade in gold has so far not materialized today.

LOL i don't trade paper gold....i was just telling you what i would do on a daily swing gold trade and a daily intraday gold trade. You requested the info and if you followed the intraday instructions you made money which your wife is now spending..:rofl: the day swing gold trade has yet to be realized.

If we get an afternoon push up with alot of vol with it breaking over 1630 then MM probally has the direction right and I am toast on this ES trade. But as of now i am still seeing south for the ES according to the secret code in the daily chart :rofl::rofl:n

then on the other hand MM may be playing a swing trade from the daily chart like i am and he is expecting it to continue up tomm and next few days. that would make sense as the chart i posted was a daily chart for all to look at and i indicated clearly my trade was a swing trade from the daily chart when i gave my entry points. I was not sure if MM was referring to an intraday trade for today and a swing trade over the next few days. That was never clear to me. But it would make sense that he meant a swing trade from the daily chart and if so then it makes sense why he is still holding. I am sure he knows what he is doing. I am just not sure if he meant today he would add at 1635 then..1640...etc. I suspect he mean't over the next few days:confused:

LOL women can spend money fast. MM still hasn't gotton out..at least he hasn't reported it. I would have grabbed my 10 points profit. I am still in the ES and expecting it to go down over next few days. My trade was not an intraday trade but a swing trade from a day chart. I still expect the ES to head south. I am not stopped out ...yet.... From an intraday point of view MM hit the direction correct at least partially as he was expecting to add to his long around 1635..1640..and on up. But because of vol if I were him I would grab my intraday profits now. He could always jump back in if it heads towards 1635 which i doubt it will.

Capt Bob have exited 1/2 of your intraday gold position?

MM if i were you I would take my 9 or 10 points profit and get out of ES as vol appears too low to keep driving price up. You did good. :applaud: I am still waiting on the ES. Gold turned out well on the intraday prediction i made and may even turn out ok on the daily swing prediction. Capt bob should have cleaned house by now on the intraday gold?

Entry for long swing trade from DAY chart is 1262.5. Getting close.

Well i can't wait long...nobody is on this thread but me..moving stoploss to 1653 before my previous stop is hit.

:cheers: as concerns my trade in the ES am i allowed to move my stoploss? I made a tactical ERROR in stoploss placement and am getting close to being stopped out. Of course, i am asking before the stoploss gets hit.

capt Bob my previous chopped in half bar pst # 557 refers to swing trading on a daily chart. Now if I were looking at intraday trading on a 5 min chart say for just tomm i would jump in long on any break of the last high (i.e.) one or two tick break. Stop loss if one uses one I would place one tick below the low of the reversal bar i.e. The 1234 bar. Now here is what i would do: Exit one half of position on any two legged rise. I suspect twice the reward for the actual risk is probable. maybe even more. I would exit rest on any decent profit after the two legged rise. Of course, I would manage the trade. I would try to get at least a 1:1 r/r depending on ACTUAL risk, not initial risk (i.e. Stop loss) i would rejoice AFTER profitible trade is completed...cry if i get stopped out.....:helloooo: PS Mighty mouse is sawing his golden golf club in pieces and selling out his gold. At exactly the wrong time. Could you talk to him? He will not listen to me. Few do.

Capt Bob you cannot be referring to me, myself, or I since we use 4 indicators; vol, price action, and two MA. I took a peek at the gold chart. The gold chart is worth studying for short term trading. IMO it is screaming at us that demand (a significant amount) as come in and price is posed for a short term reversal. At least. One may wish to take the last daily bar and chop it in half and stick bottom of it at 1234 but just to the right of the 1234 bar. If price reaches the top of the chopped bar on good volume then a long position has the odds of being profitable IMO and one may want to consider buying gold. Prediction: short term prices headed up. Confirmation will be the chopped bar. One may want to get in early i suppose as the reversal could run out of steam.

we shall see now won't we?

All indicators are lagging. Price and volume are the best lagging indicators.. Nevertheless, team them up together and the shazam you have a leading indicator!

sorry stock market will crash....second real estate bubble has yet to burst banks will crash.. What is coming will make 2007 to 2010 look like a sunday afternoon stroll in the park.

Ok but you probally won't get filled anytime soon:) on the other hand you might while i'm crying...but i doubt it. Are you saying your stop loss is 1602.50?

I am too busy predicting the ES on the gold bullish thread so can't respond at this moment to this thread but capt bob and mr suiya can carry on with suntrader interjecting to keep things going...

trying to mess with my prediction are you? The chart has all the stories built into it. They are already processed there. The chart actually tells the story of what the market actually did. And it tells another secret story...what the market will probally do....next. It isn't 100% simply because new unprocessed stories are in the new future and they have to be discounted in the PA and show up on the chart as such. However, since no one can predict the unknown stories, that are yet to arrive, the only basis we actually have is the chart, with all the processed stories it tells and the secret story it indicates for those who can decode it. But since the market can't discount an unknown story we cannot predict with 100% accuracy. But predict or attempt to predict we must. It is the only way to make money.