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Patuca
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Everything posted by Patuca
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not sure on 15 min Es charts as I trade 5 min ES charts. in a bull trend with a pullback. When in the pullback use two charts. use a 5 min ES chart. open one up with your indicators on it i.e. overbought/oversold etc then open another chart in a second window but make it the emini naz. make this second chart a Heikin Ashi 512 tick chart. watch them both. when you see the ES chart get into oversold in the pullback and the Naz chart starts trending up consider going long. usually the emin Naz will lead the ES when trend changes. reverse the process for overbought conditions. you might play around with this concept on a 15 minute ES??? now to answer your question. ifthe emin naz chart is NOT trending up I would not buy the oversold condition. If it is I would.
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If I Hear "price Action" or "setup" ONE More Time...
Patuca replied to joshdance's topic in General Trading
guess the mitsubishi challenge had him leaving in a huff. capitan rogelio and the two volunteer traders! -
If I Hear "price Action" or "setup" ONE More Time...
Patuca replied to joshdance's topic in General Trading
Roger, ...you little egotistical tamale ...mitsubishi could probally sit in a black box and out trade out you any day. if he fails i could jump on my bicycle and come up there. -
mitsubishi must hate himself :rofl::rofl::haha::haha::
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http://thepatternsite.com/index.html
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...man...... the only rotation in the markets is from your pocket to their pocket and occasionally from their pocket to your pocket:haha:
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back testing don't mean squat. forward testing means a little more. but not much more.
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what about this viewpoint? shed any light?...taken from WHY? on thread "beyond taylor" Post #230. maybe he won't get p$ssed. Four stages.pdf
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with all those flames burning up the price nothing but ashes will be left.:haha:
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I received an email (unsolicited) from this company. I have never traded the Forex. Is this a scam? Why would they do this? Anyone ever heard of Apiary Investment fund? Here is the link they sent me. They claim to teach one to trade the Forex and they will provide the funds. http://www.free4xwebinar.com/land/za1r2v9y?utm_source=emailmarketing&utm_medium=email&utm_campaign=actionrequiredgkreissmana3112012&utm_content=2012-03-12%2010:24:24 Thanks for any info or knowledge you may have on this company or offer. I am not sure if I am allowed to post a link like this on the forum? Actually I have never started a thread at all on Traders Laboratory, to my knowledge. I am mostly a lurker with an occasional post of my own. If posting this link isn't allowed I guess the moderator will take it off. In such a case I think one could just google the company. Apiary Investment Fund. I never heard of them before.
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Hogwash. The market doesn't know nor care if you are rich or poor, humble or overconfident, arrogant or just plain stupid. The market is the market and the market is simply going to do whatever the market does. That said, overconfidence is an attitude that will open the door for you to shoot yourself in the foot. You will be prone to mistakes that you otherwise wouldn't make. You better worry about being overconfident. You better worry about being poor. You better worry about being arrogant. You better worry about being stupid. You better become a worry wart. Bigtime. Remember the case of the man who said.."I wrote a book called..Humility and how I obtained it"...... When I say "you" I am talking about any of us and not anyone in particular.
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If it could be done with present technology it would have been done already. A long time ago. That doesn't mean it will never be done. Bottom line trading is an art with too many variables. At the present programming can't get a grip on all the variables and make something meaningful out of it muchless make it work consistently in the real world of trading. That said, programming can help with some of the more basic tasks and calculations involved in trading. However, one day, someone, just may figure it out and we can all sit back and at our word (or push a button) our bank accounts will fill up with dollars. But as soon as that happens others will figure out ways to stop it and to get money out of our account and back into theirs.
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It may be meningless to you but it isn't to me. As to the other comments well whatever floats your boat. I know what floats mine!
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Again I am not doing what hoffman did/does. I do not double up everytime the market turns against me. And of course I could be wrong the second time too. If so, then the answer is to cut losses immediatley. How many times have you dutifully taken the loss to see the market turn on a dime and shoot right back up. Those kind of losses can add up too.
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Please do share your commentaries. It will be nice to have a lady talking here instead of all these grippy ole men/young men including myself. It looks like to me that with the right brainstuff women ought to be much better at discretionary training using the power of their intuition than us men. So welcome!
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I have done it many times. Double up and it has to go back up (in case of a long position)` a lessor amount to breakeven and soon you are in the money again. Of course, as I stated I would only do this if PA turns bullish and I think it may not be bullish enough to make it back up to my original entry point but it will travel back enough for me to get out at a gain (even if slight). If I think it may well do that then I will not hestitate to double or even triple up. If I am wrong then I will immediately take all losses. It has to move up right away after doubling or I am out. So, I have, many times thrown good money after bad (and I know it breaks all the orthodox rules) and many times..more often than not I have come out with a profit. Doing this has never caused me to blow an account that I can remember and I have been trading since the late 80's. Perhaps it has to do with my method of trading??? I average an 87% to 90% win rate. Anyway it works for me and I am not afraid to use it anytime I think there is a legimate reason to do so. If I don't think there is a reason to do it then obviousley the best thing to do is to take the loss immediately. BTW I don't use a martingale system. This is not standard operating procedure for me in my trading. However, it is a tool I will use if I think conditions warrant using it. I have my rules but none are carved in stone. Only price is the dictator I listen to. This makes my trading highly discretionary and sometimes a gray fog but I am ok with that and it works for me. The market can change my opinion on a dime. I will not hesitate to adapt to it. For others this may not ever work and could be dangerous. I don't know.
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I agree everyone has to float their own boat. I too was simply sharing my point of view. I would be the first to say it will not work for everyone.
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he had no puke point stop.
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Exactly! I could not have said it better. I do whatever the market is telling tell me to do. Sometimes that means doubling up.
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Good question. I don't know if I can answer. All I can say is that it has corrected a faulty analysis more times that it has failed. At least for me. Faulty analysis is hard to put a finger on because even the most perfect analysis do not always work out. I see intraday stops as not carved in stone. I am not the slave of intraday stops. They are simply a tool I USE. The only thing I must be a slave to is PA. If PA has turned momentarily against me but I have good reason to believe it is quickly going to turn back in my favour then I have no problem adjusting my stop and even doubling at what I think is the precise moment to do so. Since I trade almost pure price action I feel I can do this. I have and always will be a discretionary trader. All of my rules are rules but they are flexible to some degree simply because the market is flexible. I can live with that.
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in day trading doubling down has saved me from a loss many times more than causing me a further loss. however, it all depends on where it takes place. if price reaches a support level and hold and turns bullish then it makes sense to do it. The basic idea is price has to travel less distance back up to my breakeven point. And it should be before price reaches my puke point stop. For me it makes sense to use an intraday somewhat flexible stop but have a trade management stop at puke level. Of course one could argue just let the intraday stop take you out. How many of you have seen your stop get knocked out and seconds later price is back up and you are in the money if you wouldn't have gotton taken out. With all the HFT going on nowdays the computers algo's create some problems. I prefer to use an intraday trading stop that is adjustible within certain guidelines and a puke point stop that nevers gets moved.
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If one will simply daytrade the daily movements in penny stock or at longest the longest time frame swingtrade them 2 to 5 days it is possible to have a high win rate on small profits. Of course being brutal in cutting losses is imperative. For instance, say a penny stock has a .05 average daily range. Look to capture .02 of that. Lets say the stock costs .15 share. One invest 750.00 buying 5000 shares. One captures .02 or 100.00. To invest 750.00 for a few hours and make 100.00 is a pretty good rate of return. Do do this one really needs some sort of tool (such trading software) that will give you some idea of the mometum..etc of the movements... pivots..etc Also, one needs a good penny stock broker. And a margin account. Just2trade is a good lowcost penny stock broker. about 5.00 RT basically almost unlimited shares for all practical purpose. When day trading penny stocks grab what the market gives you. Most of the time that will be .01 to .03cents per share and sometimes only 1/2 cent a share. Just be flat at the end of the day unless you are using a swing trade strategy. Look at it this way. If you can buy 10,000 shares and capture .02 you have cleared 195.00 for the day after comissions. Capture .03 and you end the day with 295.00. Capture 1/2 cents and you end the day with 45.00 after commisions. If you have the cash and have a margin account and can do this 2 or 3 times a day you can make a little money at it. The secret is: measuring direction and momentum. Don't be greedy. Cut losses. Don't invest. Only trade pennies with at least a .03 range. Be statisfied with a slice of the range unless there is a big move up and you are`already in. Then ride it until it tanks and dump immediately. Never look back and say I should have held on for more profit. Take your profit and run. Otherwise, you will attempt to hold on ..not cut losses..and take some bad hits. It only takes a few to get you far enough behind it is hard to catch back up. Never take advice ..hot tips..etc. Most are pump and dump scams. Just read average range..trend...momen..support..resistance...pivot points...correlate volume with price..etc of a particular penny and make your decision on those factors. Disclaimer: The above is not trading advice. Just my thoughts on the matter. For informational purpose only.
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Just google nobsdaytrading. Might be helpful to you. cheap enough.
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check out just2trade.com ..unlimited shares 2.50 to buy 2.50 to sell for 5.00 RT
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Wah oun shpay we cha key ya