Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.
firewalker
-
Content Count
1461 -
Joined
-
Last visited
Everything posted by firewalker
-
Stop moved to 540.
-
Keeping a log is a good idea for these things. But whether you trade better on the short or long side, is often a result of the current cycle the market is in imo. For example, last year's parabolic rise pretty much screamed for the long side...
-
I've gone over some of my charts from the past, and although I've only on occasion used the word 'midpoint', I've noticed how often I have lines drawn on that particular level to indicate 'potential reaction'. Your boxes provide an interesting (new) way of representing information. It prevents traders from having too many lines on their charts, although personally I still pretty fond of my horizontal ones...
-
Nice to have you on board with a short... especially when everybody else here has been long. was starting to feel lonely :o Now just hope we're right!
-
The numbers had a positive effect on the market. I'm now looking to see how long this 'effect' lasts... Looks like you might have a chance at a re-entry smbtnt... (or, I might have a chance of getting stopped out breakeven :\)
-
It can be difficult to pinpoint the exact entry... too early means wider stop, too late is chasing price... you saw what happened to my first short. Practice makes perfect, but I definitely need some improving on that matter too. Existing Home Sales in 5 min though...
-
<-- this is not a duplicate, I'm shorting again at the same level I think I might have been victim of stops been taken out... Or, more correctly setting a too tight a stop :crap: it probably needed some more breathing space for the market to open
-
out -10.......
-
DOW short 12570, stop 80.
-
:thumbs up:
-
That's a really good observation, and I immediately recognize my own behaviour in it. I have tried letting go of "the need to trade" but I still suffer occasional "lapses", especially after I had some unexpected losses. I start looking for trades that aren't there, or higher risk trades. Since I gave myself the rule to make no more than one (or two) trades per day, things have gone a lot smoother. Although walking away from the screen, when you 'feel the need' is, imho, escaping the problem. I think in the end it will benefit you more if manage to hang around and sit on your hands. At the EOD you will have learnt to control yourself. No one is saying you have to hang around the screen all day obviously... but controlling emotions seems better than just ignoring them or avoiding them, because in the end they will pop up again. Your observations of yesterday are a particularly good example... perhaps it would be interesting to discuss what we can do, in order to prevent ourselves from overtrading and revenge trading. How do you, or anybody else, handle it?
-
Days with the greatest gain (net and percentage wise): http://www.djindexes.com/mdsidx/index.cfm?event=showavgstats#no3 Days with the greatest loss (net and percentage wise): http://www.djindexes.com/mdsidx/index.cfm?event=showavgstats#no4 It's remarkable, that aside from 1914 and the crash in 1987, the greatest gain days are all around +/- 10%, but the worst days are actually smaller percentage wise.
-
Interesting article: Why markets fall quicker than they rise
-
I think that's a good point... fear is imo a greater emotion than greed. Markets are just a representation of human psychology, right? Still, JT1 put forward an interesting question. We should back up what we "feel" or "think" by some numbers. Just out of curiosity, I'd like to know about how sharp rises and falls generally compare. It's also interesting we always talk about "selling climaxes" but a buying climax is mentioned far less...
-
Introduce Yourself Here - Don't Be Shy!!
firewalker replied to trading4life's topic in Beginners Forum
Thanks Lee and welcome in the new environment Always enjoyed your posts, hope you find your away around here as well. There's also a blog function here, which is in fact the same as on T2W. I've opened one myself. Good trading. -
... but with all you guys taking longs, I can't help feeling you are paddling against a very strong flow. It just hit my short target from yesterday though... (560)... still contemplating holding overnight! Good trading all.
-
Thanks for posting! Any comments are appreciated If you're asking WHY then I think the answer is not as important as to realizing it is happening. At some point S/R will fail to act as S/R (probably because the supply or demand at that level isn't what it used to be), but I don't think you need to predict when that's going to be. Why not go along with the market and for the market to show it's hand? For example if you're short and market hits support, you can take off some of your position. Or you can wait to see if there is any reaction. Does price pause? Does volume take off? Does it bounce strongly? Does it pierce through but comes back? The more I think about it, the more I realize how risk/reward, win/loss, expectancy, sharpe ratio, etc, etc... are all distractions. So are you saying you need level 2 to trade a market in order to achieve a high number of wins? I think 'supposedly' is the right word in that sentence
-
That's not a problem erie, I don't trade FX neither, but a chart is a chart
-
I'd be interested in some examples of that... I realize that, but I prefer not playing the range more than one or two times. It's easy to have the false breaks or spikes caught you offside. And wider stops aren't always worth it, especially if there's no sign of a break coming anytime soon. Respect My Authority! (with Cartman accent) Show me some statistics by morning
-
Sounds logical. Was afraid this question was going to receive a different style of comment from you, wasp
-
pretty much as expected, although I had hoped the range to widen up a bit...
-
Btw, does NihabaAshi still post here, I seem to remember he was a clever guy over at ET... Just found this related thread... http://www.traderslaboratory.com/forums/f34/how-do-you-spot-reversals-893.html
-
I'm sorry but I have to say... why the hell short it? Just because it was at resistance? (a) you were in long, nicely positioned (b) the last swing low signaled strength © look at how the middle of the range was exactly where the latest swing held (50% retracements are also very common) (d) this was 4th or 5th time at resistance => increased odds for breakout in my experience (e) the move prior to that was up... if you look at this from a bigger timeframe whole this 'range' from 161.50 to 163 will look like a congestion, which often leads to a continuation, especially after a reversal took place from around 159. I know your exits are entries, but you're making a hell of a lot effort + a lot of extra trades imo. I'm not saying the SAR is by definition wrong (I've seen it work nicely myself), but perhaps you should filter some out ... Was the short a valid signal or was it more a "couldn't resist and felt like scalping some" trade? :\ PS: I hope some of the other guys join in as well to discuss this.
-
For the sake of the example, let's assume it's a 5 min chart... Here is a 2-day 5-min chart with candlesticks, without the overnight, up to the point I showed on the first chart. And another bar chart from the previous day, at your convenience If you wish you can use the 5-min chart, any line that you would draw from the top of the second day would still be breached and it looks similar imo, so doesn't matter much.
-
exited other half manually at 630 for +38. Net weighted average result on this trade: +49 points.