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clmacdougall

Market Wizard
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Everything posted by clmacdougall

  1. clmacdougall
    Would you please define "sequential swing " I wish to ask you a question but need to be sure of how you personally would draw your swings first. Thank you.
  2. clmacdougall
    Funny story...... bought and read 4 of Joe Ross' books. Sold them off through amazon, one of the people who bought one of his books from me was Conrad Black!!! Had to send it to him while he was in prison in Florida. Hope it works for him!!
  3. clmacdougall
    I've got my suspicions you're about to be in some deep doo doo. All the best.
  4. clmacdougall
    Onesmith, we've all been put down and rode over on this site and potentially done it to others, knowingly or not. Let it go, forget about it and become an accepted part of this community by doing so. The friendship and comradery found here far outweighs the bad and if you show yourself to be mature in this matter it'll only pay you back. All the best
  5. clmacdougall
    The June Dow futures contract should be traded from the long side until and after it breaks above 14,823, and as long as it does not move below 14,626 after breaking above 14,823. IMHO. If you've taken profit on your first contract at 14,698 after buying at 14,505 then use a conservative protective stop now at 14,626 in order to guard your profits as you trade with 14,823 in mind. All the best.
  6. clmacdougall
    Those trend lines can bite you for sure, there's no way you're still in that trade!
  7. clmacdougall
    Thanks Db, I'll read through the thread for sure. All the best. Note: if anyone else has suggestions on resources, please let me know via PM and I'll add it/them to this thread. Thx
  8. clmacdougall
    Wondering if any people interested in Wyckoff are going to read or have read,"Trades About to Happen: A Modern Adaptation of the Wyckoff Method," by David Weis. Looks like it might be good. I'm thinking of purchasing it but am looking for some input first. Thanks I haven't read it, but knowing what I know about Weis' approach, it appears that the "thrust" of the book is not substantially different from that in the Trading in Foresight thread here. And whereas Weis' book is $46, the TIF thread is free. If one knows how to draw a box and a straight line, there's no great mystery to this. The challenge is accepting how ridiculously simple it is.
  9. clmacdougall
    Another shake of weak longs on the way to 14823.
  10. clmacdougall
    I refer to the last line of your post, "Context is king" Please understand the advice is concerning buying long only contracts as price moves down. A protection against stagnation is to write a call option. If price moves down, it works for you, if price does nothing it works for you, if price moves up you are selling your contracts which you had bought as price previously moved down. Just my opinion.
  11. clmacdougall
  12. clmacdougall
    Your method is outlined in the book "vibratrading". This is not new. Hedging your positions by writing options is how he deals with price stagnating in his buy only vibratrading system. Have you read this book?
  13. clmacdougall
    Still sticking with my original call on this one, sorry but trendlines are too subjective an art to believe in or quantify in my opinion. 14698 then 14823. The ES broke out of its downtrend above 1570.75, but nothing to lean on yet for a trade on the long side. Just my opinion.
  14. clmacdougall
    Great job!! Told you it was going to move up quick!!
  15. clmacdougall
    Same trade is still on. New stop at 14393. Same entry as before, same targets. Such is the nature of the markets, no predicting, only preparing. One thing has changed, you are now with the strong longs if you are in this trade, all weak longs have been shaken off, watch for price to move up quickly!
  16. clmacdougall
    I do agree that you must remove subjectivity in order to find tradeable structure that is repetitive in nature, but how are you sure that your key "pain points" aren't subjective as well? Are you sure that the behaviour of traders found on a chart when studied objectively can't reveal an edge? All time based charts offer an almost infinite number of possibilities and become nearly impossible to quantify as you are right, they merely show momentum, but nobody said that was the only type of price chart you had to draw conclusions from!
  17. clmacdougall
    Perfect entry tonite at 14506. It's a double leg pullback captured within that clear upleg from 14361 to 14823. It just broke above a previous high after the 2nd downleg. 2 contract trade, target for first at 14698, and 2nd at 14823. Stop at 14402, just below 2nd leg low.
  18. clmacdougall
    Look at the last low pivot before the highest high in the day timeframe. It occured on Mar 27 at 14,364. That has effectively been broken on Apr 5 as the market broke to 14,361. Support was broken and the uptrend is over until a move above 14,610 can occur. You are now in the best contrarian setup possible while the major break has not yet happened, you are near the high while support has been broken.
  19. clmacdougall
    In my estimation this has broken the uptrend until further notice and can be shorted now on a lower low on a day timeframe. A brake below 432 is now a short opportunity, but that must occur before a higher high than 610, hopefully a higher low will be established over the next few days to trade against, moving up the short entry higher than 432. Discovered that method from Mark Rivalland' book " Swing Trading", another great read!! If your gutsy you may even look to short the break of an intraday low pivot/congestion area like maybe the consolidation around 500.
  20. clmacdougall
    Yes it's 5 min bars but I believe its CST.
  21. clmacdougall
    The object in swing trading is "I think" to trade for one clear swing. Your style of trading is a mix between swing and position trading. I personally feel you should have exited at the mid 60's. If you have the time, please buy and read "The Art and Science of Technical Analysis" by Grimes. It will help you immensely as it is written for the swing trader. An excellent read for your style of trading. It will really help you to define targets. Brooks 3 books on trading PA are comprehensive to say the least, and poorly organized from a writers or students perspective. But he doesn't claim to be a good writer just a good trader. I saw a 'double leg upswing' contained within a 'lower leg with trend downswing' that led to a short opportunity on a lower low of what Brooks calls a 'high 2' . It developed when the 8:20 bar broke below the low of the 8:15 bar. Have a look and tell me if you can figure it out. I tried to alert you.
  22. clmacdougall
    You are close to an Al Brooks setup, let me know where you stand right now.
  23. clmacdougall
    Are you still holding that short or have you flipped long in the mid 60's?
  24. clmacdougall
    Good call!!! It's at about 372 now, let's see what happens at 364.
  25. clmacdougall
    Look at the pivot lows of 364, 309 & 269 it would have to pierce through before a straight line run down to around 14,000. Just my opinion!!
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