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goodoboy
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Everything posted by goodoboy
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Thank you, I never even once thought about NQ, although I see others on TL members mentioning the NQ. I just have just come so familiar with ES, I guess the price action is the same no matter the instrument, right? I think this will increase my learning too looking for setups on NQ. But I don't know what to call setups if I am just buying and selling off supports, resistance, supply, demand, and price retracement.
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Here is just an example of short I missed. But, I wasn't paying attention, but these are types of setups I look for. However, I don't know what to call this type of setup. In the picture, there is supplyline connecting lower highs. Then there is an intersection where the supply line and the 1404 (resistance struggling to break all day), at that moment I would have traded short because price action run into encountered supply line and resistance. What type of setup would this be called? Is this trading from price action reversal? I know its hindsight, but that is a good short IMO.
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So today ES price action broke out of the range (1392-1404), only to return back within range after struggling the pass the 8 hours to stay above HOD yesterday (1404). IMO, although the overall trend is upwards, that sellers are taking advantage of any pop-ups and the longs was a bit challenging today although decent economic data dismorning. This suggest to me not be afraid to put my shorts on even though trend is upwards at the first sign of weakness like price action behaved today from the open. Today, I can count about 2 shorts I missed today.
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Thanks, i need to read-up on supply/demand lines, because for the last 4 months, I always thought everything was a trend line. I reading your preview where its explained.
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Thanks. HAHAHAHAHHAHAH Yes, mine are not big enough to short right after break. Yes, there was another entry, but i missed not paying attention.
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I drew some supply/demand lines on the chart attached. I wanted to go short after break of the demand line. Price action broke and then re-tested. At that time I should have took the risk with short entry. I use to mistake supply/demand lines for trendlines, so did I draw the supply/demand lines corrrect?
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Are New Traders Who Are Successful Hated ?
goodoboy replied to GlassOnion's topic in Beginners Forum
You are right. There is SO much out there that steals a newbie focus. I dunno, I am with you, I will just watch the price action and learn this first. I think new traders focus on the profit first, its a big mistake. Focus on the skill and make it simple, then move toward a more define method. The biggest mistake i made was using my real cash from the beginning. By all means, do not do this. -
Are New Traders Who Are Successful Hated ?
goodoboy replied to GlassOnion's topic in Beginners Forum
I am new to trading ES. And I think if you have a plan and LOTS of advice (thank you TL) from the beginning you will be fine. I also, think that simple for beginners is the key. Also, paper trading with reachable goal before live trading is important. I am paper trading until I know what the heck I am doing. -
Yes, that the same I am thinking, just standing aside for now. The channel broke last night and held the upper channel. Now just sitting here.
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exit trade at 1404.50 after a weak open.
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long 1406, stop 1403 (but will manage and exit if price not break HOD yesterday) Target: 1416. But need to see 1410 break first. Reason: trend is up. buying off pivot support and broke out of channel Db showed yesterday.
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I'm slowly fading the slow stochastic out the picture.
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Close the trade at 1402.
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took at long at 1397 after a minor break out , and then backtest, stop at 1395. Target is 1402, but need to break 1399 first.
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Thank you, Which second time price are you referring to? Which S?
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Db, What happens in case like the attachment where the supply line broken, yet no retest of the supply to consider the long?
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Breakeven as price did not break HOD on Friday.
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long 1399.25, stop 1397.25. target 1404 Buying off demand line and pivot point.
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Thanks Db, Can you please provide the link to the preview pdf? The currently is not working for me. I really appreciate your contributions to on this website. You have lots of good posts on TL regarding Price Action trading. My question is where can I start for some grounding? Currently, I am reading the The Wyckoff Forum - Traders Laboratory, but interested in your book for a more structured reading. Thank you,
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Thanks, I am reading your thread (http://www.traderslaboratory.com/forums/wyckoff-forum/3877-introduction.html) for Richard Wyckoff because I think so far this is how I want to trade as it makes sense to me.
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Thanks Db for the analysis. I got all your charts and links for more reading later on. I been out of market action today due to some errand to tend to. Today, I see was a good day for learning.
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The links you provide are really good information and its all at TL. Good reading for me in the spare time for understanding. I'm just getting home from some work.
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Thank you kindly, Just what I was looking for more detailed reading.
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bakrob99, I need another laugh! What about all those head and shoulders, inverted Head and shoulders, evening star, candlestick patterns? Did you let those go too? Just asking.