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goodoboy
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Everything posted by goodoboy
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long here at 1435.50 from 1434 support. About 3 times hit this support and reacted upwards, so hope it does it again.
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I really need to take this and post it on my computer screen, ice box, steering wheel, and computer mouse. Its true, staying out the middle of the ranges is helping me. Entries, is hurting me and indecision.
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Hello Steve, You can answer this when you get free. Its a tuff question, but how do you know when to use the 3 min vs the 1 min. for the past month, I been using only the 3 min chart with some sucess. I also trade similar to this system by identifying resistance and support lines. Although, my lines are not as good as yours. Normally just price action.
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Thanks for sharing. It doesn't get any better with that.
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exit 2pts. I will take this for now.
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short again 1441.75 reason: I have 1443 as support and its not breaking above, so lets see it come down or up. Will take some patience here.
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i was short 1442.50, but i got out at 1443, after failure to push down lower, so kinda dont know what to do here. So sit on sidelines
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Thanks for the chart. Where is the VPOC at ?
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-1pt, Darn it, should have left it alone.
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long at 1442.50 reason: tight 1pt stop here. I am buying on a retrace to support of 1442. At first price closed below 1442, so wait til price open and close above it and lets see it price can break this 1444 resistance.
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Exit this one for 3.25pts at 1443.50.
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long 1440.25 reason: The opening 1439 is support IMO and so far holding. Price took off from this support and now came back down to retest. So I want to see if 1442 breaks up. If not, I bring to breakeven and continue to wait for market direction.
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Thanks for the chart. So far struggling on this 1449.25. I think market waiting on Ben to talk.
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Got stopped out on that -1pt. Waiting a retest of 1450 to make some decision. Sitting on the sidelines.
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Long 1449 reason: market going upwards and r1 (1450) pivot is next resistance to break. So if I want to risk, i better take a risk long while the market is going up.
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Very good trade. I caught the ES up for 3.75pts from support of 1429. I entered at 1430.25 on the way up. Now, I did see the gap fill at 1434 and watched the retest, but didn't pull that trigger. I think the Giants vs Eagles game was in the way! But, now I regret not taking that short going down. 1429 to 1429.50, should provide good resistance for the nite. Atleast have area of interest for tommorow. Thanks, take care, goodnite!
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Thanks GG. What does IRM and FUBAR mean?
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Thanks Steve, That makes sense. What I like to do each day is take screen shots of every entry I took and missed along with stop loss and exit of trades that meet my requirements. This way I get a daily review of what I am doing and what I missed or gained.
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Thanks Steve, Just a few questions when you get free time to respond. What do you mean by data points? Does this mean 400 candle sticks on the timeframe of my choosing. You are right about this. If I'm not serious or too tired to take the trade, I stay clear away. The patience part is really key. Its an everyday grind for the newbies, but its doable. Here is where I am stuck at. I am trading one contract in sim until I meet my objective. And with one contract, its a bit difficult to take profits early on in the trade and I have to use strict trade management. I am winnig, but its fustrating when I am up 3pts, and price comes back down to breakeven on me. Currently, using 2pts stop loss. The reason I trading one contract is because I read somewhere that its better to trade one contract until the trader double the margin cost of one contract. I do believe if I trade two contracts, I can accomplish more and make better trade management decisions as far taking profits to cover the stop.
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Is There a Strategy Wins 90%
goodoboy replied to Jack Francisco's topic in Swing Trading and Position Trading
If I had a system that work 90% of time, I would let you know buddy. I think you may have to be like me and just start from the bottom and learning the basic. Find you a method to trade first and go from there. Try DBPhoneix thread or Steve's Basic System thread to get through the basics and figure out how you want to trade. I can't answer your question cause I don't have enough experience to know if a system that works 90% of the time exit. but for myself I am developing a Entry and Trade Management that fit what I like. -
Thanks Steve for the effort of posting daily. I like the system and the logic.
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I was stopped out on this one -2
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short 1435 reason: Price action is showing 1435.75 as some resistance since about 5am and so far price tested this level and failed to hold. Im watching to see if price can get back above this line and hold. If not, I would like to see go back down.
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Breakeven at entry. Trading one contract sucks.
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long 1434.50 reason: broke out of range all morning, and getting in on the way up. I did miss entry at 1432 area after range broke out, but atleast now i know the minor trend for the moment is up, so i better get on board. Need this 1435 area to break