two a'hole trades trying to chase losses
two a'hole trades trying to chase losses
hi Tim,
yes, not easy to read tonight??
CNBC says overall volume low today awaiting earnings next few days.....
maybe prices can be pushed about more on nights like tonight...
maybe it's just one of those nights...
cheers
Glen
running total
total tonight = -$1,062 (biggest one day loss yet)
total total = $2,759
only good thing about tonight is my new spread sheet helps keep track of trades more easily.....
biggest intra day open trade draw down happened today also (-$1,100)
belflan
total tonight = -$1,062 (biggest one day loss yet)
total total = $2,759
only good thing about tonight is my new spread sheet helps keep track of trades more easily.....
biggest intra day open trade draw down happened today also (-$1,100)
belflan
Addition to trade preformance monitoring
Addition to trade performance monitoring
hmmmm, started thinking about yesterdays trades,
the aapl trade was one of the biggest losses (and intra trade draw downs) I've had so far trying to scalp.
I started thinking, well maybe it's got something to do with the indu macci levels on at my entry. went back through all my trades and entered the macci level of the indu at the time of trade entry into my spread sheet. didn;t ready show much up (as i'm really interested in the turn not the number)
(penny dropped) all I'm trying to do with the macci, CNBC etc is = READ THE MARKET DIRECTION
Therefore, i've now add another few columns to my trade record spread sheet, which shows the indu value on entry and exit of trade. (CAN'T BELEAVE I DIDN'T THINK OF THIS BEFORE NOW)
looking at yesterdays trades my reading of the market it's self was ok,
allowing 1pip for spread (no commissions allowed, don't know what they would be for futures) I would of made 22points.
makes me think, perhaps trading the indu it's self could smooth out losses on days like yesterday, when my reading of the market is ok, but my reading of the stocks is not,
hmmmmmmmmm, keep thinking
belflan
Addition to trade performance monitoring
hmmmm, started thinking about yesterdays trades,
the aapl trade was one of the biggest losses (and intra trade draw downs) I've had so far trying to scalp.
I started thinking, well maybe it's got something to do with the indu macci levels on at my entry. went back through all my trades and entered the macci level of the indu at the time of trade entry into my spread sheet. didn;t ready show much up (as i'm really interested in the turn not the number)
(penny dropped) all I'm trying to do with the macci, CNBC etc is = READ THE MARKET DIRECTION
Therefore, i've now add another few columns to my trade record spread sheet, which shows the indu value on entry and exit of trade. (CAN'T BELEAVE I DIDN'T THINK OF THIS BEFORE NOW)
looking at yesterdays trades my reading of the market it's self was ok,
allowing 1pip for spread (no commissions allowed, don't know what they would be for futures) I would of made 22points.
makes me think, perhaps trading the indu it's self could smooth out losses on days like yesterday, when my reading of the market is ok, but my reading of the stocks is not,
hmmmmmmmmm, keep thinking
belflan
Last edited:
nine
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Hi Glen,
Not sure if it is 'great minds think alike' or 'fools seldom differ'.....however, I too, did reach the point where you are currently thinking. Maybe, I thought, that it would be more productive if instead of trading equities, I just used the MACCI's and traded the DIA.
I did have some very good successes, but, I found the commissions ($20 round trips), frustrating and did revert back to the AAPL's and RIMM's, where you get the violatility at less cost.
Just my experience.
Cheers,
Frank.
Hi Belfan,
I did not trade yesterday -but one thing I have noticed - non trending days behaves quite like 'lunch hour' for most of the day-i.e. lower volume/unpredictable stock moves- hence very few opportunities-on these kind of days-how about making an entry only when the Indu 10 min goes to an extreme (top/bottom-as per past) and make an entry when it turns at that point? Avoid lunch hour like plague!
Looking at the screens yesterday- it appears that there was only one opportunity at around 1950ish UK time to go long.
Pl. let me know what do you think?
Raj
I did not trade yesterday -but one thing I have noticed - non trending days behaves quite like 'lunch hour' for most of the day-i.e. lower volume/unpredictable stock moves- hence very few opportunities-on these kind of days-how about making an entry only when the Indu 10 min goes to an extreme (top/bottom-as per past) and make an entry when it turns at that point? Avoid lunch hour like plague!
Looking at the screens yesterday- it appears that there was only one opportunity at around 1950ish UK time to go long.
Pl. let me know what do you think?
Raj
reason for aapl trade
I think the market is weak tonight
5min macci turn
5min macci now turning up
thinking about an exit now
Oscillation against Trend
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we have discussed this many time on this BB ,, I think members still have problem so I thought to contribute some thing .
Before we go further , I too can be wrong no matter how many years experience i have behind me ,, so please understand that no one on this planet has the crystal ball and no one is correct all the time,, you really must understand this otherwise you keep looking for the rest of your life for the holy grail .
Tell tale signs are.
1) IF MACCI 5 min move from OB to OS how many points did INDU fall ,, if not many then the market is strong,
2) IF MACCI 5 min gets OB do you immediately get a SPIKE,, if yes then odds are that market is strong .
3) if MACCI 30 min and 10 min are getting OS then market gains strength.
4) if all European are in positive then the odds are that US closes in positive too.
The most obvious strong day nearly always INITIALLY sells off and it has to because all human have 2 legs 2 hands and same mind so the market gets flooded and market plays it weak to flush the WEAK HANDS .
5) Donot move in too early ... if you want to go long make sure you have back up , your back up is 30 and 10 min OS and 1 min trending up/ of course this is ideal set up but most traders donot wait for ideal set up . ( like myself and some times pay a hefty price too ) .
6) donot underestimate the power of 10 min indu .
7) end of a trend is often signaled by a SPIKE,,, in fact it is the second spike from high of the day which signals the end of the trend.
8) if market gapped up but went below LOW of the day then you are guaranteed the market will sell off later. ( and visa versa) This is important
9) if 30 min , 10 min , 5 min all heading different directions then the odds are NO ONE knows what is going on ,, trading under such circumstances is like playing roulette.
so wait for confirmation . This is the whole concept of multi time frame analysis .
we are going through a difficult times due to excess news attacking the market,, some news have the power of de railing the market. try to understand this and stop blaming your strategy or your analysis,, just accept it as fact of this business.
Grey1
sorry Grey1, gonna steel this, and put in on here as well
thank you
--------------------------------------------------------------------------------
we have discussed this many time on this BB ,, I think members still have problem so I thought to contribute some thing .
Before we go further , I too can be wrong no matter how many years experience i have behind me ,, so please understand that no one on this planet has the crystal ball and no one is correct all the time,, you really must understand this otherwise you keep looking for the rest of your life for the holy grail .
Tell tale signs are.
1) IF MACCI 5 min move from OB to OS how many points did INDU fall ,, if not many then the market is strong,
2) IF MACCI 5 min gets OB do you immediately get a SPIKE,, if yes then odds are that market is strong .
3) if MACCI 30 min and 10 min are getting OS then market gains strength.
4) if all European are in positive then the odds are that US closes in positive too.
The most obvious strong day nearly always INITIALLY sells off and it has to because all human have 2 legs 2 hands and same mind so the market gets flooded and market plays it weak to flush the WEAK HANDS .
5) Donot move in too early ... if you want to go long make sure you have back up , your back up is 30 and 10 min OS and 1 min trending up/ of course this is ideal set up but most traders donot wait for ideal set up . ( like myself and some times pay a hefty price too ) .
6) donot underestimate the power of 10 min indu .
7) end of a trend is often signaled by a SPIKE,,, in fact it is the second spike from high of the day which signals the end of the trend.
8) if market gapped up but went below LOW of the day then you are guaranteed the market will sell off later. ( and visa versa) This is important
9) if 30 min , 10 min , 5 min all heading different directions then the odds are NO ONE knows what is going on ,, trading under such circumstances is like playing roulette.
so wait for confirmation . This is the whole concept of multi time frame analysis .
we are going through a difficult times due to excess news attacking the market,, some news have the power of de railing the market. try to understand this and stop blaming your strategy or your analysis,, just accept it as fact of this business.
Grey1
sorry Grey1, gonna steel this, and put in on here as well
thank you
