running total
total tonight = -$1,377
total total = $1,381
new record for open trade DD = just over $2,000
new record for one day loss
got the market direction right on first two trades and wrong on last three
still happy that my record keeping is now good, and will continue to be good
glen
total tonight = -$1,377
total total = $1,381
new record for open trade DD = just over $2,000
new record for one day loss
got the market direction right on first two trades and wrong on last three
still happy that my record keeping is now good, and will continue to be good
glen
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Hi Raj, sorry missed your post earlier,
I'm not sure how to make a call on if its going to be a non trending or trending day (before hand, guess thats the hard part)
on the volume idea, I have heard traders say on CNBC that the volume is low, and the market is ranage bound, but it would think of this as being good for this type of trading?
havn't made my mind up on the lunch hour thing yet. If your trading in and out fast then maybe. but sometimes the 10min macci can take 2 hours to go through a 1/2 cycle. therefore not hitting the lunch hour in a trade may be imposible sometimes
not sure about the 1950 entry, I think it's important to be looking at the macci's in real time as they do dance about abit
I have been trying to read macci 10min turns at all levels, since I seen Glenn's post on 10mins macci turning down a low levels (showing market weakness, when I would have been probibly looking to go long in the past at these levels)
cheers
Glen
I'm not sure how to make a call on if its going to be a non trending or trending day (before hand, guess thats the hard part)
on the volume idea, I have heard traders say on CNBC that the volume is low, and the market is ranage bound, but it would think of this as being good for this type of trading?
havn't made my mind up on the lunch hour thing yet. If your trading in and out fast then maybe. but sometimes the 10min macci can take 2 hours to go through a 1/2 cycle. therefore not hitting the lunch hour in a trade may be imposible sometimes
not sure about the 1950 entry, I think it's important to be looking at the macci's in real time as they do dance about abit
I have been trying to read macci 10min turns at all levels, since I seen Glenn's post on 10mins macci turning down a low levels (showing market weakness, when I would have been probibly looking to go long in the past at these levels)
cheers
Glen
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ok, things I would have done differently (after reading Grey1's last post)
1.check the European's, if they were strong (which they were) I should have been thinking US is likely to be finshing strong.
2. look at the higher (30min) macci indu TF)
Glen
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ok Mr.Market (you b*sstard) I'm comin da to get you ha. ha.. ha.... (evil laugh)
new set up now with 30min macci indu
a gap up at open would make for a good short me thinks
tho, intel news very bullish, could up set things (technicals) for the tech stocks, AAPL RIMM and AMZN, not sure wait for open and see
glen
new set up now with 30min macci indu
a gap up at open would make for a good short me thinks
tho, intel news very bullish, could up set things (technicals) for the tech stocks, AAPL RIMM and AMZN, not sure wait for open and see
glen
yep, that was one of trades that done me over last night,
my thinking for this trade was:
1. thought market was weak, spike/gap at open, heading to lows
2. 5min macci turn, thought it was going to bring the 10min with it
also had Glenn's post (attached) in mind, was thinking if market 10min macci did turn off the 5min it would have been a very weak sign.. also 10min macci can jump about abit inter candle and look like it's flating out/turning
http://www.trade2win.com/boards/tec...an-s-us-stock-swing-trades-55.html#post412762
only thing (imho) that was wrong with trade was not know where the europeans where
but hey, i guess that's trading (if that trade had of come off, i've no double members would have been posting 'your great' ' your have master it!')
but the facts are i havn't yet
my reading of the market was wrong (it could have been right, but it wasn't) but it's only one day. My position sizing maybe should be smaller.. but apart for the that, its just one days trading i guess, nothing to worry about (my market reading skills will improve with time)
thanks for your post (hopefully this helps you, (it helps me to think these things throught so please keep asking/posting)
cheers
Glen
