STOPPEd 1327.25 I SUCK, I CAN'T TRADE FOR SHIT I HATE MYSELF. kiddin , ok, thats enough trading training for the day. Going out for BBQ, the markets going down today though, I have no skills in shorting.
If they do, they will give signals of impending weakening PA...so far we've seen no weak PA post Bernake announcement (as of this post), I'm not sure what the heck you are looking at but at least your risk is small.
That's because you were trying to short a mkt that was going straight up at the time with very small retraces after each new high. Almost impossible to make money that way. Enjoy your BBQ
Was a good call Cooolweb. I will give you credit where it's due. My only contention was why try and guess a top while the mkt was pressing higher. 133.18 was the previous high on 7/11....that's the first technical spot to be looking short (if the short side is what you are looking to play). The first sign I had of waning momentum was when the SPY pulled into the low 133.00's. That was a clear break of the up pattern that had developed. From there, I eventually got a short signal at .96 and hit it to .69. Got a long signal there some minutes later at .70 and clipped out of half at .90 and stopped the rest at .75. I had a short signal then at .64 and took a .06 loss on that one but then got another short signal at .64 and rode that one down to .20. Got one final long signal at 3:10 that needed to trigger at .28 but never did so no trade was placed. Didn't have anything else but still a good day.
coffee king 39.53-54 stop ~.11 cents 600k =========== fireplace, I had no intention of making money off of the downtrend. The volatility is hard to risk control. There are a lot of trades that are easy to predict, impossible to enter. As for your question, on what showed its hand, long term charts.
Long term is kinda vague. The high two days ago was a good spot....do you have another time frame that you were using and what about that frame showed it's hand to you?
Cooolweb, take that post and print it out. Take a chart and run a bar by bar replay, take note of volume. This will help a very great deal if you do the homework assignment.
rcgtrader. u a stupid fuck or what? first of all price is not traded like that. #2nd. dont tell me what to do when u dont have a fucking clue. ridicolous.. blind tryin to lead the dood with nightvision goggles.