Anekdoten, I wanted to add my thanks to the many others you have gotten for starting this thread. I read the first 250 pages but got impatient and skipped to the end. The best thing I've gotten out of this discussion was convincing me to get rid of my indicators, which was about as hard as giving up smoking, but I did it and I'm way better off. All they were doing were confusing me and causing me to hesitate. My sincere thanks for that. I noticed you started with YM, then switched to ES, NQ and now ER2. I came to the conclusion about 6 months ago that ER2 provided the best profit potential, although the action can be a little hair raising and I got chopped up pretty bad trading ER2. That, combined with it moving to ICE at some point, convinced me to switch to ES. But now that you're considering ER2, I'm thinking maybe I was premature in switching. Are you concerned at all about the move to ICE? Another thing I wanted to ask about was bid/ask size. Do you pay attention to that at all? It seems that when there are like 3 times the number of bids compared to asks it would not be a good time to short, but that hasn't always proven to be the case. What do you think?
I got a question for you Anek. I know the double tops / double bottoms are intra-day swing trades and not scalps. I was curious as to whether or not you played the DT / DB failure trades you take as longer trades as well or if you possibly reform to some form of a scalp because you've ended up taking the failure of those setups instead. Might as well post what got my memory stirring and asked how you might have played this as well. If I remember right, I should have shorted somewhere in around my red circle. Thanks! ~Cx
...the market is often counter-intuitive in nature... the scenario you described is typical within a downtrend, the confirmation of which can be found on the T&S...
Anek Hope you're chillin'.... Does this qualify as an elusive "M" bottom? Would the 1st swing need to be lower than the 2nd for it to make your endangered species list?
Hello I have compiled few notes from this thread. Maybe its useful for others. Thanks Anek for the thread. Best Wishes NT
Nice job! Now I can get rid of the 50 post-it notes I have all over my desk! My wife hates those! Thanks swingnifty!