Thanks guys! Yes I noticed he called DT's a few times this way too (and DB's) but i never found a post where he explained it... Perhaps a a combination of LH, 1-2-3? To me a DT is a persistant seller/sellers (strong resistance area bulls can't break, very visible on the T&S) whereas LH is a bull trap (not as strong resistance) - ie. i would not play it like a DT. M top maybe with a lower high that makes it more reliable? i
Scalping with a range chart set to 1 point range I'm looking at this type of charts lately and I like them for quick scalps
thanks for the feedback regarding stops. I realize most here use manual stops with S/R levels. However, IF one were using a automatic type of stop system, what fixed point no. would be appropriate for nq, and when would one trail the stop? Thanks.
There's no absolute answer to this question. If you want to figure out something, try using ATR as a gauge. Obviously, the breathing room is going to depend on current volatility. Some people, once a certain level of profits are in place, ratchet the stop up a bit tighter. You need to do some work to see what the answer is for you.
My morning trades I did something very stupid today, it was a decent day in the end but I'm very disappointed with myself I need more discipline , this stuff could have cost me 1 month of trading and even more Yup you need just 1 mistake like that to screw days of hard work I AVERAGED DOWN!!!!!!!!!!!! :eek: ps. Sorry my 1000v chart went down the drain somehow, it's a 1 minute chart
hey mark, at least you have the proper reaction to your mistake! This may not apply to you at all, but if you trade too big (not psychologically ready to trade that size), it's harder to admit you are wrong - thus these mistakes happen... I noticed the long on the TL BO. Anek, seems to short popups that break trendlines, as long as it's just a single HH, he considers the trend intact. (If aggressive you could even continue shorting 2 HH's and reverse if a 2nd HL develops - I think he's done the shorting 2 HH's before though i dont recall him ever reversing a position) hope this helps, i
Hi Mark, You write in response to the gap fill that you are looking to short. Do you notice that gap fills usually reverse? Cheers, i
Mark, Thanks for posting your charts. Looks like buying trendline hits in a downtrend were bad voodo for you today. What is the reason for entering these types of trades against the trend? Are you playing it as scalping to opposite side of a channel? D.
Size was not the problem, I got too confident, and you can see it because I went long on that downtrend channel, that's plain stupid..the channel was so clear.... we should only go long in bull formations, going long without a confirmation is way too risky. I'm not even sure whether shorting the fake BO was the right thing to do, the trend was on my side and somehow was also a failed W breakout, but we were in a phase of congestion and probably sitting on my hands an wait for the next LH and TL rejection was the best play. Heh easy now.