095938: topguntrader1... think of RR 095945: topguntrader1... i don't think of anything else but RR 095958: topguntrader1... if a setup has a potential for 3-5RR, i take it 100008: topguntrader1... i can't care less if i get stopped out 161431: ymtrader for the 1st test of a TL, do u evaluate for both TL bounce as well as TL break for r:r or do you prefer TL bounce only 161604: topguntrader1 it is all relative 161634: topguntrader1 sometimes i do both 161651: topguntrader1 u gotta create if scenarios 161755: topguntrader1 if it bounces, and u get confirmation, then there is likelihood it will break to new highs, however, if it doesn't and confirms my TL break and there is a potential for a retest to anchor, then I would just reverse position 161818: topguntrader1 as long as the potential RR is there 161830: topguntrader1 ym, i think u complicate things too much 161831: topguntrader1 lol 161839: topguntrader1 keep it simple 161849: topguntrader1 it really works or not 161856: topguntrader1 my accuracy is lower than 50% 161907: topguntrader1 some days, i may be right 90% of the time 161915: topguntrader1 other days, i am right 20% 161926: topguntrader1 in the long run, it averages up to about 40-50 162008: topguntrader1... there is really no perfect setup 162149: topguntrader1... i wish there was a way..i have really stopped looking for it. The stuff that matters is how you slowly increase size as your account grows
cannot count the overnite session, u can but its often an exaggeration of reality,due to lack of trading houses and funds involvement
The breakout failed last time, if you look at the chart. Would you not draw the line on top of the last breakout?
does anyone know (since anek seems to still be on vacation) if you can apply anek's emini strategies in this thread to regular stock trading (equities)? The higher highs , lower highs etc seem to fit in with trading stocks, the same as e-mini's. Anek said earlier page his friend used the same principles he uses to trade e-mini's with, to trade forex with and was successful. Maybe same works for stock trading.
Bill, The core of this thread is about price action which is made by the buyers and sellers. If the security you are trading has prices created by buyers and sellers, then yes, it applies. e-mini, equities, forex, commodities, etc. The same price patterns are created by charts for all of these, higher highs, double tops, etc. Eminis and futures in general have a few advantages over equities such as built in leverage, less income taxes applied, 24 hour (almost) trading to name a few.
Yup. I'm not sure which line would be 'correct' but I haven't moved the line from last time. Anyone with better knowledge on this care to chime in?
well thank you BBox for the information. I can use this bible then(thanks to Anek so much) to learn how to trade stock equities better. As I was reading thru it, it seemed to fit with trading equities so well I just kept reading. Now I can read all 1000 plus pages whatever. I notice all the emini traders asking Anek questions and posting their charts and all, but I don't see any stock equity traders asking questions etc. That's why I wasn't sure this thread applied to stock traders. Of course it's about emini's so why would stock traders be reading this? Still it would be nice if Anek could just mention "this thread applies for stock trading too"