the dax is a beast, every time it seems to tank u get those insane buying activity going... I usually enter such breakouts with a stop order under the zone. 5-10 points under it... seems to work best for me Dident want to pour salt on you, just was curious what made you short it.
I had a limit order in for ES, but it started to go up 1 point before hitting that limit order. I left it alone and took a look at CL. On CL for a real money long, I had some confirmations for a long trade. I decided to do a scalp since I think I was counter trading against the overall short trend. I did not go long ES since ES seems to like to f with me and fall back a point against me as soon I trade it either long or short. My CL trade worked out, maybe the morning moves are more clean since it did not take too long. At this point I decided to sim trade long ES and Euro. Euro went against right away and stopped me out reminding me why I don't like to trade it. My ES trade is still going fine. I have another order long for ES to average down a point in case it wants to go against me but so far it has not. For Euro, I see I basically got caught in a spike, and it did go back up after stopping me out, so it looks like I should have either had a limit order in for lower or a wider stop. I really feel there is a ton of stop hunting on the Euro maybe by the brokers that see our stops. I wonder if NoDoji would say to go long on the price you would normally have a stop. ES seems to recently go down in the morning and up later as investors buy on the dip. I actually normally get up a little later, but I think this is a better time to get up or I need to sleep for much longer and play the afternoon trading. I am going to probably just sim trade the rest of the day.
Is the "guest" you excused yourself for a few minutes ago your husband returning from "work" with a catered breakfast, 3 dozen roses, and boxes of chocolates? As far as V and the 10 losses in a row and the chocolates goes, I didn't send any chocolates either. But I did send Guido over to wip some sense into him (her?). Did he ever get there? Tough love. In regard to counter-trend trading exit strategies I'm very interested in general and I'll start a thread asking about this. I know a number of traders on ET are counter-trend traders and I really would like to have some share viable exit strategies if they're willing to share. I see a number of people just average into the trade to improve their entry when it goes against them. But we've already discussed several times what can happen if that's the only strategy. Any of my comments or remarks are never "aimed" at anyone in particular. And all of my comments and questions are just to share and learn in a positive light. I just want to contribute towards making us all think more about what we're doing and become better traders. And especially what a lot of my posts are about is pointing out some of the really stupid things I've done myself in the attempt to help other traders avoid the pain I endured as a result. Many of the comments may be useful to people who read this thread, but never or rarely post, and just want to learn how to trade better.
V, is this you? http://www.devangvisaria.com/ or this http://people.bu.edu/svisaria/ Nosy bastard aren't I?