I went short at 1007.25 with initial stop at 1009.25 (yesterdays close) and moved stop to 1008.25 when YM and DAC started to turn up, was stopped out at 8.25. I don't mind losing 1 pt. for a possible 4. Somedays your the Windshield, other days your the bug.
It is hard to get a lot of downside action when the NYSE trin is at .60 I wouldn't actually put on shorts with this reading.
You have it reversed. The lack of downside action is not due to the TRIN being at .60. The TRIN is at .60 due to the lack of downside action.
no sh*t. my comment was meant that by looking at the trin you can quickly observe the market internals. I didn't mean the trin was the cause but rather its hard to make money on shorts with this reading. Thanks.
When there's a losing trade it is very easy to come in, in retrospect, and say that "if you had done this, or used this indicator, or waited 5 more minutes, or waited until there is a blue moon" then you could have got a better entry or stayed out of the trade altogether. Sometimes however, a losing trade is a losing trade and nothing more. There is nothing wrong with trying to tweak a system for better results but lets wait until everyone understands the basics of that system first. This is a good thread, I'd hate to see it become a mess as everyone posts an alternative every time there is a loss.
Well did anyone buy the ES at 1014.50 on the 3:35 bar? and get stopped out, what was your stop price?
I'm not really sure why I passed on it. I didn't like the price pattern. Just didn't feel right, I guess. Cowardice?