Did anybody order a 50% retrace?

Discussion in 'Chit Chat' started by rc5781, Dec 1, 2008.

  1. rc5781


  2. Cheese


    No, its the large ups and downs that make the Dow(YM) so excellent for trading over recent months. My usual reminder: you must deploy a reliable methodology for the days play.

    It was a slower session today but the range (Monday Dec 1 2008) was 496. You just exploit the days gyrations; that is buying the upmoves, selling the downmoves sequentially. It just so happened that there was a good slide to start the session (173 points down) before a reversal and a big slide to finish off the session (316 points down). Nice.

    Overall the sequence in todays gyrations (up/down repeating 9.30 to 16.00 on Dec 1) produced 17 macro 'legs' of minimum 35 points. The mean average of those 17 'legs' was 86 points per 'leg'. Therefore between 9.30am and 16.00pm, thats more than 1450 points which were on offer.

    So capture most, or a large slice, of those points each market day. Build a plan and you can engage the market with the aim of making a big success of your trading.
  3. Well said.