Discussion in 'Journals' started by Buy1Sell2, Dec 23, 2016.
filled since my prior post
I look at highs and lows for gaps, not the closing price. --I look at cash. The gap that I now see unfilled on the chart is to the downside between last Fri and this Tues
4 Hour negative tone negated for now.
This is why if trading, you need to trade the whole day if possible. Nice close!!!
LOL..much more money can be made trading the ups and downs of any move vs buying in and holding for the big move. That is, if you know "how" to trade the ups and downs WHICH can be a conglomeration of ranges..PB..rallies...flags..wedges...triangles, channels..ad nauseum. Hurst discusses the matter in his book. I don't like riding the roller coaster up to a profit..down to a paper loss..up to a profit...back down again..over and over until i finally decide to exit. If B1sell2 wants to trade that way that is ok. It is his money...his time...fits his personality..etc. I don't like wasting my time waiting around to capture the entire larger move. Think of it this way. ALL big moves are made up of many rallies and declines. Each can be traded all the way up and all the down. Look at any chart. Do the calculations. Much more money can be made entering and exiting many times in a big move. Much more than hold and wait. I suppose it is a preference of the trader as to what they prefer. Not one way is right or wrong. Except, if one is inclined to watch the screen with an eagle eye then the profits can be much greater trading the ups and downs. Think about the HFT's. They don't waste time trying to figure out and capture the big moves. They go for little tiny tiny micro profits over and over thousand of time per day.
Trouble with Scalping for me and why I don't post many trades, I often do reversals and in seven minutes will do three trades, I can't be posting and watching chart as well, so I often post dicey trades as they entry too low for sells or too high for buys, but taking on more as price goes against position, whole purpose of how I trade is to average down, but on original trades I am risking 3.25 points to make a buck and always have runner, and averaging down the risk gets lower and possible profit gets longer. Usually I don't trade quarter to, but market kept rising and showed strength, so stayed in runners till NYSE closed.
Good weekend all.
I've read Hurst's original 1970 book. I didn't see much about trading the micro time frame's, I saw a larger discussion about cycle analysis and matching the various cycle length's to determine the likely trend direction.
i will have to look it up but things are in a ruckus. Books in boxes...etc remodeling house. Not sure which box..have many many books. May take a few months but if i recall correctly the info is near the begining of the book. Just a page or two on the concept of trading ups and downs i.e. Pb's etc as opposed to buy and hold. He details how much more could be made. The concept got cemented in my brain years ago and i have not chipped it out. Is the book you got called the magic of stock market transaction timing by j.m. Hurst? Look in the intro area or first chapter. It is in there. It is true.
I prefer 2315.
2315 works. For the long term position players, 1835 is your first destination.
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