FWIW, that set up is almost always worth 10 points from the entry. Almost. So most of the time I'd expect NQ to trade 7714 before it trades 7697.50. Not a sure thing .... this is a probability bidness don't you know. I'd rather be long from 697 than 704, regardless. EDIT: There are Algo's long this trade as well and from prices better than I got (I'm just a human being, after all). If The Money decides to let this play out, my guess is that the target is 7717.75/18
thanks so much! I really appreciate it. I am reading all your thread replies trying to learn more too
I had to settle for 2900.25 ... they just weren't going to let 99.75 show on the bid just yet. Soon enough ... maybe Took some +3's to make sure the trade would be paid for and profitable no matter what happens. EDIT: By +3's I mean points, not ticks lol
The real learning takes place by sitting and watching every tick day after day for a little while. Take notes, watch for patterns (and I do not here mean necessarily chart patterns - though they can be useful as well). I mean patterns such as how many times does the ES try to push lower before a low is in and the market closes off the lows? Same at the high ... and by how many ticks does it probe a prior low or high? Is there a pattern there as well. Watch your halfway backs, and remember that the market does love symmetry. There you go, that's everything I know. Good Luck!
Germany PMI and everything else will bounce slightly end April, and May is the end... Watch US Shale Industry, I have a hunch big big news will come out very soon, followed by lawsuits =)
I just copied the guy who always knows where the hell it's going, lol Bought the SPY but he trades teh ES (I can't afford to trade that at the mo. Taking a kind of 'semi break' from trading (size) after losing for the last decade!! haha) Trade is Working so far, though