How much money has it printed for you? The trouble with the HWB concept is that you're in essence looking to see where it worked, after the fact. Will you be a buyer or seller each time it goes back 50%? What time frame are you using? Are you doing it on the 5 min, the hourly chart, the 1 minute chart? For every one that works, I will find you 3 on the same chart that didn't. But if you're like to show me your half way back trades on a chart, I would happily look at it. On Friday, ES had a high of 2867 from the open to a low of 2826 for the morning drop. Did it stop half up on the way up which would be about 2846? Nope. Maybe we should use the overnight session. High of 2889 to a low of 2826. Maybe it paused at the halfway of around 2858, but that was at most good for 6 points, and only if you caught the exact top and bottom. Tell me in advance what half way backs you will use and it will be pretty obvious that they don't work nearly as well as when you see it magically after the fact.
The only person who has posted more real time trades in this journal since February than me is @glazier. I have also posted charts of my platform in real time showing open positions ... I can’t help that you weren’t watching at the time. There were certainly losses. The post you are infatuated with was referencing a swing entry, not a day trade. I posted a similar entry a few months ago at 2756.25 basis ESH that you can find, with stop and targets than ran all the way to 2961.25 ... though I did not hold it all the way there but I did post my scale outs and final exit. DWIW, I am never wrong lol ... I take my set ups and some end in a loss and most with a profit. So long as I take set ups, I am never wrong because right & wrong is truly the loser’s mindset. I’m not here to feed you trades. If my posts are of so little value to you and so clearly annoying to you why the fvck don’t you just block me ... then I disappear from ET for you for good so long as you are logged in.
Poor seaweed ... he just a lost soul. HWB’s don’t work, price action does. HWB’s are just one of many levels at which price action deserves one’s increased attention. “Works” and “doesn’t work” are just a variation of the right/wrong mindset ... neither applies to trading in the manner in which you apply them.
It's interesting how some people in this thread gladly point out flaws with others (and often not in a respectful manner) and criticize B1S2 on a daily basis for months, but simply can't handle any criticism coming their way. When that happens, we're trolls and disfunctional. I never heard the term HWB until recently. To me, they're always been called 50% retracements and I have no problems admitting it's a useful level to be aware of. Just as the OHLC of prior days are useful.
Try it on RTH charts (09:30-16:00). Shouldn't matter if it's a 5 minute or 1-minute chart as you should be plotting the 50% retracement of the current high/low range. Nothing works all the time, so of course you'll find days it don't work. FWIW, I never used ETH.
When you post a trade with a 1 point stop, its fairly easy to say that it either works or doesn't work. And this once again is even more reason why a trade needs to be called. You can say it deserves increased attention, but it all boils down to taking a trade, or not. And when you do, the trade either works, or it doesn't.
That’s exactly right ... you are making progress. I know I posted a trade early this week a buy limit at 2917 posted in advance with a 4 tick stop posted in advance called ... why you not focus on that one? Because it was profitable, as are most of the trades I have posted. And if I post a stop, which I always do when posting a trade, why must I then post that it was stopped if the stop trades? I assume most of you are smart enough to figure out how this works. And why is it always guys like you who never muster the pearls to post a real time trade that seem to come after those who do. Put the fvck up or STFU why don’t you? If you don’t want to post a trade that’s fine ... no one owes anyone here any calls. But if you’re going to criticize me, then you do owe me. Or are you a pussyfoot poster like your buddies?
Hwbs and price action is a gamblers fallacy. That one starement alone is all i need to know youre not making any money, nqueef. Nqueerious, in addition to being an uninformed trader (and light on his feet ), is a fake. If youre such hot stuff, post some broker statements pal! So many eyes watching and all you got is some charts w an open sim position? The fook?
A benefit to posting real time trades with stops is the potential feedback from other members such as “I went the other way because this was a setup that has produced 80% winners over the last five years for me” or “You are trend fighting here, what are you seeing”? For those who are interested in improving their trading, identifying and plugging leaks is important, right? It is not usually easy to see our own mistakes because if we knew what they were, we would not be doing them, hopefully. It may be a lack of discipline, lack of knowledge, lack of a trading plan with an edge, or other issue that is holding back our trading results. Having the benefit of community feedback, especially from this group, seems under-appreciated by many here, yet can be a powerful tool, especially when specific information is recieved. It helps to ask questions if there is something not understood, rather than fearing being seen by others as a newbie. The best attitude to take may be that we are all lifelong “Students of the markets”. The following is a hypothetical conversation that covers last Friday’s price action and may help to illustrate my point: Trader A: “Looks like money flows in correlated assets indicates interest in risk taking, but US equities are not leading”. Trader B: “I have found the market tends not keep obvious trading opportunities open for long”. because of this, I’m actually going to short this thing with a tight stop and am targeting a test of yesterday’s low”. Trader C: “As a former trader on an institutional desk, I have a sense there is a big order being worked and those who are looking to get long will likely receive better prices if they wait until later today”. I will use a counter trend 30 minute wide range bar as a signal to go long”. “Obviously, my stop will be placed just beyond the wide range bar at new lows of the day”. “We may end up going back to unchanged or even a new high of day”. Trader D: “Damn, I went long just before the drop with a tight, vertical option spread that expires today”. “I took a 1 point loss when ES was down 10 points, but stood to gain 4 points if I held my position to the close”. “I only needed ES to close unchanged or higher”. Trader E: I took a similar position as Trader D, except I went quite a bit wider as I wanted to hedge a few deltas going into the close”. “I held the position through the downturn and managed to net 15 points on the trade”. As shown by the example above, several traders were aware of parts of the puzzle, but would benefit from understanding the other parts as well. Keeping this journal friendly and honest may encourage those with broad experience and impressive skillsets to post here, benefitting all of the readers of this journal.