Basically I'm quoting deviations from a moving average measured in average true ranges based on each bar of a particular period. Keltner Channels are useful to visualize this, although a connected spreadsheet with the appropriate formula works as well.
not great so far! got a very good buffer on the day from the YM which helps. Still expecting the BTFD crowd to help me out here lol
Proper correction has started, I suspect. I have a sell order in at 6113 (three micros-- will add on bounces if I'm right), stop will be at 6176. Open target.
Next week FOMC (likely pause) and ECB (likely euro interest rate cut). Plus more guidance on tariffs. It should be interesting. I don't think we're done with the bull market, imho.
Last night I pulled out a couple of books. Yesterday after making a some stupid errors, my chimp brain needs help. One thing I noticed is after a good day the next has some weird unforced blunders. Assignment for the weekend “Chimp Paradox”, “The Best Loser Wins” and Mike Douglas books are my homework.
Happens to all of us. At least those of us not afraid to admit it. I had an error recently where I was adding to a winner. The problem was I was adding too much for the available capital. Took a big hit on sharp move against the position. Had I sized it properly, it would not have been a memorable event. As I was too large at the time, I'll never forget it.