Thanx for that photo! Brought back a lot of nice memories. I doe a 1973 Chrysler Newport in 1990 through that area ( Cancun going south to Belize). I was young and the world was mine. Good times with decent people.
Buy1Sell2, Do I have it correct that you try to remove emotions of the market as well as your own by relying indicators only to define trend and recieve signals? Do you allow any sentiment based analysis to enter into the decision or do you try to stay away from that. Just interested in your psychology. Being around in ET and listening to all of the ravings in the media gets things muddled. Wondering about your state of mind? Any advise welcome. Sincerely, JIM
By the way, if I was long with a 200 point stop and the market rallied eventually 600 points, that would be a 3 to1 reward to risk. ( I am not doing that). Sounds weird, but 401 k'ers are doing that all the time. The difference is that they are not using leverage. On position trades I am also underleveraged.
That is exactly my MO. I have no emotion with the market or more correctly perhaps, I supress it well and I use no sentiment analysis. --Just the charts and indicators on several time frames.
That is my point though, even good traders often get fooled by the chart. One mans noise is another mans goldmine.
I suppose a slippage indicator could be constructed, will give you a intraday indication of market conditions.
Thank you much. I have a feeling based on some recent reading you just deal with your emotions in a constructive manner. Unlike 95% of traders out there. Thanks again. JIM