I have all of his books and have tried to get all of his trading systems. Not that I use systems--they are just sources of ideas. His Dow Jones Guide to Trading Systems is his best work.
Wow, the whole day's work undone in the last 30 minutes. Sure glad I got out of my longs when I did. Sure sad I didn't get short. I guess everyone was waiting for 1480-something or 1490-something with their sell orders, and the market certainly wasn't going to make it that easy. Have a good weekend, everyone!
I wasn't short either. In fact, I didn't trade at all this afternoon. Mental exhaustion leads to sloppy trading, so I sat on the sidelines. So, yes, I missed the failed breakout and the collapse. And I don't mind, either. The way I see it, I cannot catch them all. Besides, there will always be another opportunity right around the corner. There always is.
guess i was`nt the only one that missed that sell off.....they created a great illusion of strength before they pulled the rug out. just missed my scale starting @78.75 up to 84.75.....as it appeared PA would ride into the lo 80`s at least as i was prepared for a carry over into the weekend. this PA tells me that every lift is a gift & the 32 target is a matter of time & most likely much lower. good weekend all.
I really have no choice here but to stay short based upon the weekly and daily charts. I will need to weather bounces, but that is a necessary part of my plan. Still short full position from 1511.00.
I missed the last half hour sell off as well due to trading exhaustion. At least on the NQ it was a beautiful setup, double top, trendline broke then it fell off the sky. You could see it on the tape, the big money was dumping it hard at the resistant points. I know sometimes it's hard to accept it but the goal is not to catch every decent trade out there, so some us missed it, there are more just around the corner. IMHO, that's the spirit to keep. Anek