With all due respect to you B1S2, but I think Spike is simply unbiased and only trades according to his system. You may have the impression that he has more Long trades at the moment but do you agree that Long in the previous days wasn't the worst choice?
On over 1000 trades i go long 50% of my trades and short also 50% of my trades. I follow the market, so if the markets says 250 times in a row short, i go 250 times short. I don't care about long or short, i only care about my signals. When i said that we would go higher for at least 75 minutes i knew that in over 90% of the cases my "prediction" would be correct. That's why i told yesterday that you need reliable stats. I know in advance how big the chances are that i will not lose money.
Bottom line is that everyone has their own strategy. I am a trader of 25 yrs experience and have been tremendously successful with my plan throughout, so I will be keeping it that way. Each trader must be their guide. What I do is bold and I announce it so that people can review it and be crtitical if they wish.
I havent had the patience to go through every page of this thread ,, b1s2 have you explained your methodology. I was just wondering why you added to your short at 1316 and change when the market hit the resistence at 1313.75. This is an interesting thread I like it.
B1S2, what is your price target in your positional trades and how many lots would you compile into your current short position?
My methodology is pretty simple when it comes to ES. I add positional shorts when the market is weakening on weekly charts. I add in increasing numbers.No Martingale. I have just now started the process of adding 2 units each time. We've got a ways to go before I would quit. I also sell naked premium and it generally covers losses on the futures and gives income while I am building the position. I don't risk more than 2% of my entire portfolio on any one idea. That's it in a nutshell. Positional traders reap more benefits than intraday in my view. I am taking some very small short term positions here just to get the feel of intraday trading. So far, I don't like the time intensity of it. I sleep better with positions on and not having to worry about new analysis each day. Spike has been very good so far with calls and mine have been less than 50 percent. They should improve with time.
No target--when the market turns around and declines, I will then look for a reversal to the upside and perhaps begin a long build if it looks strong on weekly charts.
Yes I apologize--I meant right now in this ES market I believe your are trading more from the long side at least that what I inferred from the posts. I don't think there have been many real time posts like yesterday, so you may have made quite a few trades that I don't know about.
b1s2 i think using some different pivot points could help you get the feel of intraday. i t does for me anyway
I have on average 2.5 trades a day. I don't post in realtime and even afterwards i don't post many trades. I've been bashed too many times. So i will surely not give realtime signals to enable bashers to make money on my signals.