We are faced with the same setup again - if gap not filled by noon ET, the probability to have it filled will drop drastically. Am heading out of my office now. Good trading everyone!
As you know, I don't consider gap analyses to be important in trading. Rather, I think these just add too much info to the mix and create ripe situations for mistakes. Curious though as to what you consider the gap to be today.
Hey, thanks for the compliment! I don't exactly know what you mean by "trade disregarded", but I'll leave that to your own discretion. As to the stop, I believe we've been through this route before. If my memory serves me correctly, I explicitly stated that I decline giving out my stops in order to avoid being gunned down. However, I will tell you where I placed the profit target: 1218.50. Also I trade the 5-minute chart.
I used to think this as I got stopped out a lot. As I got better at stop placement, (outside the noise) this was no longer a problem. I do tend to use larger stops though then most. Good luck I am currently long (see previous post)
All posted trades need to include the exact entry and the exact stop level. Otherwise they are disregarded and considered to be paper trades. The stop level is where the rubber meets the road. This is where the good traders separate themselves from the poor traders. If a person does not wish to post the stop, then please don't post the trade.
Someone on another thread was asking about reversals. Standard response is only fools pick bottoms, blah blah. Here is the spy reversal on a ten minute chart, I usually wait for a wick then enter with a tight stop. This was a good runner and I caught a piece of it. Lawrence sorry for your loss, for all its faults this is still a great country. http://www.youtube.com/watch?v=9Wm2Erqnz9w
i dont use stops often but for b1s2 i stick em in here,he's just trying to keep journal strictly business,which i appreciate
I'm a great believer of market timing, despite what others say, and it's my belief that if you're able to get in at the high or the low, the need for a wide stop is unnecessary. Needless to say, I admit that is easier said than done. Sorry if this sounded too pretentious.