Thanks. Honoring my stops is actually something I`ve done 99% of the time since I went live (and also in SIM). Yeah, poor placement of stop or execution. The thing is that the market could be topping out before reaching 1268, however, if one wants to risk being too early (where I entered), one also need to place the stop outside of an obvious level like 1268. Then it`s a mattert of how much one can risk per trade. What`s an R10 magnet? Thanks, LF
As I talked about earlier, today was one of those days where the market seems to be chopping, but after a while you actually see that it has made higher highs and have gone higher for many points while you`ve been on the sidelines. Of course, these are VERY easy to see after the fact. Entering a directional trade during choppy action and lunch hour is not easy. I`m wrestling between actually dropping lunch hours altogether or if I should keep practicing to discriminate when there is actually a good opportuntiy and when I should stay out. Besides my already bearish range mode bias, I also ignored what the NYSE TICK was telling me. The NYSE TICK was slowly building value higher and the MA was sloping upwards. If not a buy signal, this should at least be a warning to NOT go short. All sector ETFs were still in the red at this point, so that was part of what fooled me. I do believe that some green with the ETFs would have kept me out of that last short trade. -0,5 points for the day.
Would you be kind enough to write in crayon for us mentally challenged folks what "sweeper" and R10 is so we can at least pretend to follow along with the argument? I am assuming R10 is a pivot of some sorts, perhaps S/R 1.0, but wasn't able to locate a definition anywhere. Thanks!
R10 is an intraday 10 pt move. Aka RTH10. You will see vol build at we approach a 10 pt move, often with a climax at its culmination, and often followed by a pullback, or even a reversal and mean reversion.
Your wish is my command. Of course hindsight is much easier, but in real life you only need a piece of it.:eek: