Ever print off the wrong economic calendar?

Discussion in 'Chit Chat' started by RangeTrader, Apr 2, 2012.

  1. A range trader is anyone that trades off support, resistance, and between them IMO. Range traders do not chase or go into established or confirmed trends/directional cycles to try to capture part of them. I'm always trying to trade as close as possible to exact highs and lows and don't go against trends too strong to counter-trend like today... It's hard work. You gotta watch that L2 and the market like a hawk. The opportunities for entry only last around a minute. If you don't get your entry within a couple ticks of the high/low the odds of winning drop rapidly.

    Why did I drop out of what appeared to be great trade entries this morning? My rules... The short term range dropped too low by my rules to hold position so I needed to get out the next short term cycle profit or no profit. I had no idea that there was news and going to be big trending cycles.


    This is more my type of market... (Yesterday late.)
    http://www.elitetrader.com/vb/attachment.php?s=&postid=3490105
    Ignore the fact there is so many short trades on that chart. It means nothing I swear! :D

    And yes, two of those trades were retarded... Got trapped a bit counter trending midday. Seemed like a slow uptrend. :/ It let me out on the next cycle without hitting my stop... Woohooo!!! And, that long that I got scared out of quickly I just wasn't too sure about. Some people say that every winning trade is a good trade. I disagree. I know that some of my winning trades in the past have been retarded and a bit against my rules. Of my good trades there is very few losers.
     
    #11     Apr 2, 2012