Volume is always the boy chasing the gal. The gal has what the boy wants. I think the gals name is PRICEcilla.
Interesting, I can understand opening the target when the action dictates, but never, ever the stop. Guess I'll have to stick to realtime trading cuz this ET trading of which you speak just doesn't seem like it would fit with my thinking...oh well
I make the distinction between real time trading and ET trading because it is evident from postings here and the wording of the postings, that many people who post their trades, or at least their entries and opinions, cannot discern between the two worlds. Therefore the beliefs that they hold as an ET trader will destroy them as a real time trader, but they do not know this. In fact they do not know themselves. Hence the outrageous success of this site and it's attendant frustrations because nobody needs to live with the outcome of their posted trades. In fact they need not even post an exit trade and most don't, unless of course with the grace of god they actually had a positive outcome. This is a site where the indefensible and the unbelievable are defended to the bitter end. And I do mean "bitter" sosueme
Wow. Your post is almost as brutal as real trading is (in my experience). I must warn you that telling the truth, as you see it, is not very popular these days, and you are running the risk of becoming an outcast almost inmediately (in the disjointed 5% minority). Or maybe you like being an outcast?. JW
I am certain that you are correct, but either people have an overwhelming desire to trade the real markets consistently and profitably or they do not. If they do, they will succeed. But if they are not prepared to change and adapt, I really have no idea how they will achieve this new and different outcome. Either way, it is not my concern. sosueme
What does the 'change and adapt' bit mean out of interest? You mean the market is always changing and so one has to change their trading methods every few months or something? This is something that always conern a newbie like me. When people talk about adapting and how the markets are always changing and so making your way of trading useless. Are they actualy just saying you may need to make tiny 'tweaks' to your method from time to time, ot change it completely? There can only be so many methods one can think of! It always frustrates me and makes it seem possibly 'hopeless' in my mind. Will people spend 2 years learning how to trade, and then within 3 months of live trading the market changes and that method is now completely useless?? Do you then have to spend another 2 years demo trading in the hope that you might get a few months of live trading out of it before it suddenly stops working? I just dont get it. The concept frustrates me so much, especially as after a few years of demo trading i am now becoming fairly consistent! Put my mind at rest someone.
At the risk of being ridiculed by all the losers, I will tell you honestly I haven't tweaked my trading system for ES for over 7 years and have consistantly made an average of 10 pts daily. So now you know... There have to be thousands of others doing the same but not here on ET. What does demo trading do for you? Without the FEAR of losing REAL money or watching a profit turn into a loss you don't know how you will really perform. Finally, like Buy1Sell2, I too think volume is irrelevant and dismiss "divergence" as a false premise like Bill Eckhardt (Richard dennis protege/partner).