Haven't been to FL and Gary Danko yet. Those are still in my restaurant research list needed to be checked off. French restaurant, I can "eat" the atmosphere and take all the photograghs for my collections. In chinese resraurant, I like to stuff my face and stomach. I love those Abalone,Shark Fin, Giant Clam(xiang ba bang), crab, sashimi tiger shrimp, steam fish, lobster shashimi and soup..etc! And have that bird nest thing for desert... Like Koi Palace. This Sun Tung Lok looks expensive too! Good thing,it's in TST. I hang out there most of time. I like the hotel cross street from it, The MIRA.... Yes, Got to have the CP $500 day to spoil myself in those restaurants now.
This either ride all day long with bullish/bearish bias or scalp back and forth isn't easy for me. Today, I somehow tried to combine them all after a great trade turned to be b/e. I frustrated and I lost my judgement, I went all over the place like an idoit.... Next time it happened, I will choose to only stay in one side... I think patience will finally pay off... Do you hold position during lunch break? set OCO orders? Looks like you are holding position over lunch break. I always don't feel comfortable to hold.
Hi, Boli! Today I watched TRIN and TICK almost 1/3 of the time. (Still getting used to it though. )That's how I decided the trade A is a great entry, I was so excited when I saw it shooting up. Then the tick was still low today below 0.7 and above 0.3 after I entered. So I set the OCO order and left my desk, I figured today could be the very bullish day. I am riding the trend without getting out. I would only do long trades. But after I got back,(after 10:30ish) and saw tick was trading above 0.7, TRIN was coming down below 0, Price is breaking the up trend line and making higher low, Price also formed a double top pattern, Plus I was stopped out, I thought the trend is reversing.... Then I took short trade.... I didn't have that thoughts of buy into the "fluid sell"... so instead I short at the low, and keep shorting... I would say trade A entry is the best entry I have ever had, Everything lined up perfectly with TICK and TRIN's support, it's the exit was screwed up... I have been practicing using multiple time frames, TRIN and Tick Chart, Pivot Point, Wave Counts, Fib retracement-all the great tips from you. And some Al's approach on 5 min chart.... Probably need more time to make them work better on my trades.
Nodoji: I am not sure if it's ok to ask. Just ignore me if it's too private. What's your average win rate? How long does it take you to be CP? What's the ROI you get each month?
Dow did drop 40 points at that time. Was there any reason and logic behind "40pts drop from a second push mostly fail"? get in and long after a fluid sell(40points) in a bullish day?
I trade CL which moves rather quickly from here to there. My trades last anywhere from 20 seconds to an occasional long term investment of 30-40 minutes The stock index futures, however, are slower at getting from here to there and occasionally have trend days that are well worth holding through. I, personally, have no idea how to do that. I will work a trend by playing each leg of the trend rather than holding through deep retracements, only through shallow ones (where price does not break through the previous bar's high or low). From the time I started day trading to becoming consistently profitable was a bit over a year. I've been trying to let winners run for a couple months now and it's been a real struggle to watch so many trades go from $150-$250 profit back to almost nothing. But this is more a result of micromanaging trades and not taking all signals more than anything else. On active trading days I usually have 2-3 winners (that reach my target), 2-3 scratch trades and 1-2 losers. As of 6/30/10, my ROI was just over 100%.