http://www.google.com/images?hl=en&q=XiaoLongNu&um=1&ie=UTF-8&source=og&sa=N&tab=wi&biw=1280&bih=614 Wow! She's cute.
Note that these momentum oscillators... there are two groups: bounded and unbounded. The bounded oscillators, such as Stochastics and RSI, go from 0 to 100. No matter how bullish a move is, the value will never go above 100. The unbounded oscillators, such as CCI, Momentum, Squeeze and others, have no upper/lower limits. e.g. Just when you think a price move that produced a CCI of +300 is "over bought", it could go +500 and beyond. The absolute value of unbounded oscillators doesn't mean much. Only the relative pattern and divergence conditions, as well as the wave patterns. Constance Brown's book is interesting. I have a copy. But it's definitely not for beginners. You need to have a good grasp on technical analysis before you can appreciate her ideas. e.g. RSI on a bullish trend will not drop below 50. And devicing a set of multiple indicators with different periodicities and view them together. (I have been doing that. Similar to the thought of Daryl Guppy on multiple moving averages - which I use in all my charts.)
Big gapped open this morning, yesterdayâs bearish closing. Premarket extended move, all that makes me think today I could take fade gap play although price were traded above VWAP. When market formed a DT pattern, I went in short to fade the gap. The bull was too strong; it took my stop right away. Then price reached the R2 level, formed 2 topping tail reversal bars. I took a short again. Stopped out. Bulls are too strong. $TRIN traded around 0.5 at that time. I now gave up on fading the gap. Rest of days, I took some long trades, couldnât get a major run in the mid day mush. Ended the day negative. Was hoping late day reversal, but never happened. Bulls are too strong which is so irrational. Market just continues to climb up⦠Todayâs PnL: -$49, 6 trades, 33% winrate. Weekly result: PnL: -$72.80 Avg trades per day: 4 Winrate: 47% Hopefully we can see some big move next week and I will be on the right side! I will stay in Live next week unless I do something stupid⦠Have a great weekend everyone! I believe most of you are going to watch âWS2â? I will!
Do you know Andy Lau is still my favourite Celeb in HK? Regardless some of his bad press last year, I love the way he looks. He was so handsome when he was young. But he is more charming now!
Matcha, I think you had a respectable week considering live trading always turns out a little differently than sim trading :eek: Although we are day traders using for the most part a 5-min chart or similar, we should reference the bigger picture to place intraday price action in perspective. Yesterday's close was not bearish at all. In fact, it was rather bullish. On the daily chart, the market appeared to be in the process of an orderly pullback in an uptrend off the triple bottom lows from late August. A trend follower would expect price to pull back as far as the 20-day MA without feeling anything was bearish. The fact that price found support on two days in a row at the previous support level of 1117.00 (ES) without pulling back any further was a very bullish signal at yesterday's close. It was a bearish close intraday, but a bullish close in the bigger picture. The gap up open was a continuation of yesterday's bullish close and there were no confirmed short signals at all today. Fundamentally, the market seems irrational, but there's nowhere to put money for a decent ROI except in equities and gold right now, so as long as there's no really bad news, "less bad" will be continue to be a buy signal.
Sweetie ... You're Not ready trading the gap yet! Now you are only learning the very basic foundation kungfu of trading ... be patience , .. like an architect who's building a sky high building ...a good solid foundation is the most important if Not the building can collapse anytime... Fashion Queen Matcha... when you reach the level when your trading skills can "think outside of a box" ... making millions and buying all your branded clothes, shoes and bags til you drop ... You will still have extra $ to donate to the orphans Your dream can comes true but it takes time and ..........
sweetie .. i know Andy Lau and his wife ... maybe oneday i should introduce you to your idol ...Andy! Oh Yes!!! he's indeed a very charming handsome guy! we can ask him out alone only and just forget about his wife!!!! anyway, when he goes out to dinner, party, meeting with friends etc, he doesn't like to bring his wife along... his wife is rarely seen in public and she's a nice lady & super submissive LOL
Hi Matcha, Thanks. I will make sure I have the broker's number taped to my monitor. The online trading radio's regular host took a day off. So there wasn't much real time market analysis, only music and the S&P futures pit audio feed and the ES 1 minute chart. Last few days, I saw him drew some nice trendlines, channels, flags on the chart. Yes, you will be on the right side next week for some big trending moves. Like NoDoji said, you have a respectable week including a very challenging day on the FOMC Tuesday. I notice one thing that you have kept your number of trades to a very nice manageable level. This shows good discipline on your part. Again, I commend you on playing good defense and following your trading plan to limit your loss whether it's per trade or the daily limit. Something I have been working on lately, by not overtrading and also to stop the temptation to "revenge" trade after a loss. My goal is to trade 3~5 times a day and also set a daily loss limit. There are so much I have learned in this thread - how to be disciplined, improve my trading method and most importantly the emotional side of the business! Thank you to you and to everyone for all of your mentoring. Have a great weekend ALL! --po P.S. Let us know your review on WS2!
Very cool! The trilogy must be a very well received classic in Hong Kong and Asia. Thank you Sis ~~~. --po