Thanks NoD. I'm reading the book and the thread. Unlike the pig, I suspect you are for real. Maybe the pig is for real too. Who knows really or who cares. Have a nice weekend.
Hog is for real and has opened my eyes to many nuances of trading since I started day trading in summer 2008. He also told me about the Al Brooks book a few months ago and for that I'm forever thankful!
The Big Hog in action: For the new person that seems to have a problem with my "handle" let it be known that the name comes from the F4U Corsair fighter. The Corsair kicked butt in the Pacific and was a major factor in winning the war. Tom Blackburn first saw the brand new warbird with its huge high performance radial engine that reguired a long "SNOUT" to house the engine. Tom was a farm boy and the plane reminded him of a hog snout. The rest is history: http://www.eagle-editions.com/f4u.htm Notice the name on the tail of that super duper fighter plane ..... http://www.acepilots.com/usn_blackburn.html The whole story of the "Jolly Rogers" and also about Greg Boyington, super duper fighter "ACES" is excellent reading for traders as both require guts and intuitive skillsets. In a dogfight you have no time to think, you just shoot the bad guy out of the air. To the person that has a feather up his ass that likes to call me a pig, i hope this enlightens him and he starts to be nice in Nods journal. I know what is bugging him...........but indeed thats his problem and not needed in a trading journal. PS: http://www.facebook.com/video/video.php?v=16293392865
Definitely a lot of potential. Friday's action displayed no conviction. The trend is still the trend followers' friend and some of the big players have stated they will continue to buy every dip, but bull markets don't pull much farther from the 200-day MA than this last run to October highs has. The pressure after a run like this one is to retest the 200 (which brings us back to the 990 zone) and IMHO the smart money will be selling into any strong retest of highs and this is why I think so: (keep in mind that I'm very NEW to the market, but a study of trends and human psychology is something even a noob can do). Earnings season is drawing to a close now, and the market is forward looking. We had some good news on the retail front, but this is retail's big season with back-to-school and major shopping holidays, so a bull market expects good or better and expectations were met. Once the holiday season passes, what's to look forward to? What will drive growth? Remember, the last bull market that topped out in October 2007 was a credit and real estate fueled BUBBLE. I'm looking toward swing trades to the short side to take advantage of what I believe will be a retest of that 990 zone over the next 2-3 months. I'm still weighing the advantages of ES vs. SPY options to carry this out. I invite additional input from the seasoned players who've traded and invested through similar market environments in the past. Day trading, we can trade anything that moves, but for a change I would like to take advantage of larger moves over time via some swing trades. I always talk about it then fail to go for it. AMT started a thread on 10/12 (which was hugely ridiculed) stating that the market was offering a longer term play gift. With the ES approaching 1080, he was suggesting scaling into a longer term short position to retest the trend line. It was a very high probability play that, for the sake of example assuming you scaled in with 3 legs (around the 1080, 1090, and 1100 zones), provided a 50-60 pt return on that pullback. I'm very interested in taking advantage of swing trades like this, and I believe the market is setting up nicely once again and this time for a potentially greater move to the downside.
"keep in mind that I'm very NEW to the market, but a study of trends and human psychology is something even a noob can do." But also keep in mind that you are much smarter, and a far better, student of the markets then the average neophyte, who I will leave unnamed out of compassion.
Thank you for your encouraging words. I've had a tendency all my life to throw myself into anything that needs to be done, and when a passion grabs me, then I'm all in. Trading is now a passion for me because it appears to be Opportunity knocking very loudly. I sincerely hope Opportunity doesn't give up on me as a result of its knocking loudly day after day only to have me question again and again whether that's really a knock-knock-knock and fail to open the door!
hey thanks for the replies regarding my revenge trading problem, my stop loss erratic issues and my confusion over support versus resisatance. after many hours examing what i did this past week i think im just a nervous bone head! i was successful doing my thing making collecting ticks and making some dollars. On 3 different days, I let go of a stop because I did not want to get stopped out. Not only did I get stopped out i covered for a few points to 6 points loss on each one. I also shorted after the market tumbled about 10 points on the nq, it touched a support and immediatly reversed and "bounced" up many points. I got nervous I was missing out on collecting more downside points. all I needed to do was wait less than 1 minute and I would have known what was happening but not only that i did not want to put the auto stop on. i was doing well up to that point and gave it all back just like that! maybe this week will be different it has to be . stops are in on!
Stayed up half the night, slept through most of the first half the day, and the action after that was not to my liking, so all I did was sim trade CL short off the lower high.
so I would imagine if you "stayed up half the night" you were trading for real...correct?...if you were "staying up half the night" to SIM trade...wow!!!!...that demo trading company would need you to write a testimonial of glee for their platform...