Eusdaiki, I am impressed at your accomplishments for your age. Well done! I do think that you and your office could benefit from having an older been-there-done-that trader come in to mentor. For example, if you don't know classical TA, that is a good place to start. Having someone explain tick by tick the predatory behavior of market makers would be my next choice. A cynical attitude toward the markets is a healthy thing IMO. I am thinking of someone like Alan Farley or Robert Deel or Vadym Graifer, guys whom we know trade but who also teach. But please value my comments for what they cost you. I am a complete market outsider who merely comments on the most likely explanations of what he sees. All the best. Duref.
The downswing on that spike lasted 23 seconds according to T&S. Excuse my fascination with such events. I think that understanding them is important to setting stops for overnight holds.
forget about stops... leave a couple of limit orders pending around $8 away from the market in each direction and wake up very rich {or very broke} the next morning Regarding your reply. When I see the mountain of knowledge that I want to climb I can only think that I´ve acomplished so little. Every time I think I´m going to reach the sumit I am amazed to see a higher peak in front of me. It´s a long road and I intent to walk it slowly. ...ohh yeah, and regarding rule 4. NQ is cool.
I just started Farley's book "The Master Swing Trader" - not very far into it but a couple times I riffled through and the info looks very useful - a great insight into the market/herd psychology and how it affects chart patterns. Need to find the time to re-read TDP by Douglas - been several years.
if i had known frugi was coming, the DOA post would not have been created........if he says there is room for discretion then there is room for discretion......if he says it should all be discretion then it should all be discretion........I have 100% confidence is all he says........you should as well........frugi?
the money tree is elusive.......but does exist.........bar noise does not exist.............the money tree allows one to step in at will and pick the low hanging fruit........
if frugi will continue to post a few u will benefit.......my stuff is very elementary and not for others to follow..........1 min chart gets rough sometimes for slow eyes.......