Of course you are right. Never move one's Stop is violated in my case. Sound advice to close the trade. Thanks. I am going to risk a bit more money and do this .......... see the last upwave on 5-min? Thats 3 waves up. One more subwwave up will make it a 5-wve move. If I get no joy after 5 waves are completed, I will close the trade. The risk is worth the loss. Wait and see Thanks again for the great input
My macro call on post#1 as you mentioned .............. made a sh*tload of dough but its not worth mentioning if you did not bring it up because I was not here at ET to show the entry and the trade management so it is worthless just like all your armchair trading. The TP is shown in this thread itself but again is worthless due to the not mention of the entry since I was not here. If it ain't written it ain't true!!! If it ain't posted it ain't true. end of story! Kapiche? Opportunity cost? Yes, Niney, I am most aware of this concept. That is the sole reason for the CORE sell and hold in a bear market. The rest is trading short-term for high risk profit or loss. Keep it coming, Chief.
The only friend I have? Vix 5-min. (just an indicator) New York Stock Exchange composite NYA 5-min ( just an indicator, I don't trade this)
QQQ daily ........... right above the red dsashed line 23.6% monthly resistance is another heavy resistance at 50% retracement of the current wave on daily in grey Both these resitances are the reason for my taking the worthwhile RISK - I am a risk taker by nature. I pay for mistakes dearly. But that is just the way it is. My Soul demands it. QQQ daily showing the 23.6% red dsashed line resitance and the 50% grey dashed line resistance
SunTrader calls them squigglies, deaddog questioned about moving averages ............... here is the system I am evaluating ............ 8 x 21 ema cross on any timeframe at first I required 3 candles with no contact to the "8" to be the signal to enter the trade. The "8" is known lovingly by me as the T-Line. The original user of the T-Line might be long dead and gone but I see the value as "8" is a fibonacci number and is prominent in the partial differential equations in the pyramid design. ditto for the "21" Problem with the requirement of the 3 candles no contact with the ema is that in a fast moving short the candles can be huge and so the entry is very bad. So I tried different thought-ing ...... 8 x 21 Pretty good but can sometimes get you out of the trade and then the trade keeps going. So I added the requirement that the 0-line Macd must also be hit or crossed. Not the signal line, we are talking only the 0-line. This is where I am at withthis system. It needs work, more work.
Another point of view, Niney ................... all this talk about opportunity cost bla bla bla, although correct pales in comparison to my style which is the Warren buffet style known as the BIG SWING. This called for BEAR is the big swing. If I am wrong I'll still make decent money but nowhere near great, nowher near top-notch. But if the Call is correct, what I make by the end of the BEAR will exceed all the earning of your entire family and generation for 10,000 years. That is my style When the BEAR validates me if ever, my entire real estate holdings now in cash will be thrown at it as I already mentioned with only $%$#-you money left over to start over a deadbeat reprobate Your style, my dear Nine_Ender is that of a Beta Male. Still good, but nowhere near wher an alpha Male resides - the land of risk and milk and honey and death if wrong. That's just the way it is.
Dear Nine_Ender ................ thenative difference between me and thee explained in a much easier way taking into consideration not just Trading but ALL OF LIFE's aspects - the whole picture, all spheres of Life but demonstrated in the arena of the dual terminal universe we live in namely MAN & WOMAN interaction and play
The only remaining Alpha Male in America is Donald J Trump ............. and look and study how he got crucified beyond belief in the ERA of political correctness and Man-bashing ongoing bull market ........... Donald handled himself well, never gave in, you hit him he hits back harder. Every mother's son wanted to take this alpha down. They lost.