Depends in part on what they're "sitting out". Quite a few don't make the connection between index futures and the underlying. Well, since stocks don't trade 24/7, at least a few are going to gap at the open; therefore, so will the index and the index future (though it's not really a gap since the futures trade 24/5; a surprising number of traders, though, won't even consider trading before the open). Those who've traded stocks ought to know the opportunities represented by those gaps and not be afraid of the opening volatility in futures. There is also the likelihood that these traders have not created a structure for themselves. They snigger at the ranges, but we've had the same "setup" two days' running, and while those who don't understand why price is doing what it's doing where it's doing it, the Scribblers are trading. If they're going to sit and watch, though, they could put their time to good use to observing price with an objective of some sort, such as trying to understand what traders are doing and why. Of course. I'm thinking of having T-shirts made.
Wonderful work Lajax. Your focus and determination is something to look up to. Yes, I had been using my new Scribbles avatar since the morning as well. The ranging is over for us and the trend is at hand! Hinge alert! Gringo
I am curious as to why the stop here was placed at a spot where trading had very recently taken place. Would you have been better off placing them a bit further away ?
Lajax seems to have achieved a Zen state in which the flies do not bother him or drive him off-task. If he notices them at all, he most likely sees them for what they are. One hopes that he will be able to maintain this state.
First thank to all of you for your feedback and support, really appreciate it and motivates me to move forward In the point #4 of the first part, what I wanted to indicate is that from the group of Losers and Winners (with a small profit such as 1 or 2 ticks); the 92% of them were closed during the first 6m after the trade is open. Here is important to mention that the exits of the trades were caused by a discard or the Stop loss. Hence, I consider this a relevant point, because it tells me that during the first six minutes, is the “danger time”, therefore if the trade is still open after this time, then is most likely that the trade lift off I understood the main idea but I really dont capture the all mesage ops:. Maybe if is not problem could you make a further explanation on this?ops:. I'll appreciate it BTW: These days I´ve been a little busy with some work, Anyway I´ll try to maintain my work updated
I've found this to be true as well, and it's consistent with what Teresa Lo once said, that "if it doesn't go, you don't want to be there." In other words, traders are often reluctant to exit a trade because their egos are on the line and to exit is to admit that they are wrong. And they don't want to admit that. So they'll hang on to the trade even though it's going against them and hope that everything works out. It never occurs to them that they can exit and re-enter. Instead, if they do exit, the trade to them is over, and they don't even look at it again. And quite often the "real" trade will present itself only a few minutes later. The problem is not that the initial trade wasn't working; it was that it wasn't working yet. What it needed was a little more incubation time.
Something else about the above post with regard to the number of "bars" in a RET and the amount of time it takes to resume its stride. Some gurus say that the RET shouldn't be more than three bars, but of course this depends entirely on the bar interval: three minutes? three hours? The message to be taken away, tho, is that the RET shouldn't be too deep and it shouldn't take too long. Why? Because of what a RET represents. And if it's too deep and/or it takes too long, perhaps buyers are thinking that perhaps this wasn't such a good idea after all and they really don't want anything to do with it. And if they don't, why should you? BTW, in what country do you reside? Or do I already know that?