So are you guys talking about getting in long at 1338.00 and exiting at 1340 or are you long right now? Sorry I'm still new to all this, I have no tools to work with (charts or whatever else) and I'm unsure of what books to buy to learn to study patterns. So i'm just following coatails here trying to learn. Thanks
Don, The breakouts have been tough the last probably 6 weeks. I have still been able to keep the account going up just at a slower pace than earlier. So if you are right and I hope you are the account should be looking very sharp in the near future. Thanks for your data. Gary
Hey Chopper, We are actually talking about entering long at 1337.50 for me and 1338 for Romik. We are currently flat. Gary
Yea, if you're a "break-out" trader it's important to see how your trading is working under conditions of low volatilty and high volatility. What happens to many "break-out" traders, is that they get discouraged during a period of low volatility and they give up. Of course, just when they give up, we get a few weeks of high volatility. A real key to pocketing money for the break-out trader is to be able to recognize the type of market we are in. Taking a few points is great when the ATR is low, but we need to take advantage of markets when the ATR starts to ramp up. Targets on half, trailing stops on the rest, etc can help you to maximize those time periods. BTW, Gary, please, don't answer this if it is too personal, but did you find yourself in more trades and making more money between May30-June 30 ???? That's when we got a ramp up in volatility.
well, guys, i'm dipping my toes in the water this morning. i bought 2 contracts, stopped out of one already, still holding the other.... in at 1334.5...i know hope is a bad word, but i'm hoping for 1337.
I would not hold past 1331.75, it's edgy at the moment looking at a possible double top, let the majors show us what they have in mind