Thanks princessa. It looks like we are among the few people that started with options first and decide to move to stocks or do more stocks. I have to say I feel uncomfortable shorting stocks or holding stocks overnight though as compared to options due to 'much higher potential risk $'.
Since I have a trade going on with the Q's right now it only makes sense that I watch it also. Sometimes you just notice patterns that both are forming. Don't think it is decretionary but yes, experience is key. Also why every trader has to manage their own trade.
After thinking about this a little bit you can call this decretionary. Anybody who thinks that they can just use one technique to enter and exit their trades are going to lose this game. A trader is going to have to learn and use many tools in order to win at trading. Tools that I have and use at my descretion: S/R Bollinger Bands Other Markets Chart patterns Trendlines Volume News Just to name a few but these are my most common tools Every once in a while I'll use use EMA or even a linear regression line. You would probably have to go through all 990? pages of this journal to find where I have mentioned each and every one of these and I doubt if anybody is going to do that. Hope this helps, Gary
Call me crazy, but I did. Real fast, so I probably missed most valuable info. But the first 600 pages where more easy to read as they stayed on topic more. The last week more chitchat and name calling, but that had to be expected with a successfull thread like this. Looking forward to another live demo session with other setups! Maybe an other trader is willing to share his method? You are an example for all of us Gary! For now I'm only playing the breakout strategies with the ES. I'm going to try it at the DAX also. The other "big" futures are much alike so I'm not going to trade and ES and YM, NQ, ER2.
Thank you, Now all those tools that I mentioned are just that. Tools to help me decide while in a trade or right before whether I am going to get my 2 points or whether I settle for less. My typical trade probably 90% I just sit and wait for my S/R numbers to hit take it and either win or lose.
For the S/R weekend crew (darn hard core bunch here)....one other market profile method that I have never talked about here is to draw "horizontal" lines at the high tick and low tick of the first hour of trading (08:30 to 09:30 "initial balance"). I know a successful trader that takes trade signals as price trades at these drawn horizontal lines...........he looks for LONG trades with volume increasing above the upper "initial balance" tick, and SHORT trades below the lowest "initial balance" tick level. Price has a tendency to leave the "initial balance" area with some momentum......watch for it and you can catch some good moves.