Signal versus Entry-Exit

Discussion in 'Journals' started by Luto, May 27, 2004.

  1. Luto

    Luto

    At the close a Long was generated.

    However I was gone preparing for tomorrow and I will be gone after 8:00 so no trades.

    If I were to be here, 35.90 would have been a fine entry as an overshoot of the 36 .00 area. However given the general direction, the jobs report before the open, a "pass" is just fine.
     
    #11     Jun 4, 2004
  2. Luto

    Luto

    At 7:30. I would exit right here as and if it want to go more wait until it breaks the 36.5 area. i.e. another signal occurs.
     
    #12     Jun 4, 2004
  3. Luto

    Luto

    At 12:30 a long signal occured.

    Since I was gone obviously did not enter.

    Furthermore the signal is still long into the close.


    I will consider an entry on Monday.
     
    #13     Jun 5, 2004
  4. Luto

    Luto

    Since the futures are up overnight I will not attempt an entry in QQQ on the open. Instead I will wait for the next signal.

    However if you were long at the close of the original signal at 12:30, that would be about the 1463 area and the futures are back up to 1461... Or in terms of the QQQ 36.40 entry area

    Being down .20 overnight would be tough, but the last hour confirmed the Long signal again. So that might have helped.

    Who knows, except that it would test ones conviction to the system




    :p
     
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    #14     Jun 6, 2004
  5. Luto

    Luto

    although there is not an end signal to this long, I would be inclined to put a stop loss in.

    Reasoning is that it is the 3rd Buy long signal in a row. Although we made a new high, the signal is getting old, as measured by the continuing BUY signals without an exit signal first.

    Better to be cautious with downside and to leave the upside open...
     
    #15     Jun 7, 2004
  6. Luto

    Luto

    Man I really got to start showing up for work. lol

    Trade 12 began at 8:30 and ended at the close. There was plenty of time to buy in during consolidation.

    Maybe time next trade I will be able to be present and enter.

    (notice I did not say trade XIII).

    --Cheers
     
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    #16     Jun 7, 2004
  7. Luto

    Luto

    This thread is a monolog and is also redundant with another one I have started in Tech analysis called "break this system".

    --Cheers
     
    #17     Jun 8, 2004