Normally, I would say you are right about this now being a trending day. The opening 10 min range has been breached by 2 pts and stayed below it for 5 minutes. Unfortunately, we are up against HUGE breached resistance that is now HUGE support AND its a FED speach day. Normal rules go out the window on CPI news release and FED days. Lets just wait and see. Stopped out and -3pts on day
yeah, i'm seeing the drop, the internals are screaming, and I'm holding short as well ... I guess inves200 defines a "trend day" as a straight 10 point drop ... we know how often we get those:eek:, oh wait, I think I'll run over to collective2 and buy the system! Later, Jimmy
Franz is a trader for Traders International. His method involves various paint balls and doing better in braket than trending days.
I believe Inves is trading based on AMT. According to market profile a trend day not only "looks like" a trend, but also the price has to be above or below the opening range.
For all who may browse this trade journal in the future. There are two types of people in the world. Those that build and those that try to tare down. Anyone who judges a system, for good or for bad, a system after after two days is missing the point. Not doing a trend following system before a major US ... AND EU COMBINED speach maybe thopught of as timid or as prudent. So I scalped and did it poorly. It my journal, I admit it. What is clear here is that some people want to post chat about thier trades in the middle of someone else's trade journal. It's tacky, unprofessional, and the work of someone who is obviously bored or jealous. A professional trader would not crash someone esle party. Greeks was kind enough to ask certain questions, I answered his questions. As this appears to attrract the type of people that have nothing better to do, perhaps this thread is not worth continuing here and I should start a Yahoo group where I can edit who are and are not members LT
Auction market theory is more about where bounces are likely to occur, to be used as confirmations of a trend and where to enter... on days that are normal trading days. I may have been wrong on the 78-80 resistance area. As long as the account is possitive and the draw downs are minor, I can wait for a double bottom here and go long again.
AMT says to look for support at 74-75 next. I may try going long there back to the 82 range. we'll all see if this comes true today.
OK, we fulfilled both criteria at about 11:40am or so this morning You invited this response when you posted that you were trolling for newbies AND THEN told dan05 to go post his performance someplace else, especially when his trades totally outdid yours! As far as being bored is concerned, yeah, I'm bored as hell watching my shorts come in, with positions generated by a trading system based on logic with a sound methodology behind it, not [Not doing a trend following system before a major US ... AND EU COMBINED speach maybe thopught of as timid or as prudent. So I scalped and did it poorly.] sic, discretionary clap trap ... sounds good though A professional trader doesn't troll for newbies and noobs (because he/she doesn't HAVE TO) who don't have a clue of what's right and wrong in trading, and are easily conned with a song and a dance (to bad you can giv'em drinks over the internet). A shill meister trolls, because he knows his trading is 50/50 at best, but the income generated from his "students" is 100%! Guaranteed newbies, where there is no one to critic your performance and the cash resgister can RING, go for it! Later, Jimmy