Discussion in 'Stocks' started by miguel007, Jan 7, 2012.
Notes in the chart
a little overkill with the indicators.
However, the more important question, is where do you exit if you're wrong?
How will you manage the position (assuming spy or ES is your instrument) when the trade moves in your favor or doesn't move as expected?
Stop loss at 1240
worthwhile strategy and target if you're trading your 401k and don't have many investment opportunities other than indexes. To make this trade for any other reason than that seems a little sloppy to me.
Trading solely on a longer term chart pattern on an index in a brokerage or futures account seems a little careless to me. There's too many variables that can affect the movement of the indexes.
personally, I would take half off the table when price reaches 1:1 risk:reward and let the balance ride.
oh noooos here comes the "all-in all-out" crowd
Why do you think the inverted H&S is more important than the potential double top?
If you trade like this you will soon be out of the game IMO.
Europe will definitely ruin your game plan next week
there's never any definites in the stock market.
You blinded me with the indicators.
In fact, when I see a chart with so much useless stuff on it, it basically tells me whoever did this has absolutely no clue as to what to look for in charts, so in the regard, thanks for the saving me some time as I quickly passed after that
....but that's just pumping chest ET talk, every seasoned trader has most SP500 timeframes memorized by now.
I think it is hilarious how people think they can "predict" the future with a chart. The unknown is that you have absolutely no idea where the chart/index is headed. The known is that Europe is in a recession and will be downgraded soon and the market will tank.
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