Don't worry about the scalping metality. That crap goes away when you get a few weeks under the belt. The reason it goes away is because sitting on your hands becomes easier and you have accumulated some very nice change in the account while having seen a good portion of the terrain. It is also a point at which you know that winners more than compensate for scratches. Really consider this, how bad can bad get before you have violated a trendline. It is not possible to get caught on the wrong side of the market for more than several handles. Other tools help, but the current set are good enough. As to forex, , yes, it is the next great step. Round the clock, many markets opening up throughout the day, trillions of dollars changing hands... This is probably 2 years out on the syllabus as it would require variants of tools... In any event, keep at it and good trading to you... BTW, I find posting at ET is a great way to spend time holding...
Draw in a Point Three channel with an increased slope and use it as your new, smaller Forest. In this fashion, you can 'bank' the profits and gain confidence. In addition, you'll often find a point three headed in the opposite direction a bit faster - allowing you to remain on the 'Forest' level while insuring you avoid the concern over price 'retracing' such a great distance. - Spydertrader
LOL. I was sitting here looking at my chart and I did notice that the RTL of the traverse channel was a nice exit point. Was going to say something to this effect but you beat me to the punch. Its starting to get easier once you get these little nuances in place.
Now I know how you do it - you've had yourself cloned! Thanks for the response. I suppose I 'knew' that, and it will become a reality with greater confidence, which will become a reality with more practice ...
Hope everyone is not as dumb as me and changed their charts to "ESM7" from "ESH7". I'm annotating and thinking, damn, vol is really light also, YMM7 as well
I knew today was the rollover day but most action will still be in the March this week. I think you will see volume shift more next week (obviously given its expiration) but for this week I am sticking with March...
I thought the same thing except the volume is to light for me... felt like i was drving at night and turned off my headlights... flipped over to June... cj...
The only issue i see with the June contract is that my charts have the wrong prices. I hope spyder will comment on what we should do on this kind of day. edit: i figured it out, all is well