Some clarifications - 1015 BO was crystal clear. It was the pennant area that I highlighted on the chart that had me thinking of how I have a bad tendency to predict in this situation as opposed to having the volume/market dictate direction to me when it is ready to move. As far as moving averages are concerned IMO any moving average would work here ( try 10 EMA ) due to how a moving average is calculated. Price will always have a directional movement and stall and so will the lagging MA
From day to day I start to notice more and more stuff...this is one sequence that start to repeat ... enjoy
From day to day I start to notice more and more stuff...this is one sequence that start to repeat ... enjoy -------------------------------------------------------------------------------- Thank you Mr Black, very informative.
Apologies for the retrogression to an earlier time but I have a question (see attachment) for anyone who might wish to respond. It may well be that Jack, wiley devil that he is, did this intentionally. TIA lj
Well, Yesterday I netted 10 points, and today 18. But I'm both happy and really angry (in a wry way) at myself. I think my entrances are generally very good, but I consistently do two things that cost me dearly: 1) try to trade through periods where I'm really guessing which channel is dominant, and therefore what's really going on. (i.e., late morning today, when I blew the 7 points I made in the first 40 minutes) 2) exiting the trade way way too early - e.g., I was long at 1467.5 at 3:17, but exited a few minutes later at 1469.25. You can see what happened thereafter. As Spyder and others have said, everything you need is in the first month, but to use it well is something else. I have much technical stuff to learn, I think but my major impediments, for a long time now, are psychological....
Give yourself some credit, would you? Well done! Go buy everybody a drink, it will make you feel better. ;-)