First sorry for this off topic reply, Spyder had been like a saint to put up with all kind of demands so far. But he is under no obligation to do a darn thing. And judging from attitude of demanding something for nothing I wish Spyder will never ever produce any shred of videos. Let them whine I say.
RedDuke, Would you be so kind as to post your 'schedule' for the next twelve months? Please be very specific for the month of December 2008. I will review your progress, and especially for Dec, and will be very critical and demanding.
I like to be the first to post, is this sick or what. seq: YM made B2B, waited for YM retrace, entered at p3, exited for 1p so that I can make the first post. ps. I was so busy so I didn't notice the DOM was still on Dec so that was what I traded.
Here is my first trade of the day. Entering on the BO of the Sym pennant resulting in FTT and point 1. As mentioned in my chart, I wanted to go long earlier than when I took the trade, but the YM volume wasn't looking great initially. I initially wanted to exit around point 2 and get back in later, but when I saw the initial retrace volume I anticipated a quick/short retrace and decided to hold through the point 3. However the sudden surge in red volume in YM and ES PRV also looked increasing red, I exited when my up tape was broken. End result a loss of 1.25.
sequence: 1. M: 11:05 failing to reach LTL, bar closed midrange on higher volume 2. A: confirmed FTT 3. D: market going down 4. A: sell 5. covered at RTL (conservative move. don't want to hold through lunch hours.) ps. Tools not mentioned were not used in this trade.
If you think so, it means it wouldn't benefit you in any way. It means you're far from getting what this is all about, and outs you as a spectator not a participant. This thread and most of its regulars are nice exceptions from what it can usually be found on ET. Let's keep it this way.
sounds like... you made a bundle ! My notes: 1. the market is not going to go up until it starts to trade above its 20MA. ie. when your long trade is below a descending 20MA, you are premature in an uptrend outlook. Your long trade is a retrace of a larger downtrend, and you have to take extra precaution in managing the trade. 2. when you enter on pt1, your anticipation is pt2 and pt3, or FTT and BO/FBO. There is an evaluation at every juncture -- Change or Continuation. There is no need to make a decision 2 steps ahead. Keep practicing your MADA... you are almost there. edit: 1:53pm