You are hilarious. Thanks for the laughs! It’s not a box method. It’s techniques in a range trading...ROFLMAO. Can’t you even understand that? I don’t expect so by your comments. Furthermore, if you are so concerned about my 200 buck trades just up those sizes to those trades to 20 contracts a blow and see if you might be singing a different tune. If it works for 2 contracts with high win rate then up size and it works the same but on just a larger scale. Instead of a solo guitar you got a symphony. The point is the ratio of success for the trade is the same trading 2 contracts at a wack or 20 at a wack. I was not interested in demonstrating it with 20 contracts at a wack. Most little day-traders can’t swing that. Please make some more comments so I can get some more laughs. And by the way post a few trades of your own doing so live by making the entries and exits via your platform not manually drawing them in. And please state your stop loss when you make your entry. For obvious reasons..I think you might know why..maybe..maybe..LOL. And don’t just “tell” about your exploits and grand trades. Demonstrate them. HERE on ET. Make haste and do it before we lose interest! LOL You are so funny I may have to dub you as laughing RED PUTTER FROM THE 1800’s. ROFLMAO. PS I do want more people in the same area doing the same thing. For scalping it is called liquidity. Give me more. I’ll take it trading size. I need it trading size. I desire it trading size. I will take the jerks..average down..and exit on a good jerk.
I want to look at a potential BO trade. So, looking at what is on this 5 min chart; what would you do? Long or short? If you had to make a decision right now would you prefer going long or going short? Understand the gap up is the open RTH. If you would short where would you short? On the last bar? At the top of it? Or wait for the next bar? If you would go long where would you go long? On the last bar? Next bar yet to arrive?
If the SHTF like it did in 2008 and 1987, you may see why averaging down can be a bad idea. Just gotta' pick the right direction is all. After all, averaging in is just a reinforcement of the conviction that a market will continue in it's current direction, which you got wrong on an entry. But there can be a breaking point. Like Q4 2018. I am VERY glad I did not try to average into my long there, because my losses would have been amplified had I done that. I just cut the losses short, and that decision saved me from ruin.
Of course it is there. The more the merrier. Redpunter is the one against it not me. His stance is preposterous. If he is indeed trading size he wants liquidity. More not less. Why do you come across as angry about comments on liquidity? I know you don’t like averaging down. I am showing the other side and showing how it can be done live. I know you got burn’t doing it. Maybe you didn’t know how? Can’t blame Mr T’s tweets that was before MR. T. wasn’t it or maybe it wasn’t? ROFLMAO
You talking about a two year period. Yea if you are a swing trader averaging down can burn you very bad in bad years. It ain’t gonna burn me because I intraday scalp..ain’t gonna be holding for two years adding and adding and hoping and hoping. I am in... all averaged down and out a few minutes later. Over and over. Would have work in 1985, 86,87, 88, 89, 90.....ad nauseam....bull or bear markets ...up days down days...you name it.
There is ALWAYS a breaking point. Even in intraday scalping. If my premise pans out to be wrong I am out and will look for opportunities to double or triple up in the new direction. Soon I will be whole again and back in the profits. But I have to be psychologically prepared to double and triple up after taking a loss. Many traders cannot pull the trigger.
ok volpri, I'll take a stab at it: => Short the last bar and the next bar up to about the height of the bars from which the last bar emerged Why? the last bar is a huge bar emerging from a trading range, and most of it is in the trading range -- it's not a breakout, it's a very big jerk. It will likely fail. How Far Down will price go ? Most likely to the zone that includes the grey moving avg and the bars from which the gap originated. There, close the short and enter a long. Why? that zone has 2 magnets, and price is forming an expanding triangle that would lead to that zone Even if the rationale here is correct, it still requires a lot of nerve to enter the short.
Guess no one is interested. It isn’t a trick question or something designed to make others look bad. It is to illustrate some points and make some suggestions about PA.