greetings, after a relaxing vacation "off shore", i have returned and am psyched to start again. our gann channel figures for the nasdaq at this time/price juncture are 1333 to 1277. long above, short below, flat in the middle. i am currently SHORT the nasdaq from an earlier entry. the dow's channel is 8507 to 8297. long above, short below, flat in the middle. i am currently FLAT the dow. best, surf
greetings, perhaps this missive should be titled " how i learned to stop worrying and love the gap" LOL. needless to say it looks probable that the nasdaq will gap severely against our short positions at the open. the way the system will handle the gap is as follows: do not do anything for the first 10 minutes, mark the high of those 10 minutes, if the market surpasses that high--CLOSE and look to reverse above the previous stated channel figure. if it does not surpass the 10 minute high--HOLD SHORTS. that's the strategy for this morning in the nasdaq. as you know, we are FLAT the dow, long AOL and SHORT the nasdaq remember, bear markets are always puncuated with short sharp rallies--this may be one of them. hanging tough, surf:eek:
At what point did you re-long AOL? I saw you go long day before yesterday around 12.90 or so, but thought you got stopped out.
man, what a day. honoring the systems 10 minute rule , we stayed short the nasdaq. we added to the original shorts entered at 1333 when 1277 was violated and are now 100% short the nasdaq index. the system fired shorts in the dow when 8297 was broken, capturing 90 dow points at the close. looking forward to wednesday. all the best, surrrf
Surf- thanks for posting this in the morning....I probably would have closed the QQQ short at a loss.....but I stuck it out for a decent gain....I did cover near the close ..just didn't want anymore overnights.....but Thanks again.
Marketsurfer, Just wanted to drop you a line and tell you that I really enjoy the journal and commentary... Your approach to the game and the method you employ reminds me sooo much of one of my fav Einstein quotes "Everything should be made as simple as possible, BUT NOT SIMPLER!" Anyway keep up the great work and journal! Continued Success ------> Commisso BTW; Im glad you took notice of that book rec I made on that coincidence thread... you especially would enjoy it
congrats uptik ! nice trading !! i have found that the 10 minute rule works well when trading the figures. best wishes, surf
thanks for the post. yeah, i tried to buy the book from amazon but they are out of it. i am presently trying to locate it. i really like your P E A C E word game, and missing your journal. i tried to send you a private email regarding the art. i really like the "eve" piece. best, surf