Still recovering so made only 2 trades today that netted a gain of 10.25 points or $512.50. Code: Today's Trade Stat No. of Trades (Round-trip)*: 2 No. of Winners: 2 No. of Losers: 0 W/L Ratio: 2 Avg Gain: 5.13 Avg Loss: 0 Cumulative P/L: +10.25 Points * Breakeven trades have been omitted $300 Daily Challenge (1/04/16 - 1/29/16) Winning Days (>= $300): 9 Losing Days (< $300): 5
up to here..http://www.elitetrader.com/et/index.php?threads/is-it-a-reversal-or-a-pullback.297302/ i was for you
But if you bought at 1841 at 09:48, and sold and went short at 1883 at 12:08, and then covered at 1852 at 14:26, you could have made 73 points!
Man, you're hopeless. The point of that thread wasn't about catching the top or the bottom. It's about riding out the wave (eg. trend) until a reversal occurs. But how would you know unless you can tell the difference between reversal and pullback?
I think lots of people are missing the point with that thread. I understand this well because its what goes through my mind all the time. If in an uptrend, and price starts to hesitate and drop, you're sitting there wondering, is this just a pull back, or a full on reversal. If you of course knew that its a pull back, you could hold it and wait for it to make new highs. If though its a reversal, then of course it will keep dropping. PS. I hope you knew I was kidding about my jab about the mythical 73 points that could have been made!