Well, I went short at 9:57 (4021.00), "convinced" that it was just a small retrace to that strong downmove, to continue. It did indeed go down after that. 3 minutes later, it was at 17.00, with increasing volume. I was waiting for a continuation rather than expecting a positive reaction due to news. In the moment I realized what was going on, it was too late, I had given 4 points back, plus 2 on top of that. It only took a few seconds. Sure, in that moment I was really annoyed, it was one of the most classic "Had I only closed out 1 second earlier" moments. But that's just the way it goes. It was a stupid play, but my stop protected me. You will do stupid things at times, but make sure you wear a helmet. How did you go today, anyway?
Sorry about the llama stuff. It just caught my funny bone. I didn't post the last portion of my response to electricsavant and I will just pm him with it. Your most recent summary is so persuasive. I know you will be good at persuading people to "be at one with the market". It is the only way and it is a KISS thing finally. OT Small potatoes. What caused me to post in the first place was Baruch. I was so taken by his pronouncement that he could not see anything. I find it to be unecessary to not be able to see anything. I do not understand his persistence in this matter; nor how or why he thinks up the Q's he does.
Hey Jack, Welcome back. The Llama stuff actually really cracked me up. I was just stunned by these gigantic and still growing posts. Just "being part of the flow" is the essence of all trading, but one that the fewest people seem to ever grasp. I have been talking to people mainly about "edges" here, since this is a concept they're a lot more familiar with. The next step is of course to really be part of the flow on a continuous basis, balancing, washing etc rather than just biting "chunks" out of each move. And on top of that, doing the same thing on all timefractals. However, I see that's simply not applicable for scalping as such, besides I haven't really SCT'd much myself lately, so I kept it to this, rather than going in continuity as well. I don't know what happened to Electric, he went all mad and spat the dummy on me big-time. Ah well. Regards, Scientist
Scientist, I too use button trader for scalping. I think it is an excellent platform that has opened me up to new forms of trading. I was wondering if you ever use button trader's weighted depth feature. It weights the depth by level, assigning a greater value to bid and ask volume. Check it out. I was also wondering if you could comment on ES to NQ differences in the depth. Often times I see opposite imbalances in these two markets. What do you do in these circumstances? Also I am looking for anyone who is interested in sharing old button trader simulation files. Please PM me if you can be of service. Thanks. Keep up the awesome trading!
OK, now that you've all read so many posts of mine, can you tell me any issues about myself that I need to work on? ... Besides brevity... I can still see several. Which ones would you point out? This is an exercise I normally do with trading buddies, but it could be interesting here.
I wasnt trading the DAX, just watching. I took 2.5 pts out of that nice move down in the ES which is about usual for me. I was totally convinced the market would sell off today but was not able to cash in on it. After it did sell off a bit I was sure it would bounce. I never catch any big moves.
Hey easyrider, Interesting post. You know why? Because it's full of "deadly language". Have you scrutinized mine? Mine had a deadly word in it: "convinced". You can never be convinced. You can never know, you can never assume. If you "think", or "assume", you're dead. I had the arrogance to afford such a thought, and as you see, I paid for it! Now I'll go in on yours: If you were "just watching", then why did you put on a trade? Compulsion? Why do you think it's "about usual for me"? You know what impact that has on your psyche? It means that: - You think you can't do more, thus probably won't (limiting belief) - You have an excuse for not attempting more You have installed an undeniable truth in your brain that states this, thus becomes reality and limits you. There is no real reason "why" it should be "about usual for you" - right? "I was totally convinced the market would..." Think about it. How can you know what's going to happen? And very particularly, how can you be "totally convinced?". If you are, it means both your conscious and your subconscious are limited to your conviction, how can you fully take into account all parameters? Nothing is deadlier than bias. If you're biased as a short-term trader, you will die by the sword. "I was sure it would..." See latter paragraph... "I never catch any big moves." - Now what a heavyweight limiting belief is that??? See above. If you think you'll never catch any big moves, you never will. Your mind is the universal power over your reality. Preferably print, then read this, it's awesome and it's free: http://website.lineone.net/~jamesallen1/think.htm James Allen is one of the greatest thinkers of our time, and very applicable for trading. Better, do an NLP practitioner course, I highly recommend it. Good Luck on Monday! Scientist