Yes, what I take from you post is that you have not controlled your risk properly. What I have said about market movement is that markets like to correct between levels. This correction process happens in a way that is simple to observe. It is called the WRB or Wide Range Bar. When this happens most retail traders find themselves on the sidelines watching it go, just like the Energizer bunny. Often this is the floor and/or institutions who are trying to "strand you". Yes this is as though you were stranded on an island. If you have a position on, and you do not act promptly, you are stuck on an island asking yourself, "what do I do now" and your answer is always the same "wait"...This is what I call a "losers dialogue". The way to keep from being "stranded" is to anticipate where a WRB might come in. Look at the market on different time frames I use the 60 min and 5 min charts. Scan left for previous WRBs and look at the price levels where they have occured. At what price point did the last WRB happen? Are we near any previous point on Monday? I dont want to be overly critical. I do want to say that having "an idea" of where this might happen can be "good enough" if you have a plan in place, and know what you will do when you get a signal. If not, you are still going to be watching when it happens. Put in your daily, weekly and monthly pivots and check things out closely. If you continue to use them I think you may start to see what I am talking about
Not quite sure what this means would love some info...I guess market can't go to zero but.... Anyhow, Looking for Upmove on Monday to 1330's with consolidation into friday's Employment data.
Ah... once I doubted, but now I know and understand. E ;S; F... ? As long as USD continues downward moves vs Euro, minimal risk in being long US equities. What's your upside vs. what's your downside?
all markets look poised to break- out to me.s&p, dow, nas. but the chop is killer and i agree - so much uncertainty becasue the dollar is t-anking. until the markets break this range convincingly - i favor commodities. oil looks nice. nice pullback into support around 70 and some nice setups in oil sector . i see silver continuing up this week and forever. gold who knows.. i personally have really hated the nasdaq lately. has become a nightmare of algos and fake breaks and dirtiness. no moves for the sort of stuff i like to trade...so am trying to be disciplined and jsut leave it alone. but sad - b/c last few years this was where i made the mortgage payments... have a great week
Lots of bad news all weekend on the energy front, with the mention of the word "crisis". That means new highs for the DOW. GOOOOOOOOO!
Ok mkt dropped down and found some support at 1310...... Im happy i had a bearish bias .... now will see how mkt reacts tomorrow at the 1310 area. made some good $$$ today..... but still hurting from last week
Well well.... mkts appeared to have broken out of its near 3 week chop chop range on Friday. I didnt think it would happen till next week. But just how sound was this break out?? Solid... or... all looks but no substance? Next week will tell.... my money is that it will come down to fill the gap... there ws no volume to back this move up