Truth be know schizo - I've turned charts on their side..., and upside down..., and stepped father away Just to get a different viewing vantage point ======================= J_S saw what there was to see - he didn't make any of it up So it is there.., it exists.., it fact - and it could have been exploited Just needed to see it developing in real time to do so J_S can RN
Concur ... just picking up on his method which no one else has brought up before. I'm not about to run out and get the latest books on MOMENTUM TRADING. I have my own method it has an edge it does not occur everyday, every 2-4 months actually. I will stick to it and my trading plan which I shared earlier. MOMENTUM is mentioned in that post
If you look far and wide enough, there is always, upwards or downwards, momentum occurring somewhere in the market.
One of the most incisive posts in this entire thread. I didn't really get point 2, but 1/3/4/5 are absolutely spot on.
TO, I agree with you, I have the above points on my desktop as a daily reminder. I offer you my interpretation of point n 2: I think it refers to the possibility to trade choppy price that stays in a range, this is probably seen as noise or something not good for trading but I actually trade it often and even if the reward is limited the risk is also relatively low as you will only have one losing trade when price gets out of the range or actually you may get lucky and be on the right side of the trade for a big move (50-50 chance)... of course I could be wrong with the interpretation.
As my main focus is now placing trades, I am purposely going to refrain from engaging in silly arguements with the likes of SO, who do not read posts correctly. The line, or lines, in the sand, must be known before you risk your money, for if not, you are trading blind. Momentum is price moving, nothing more or less, so do not let it confuse you. You can buy or sell when price has stalled, and still make good money, for again, it all depends on how much you risk, if you can reverse trade, and if you can add to a position quickly. As we keep saying, the main problem is you, not what what price is doing, or not doing, so best to forget about all the small talk, commit to placing as many trades as is required to make your target, allowing for losses, as they are a certainty, and never ever stop perfecting your entries and exits, as they are what makes, and loses, you money. J_S
For me, it means volatility, as volatility is when, and where, you can make the best money. NRB > WRB WRB > NRB NRB > WRB As RN, once again rightly says... rinse..repeat..rinse..repeat or something to that effect You should get the main points at this stage, if not then you need to have a serious look at what you are doing. J_S
S & R breaks all the time, and may at any time do just that. If you're "wrong" about your trade, are you following your plan, and is it plausible? If you flip your chart (DO it - don't just think!): Would you go long or short? Often, to see what is there, we need to forget what we think we know and try something "foolish". Seek what most people are afraid of - ie. being a "fool".
SS, we can act the fool, but should never become one, for fools and their money are easily parted. We are going round in circles here, and this is the way it always is, and will always be, for most. Sometime ago, a chap on ET decided to do a journal for trading CL, and when I saw it, I knew he would not last, as you can not trade CL effectively with small money, as the Nymex gang are notorious for erratic CL movements, which is why I ever only use options to trade CL. When I seen this chap losing $400 a day, and then stopping, I knew he was doomed for failure. I am not sure if has resumed, as I rarely read posts outside this thread. You must know when to stop, and find another market or instrument that you can trade effectively, for trying to prove the impossible to yourself, is being a real fool. We should all know the drill by now, and the main thing to remember is that it is your money, not anyone else's, so pay very little attention to what people post on the internet, especially if you do not understand what it is they are talking about. I use riddles for a reason, as I know people can lose a lot of money if they think something I said will make them money, so I prefer that they think seriously about what I say, and only act on it when they have proven to themselves that it is correct information for them. After all, who in their right mind, would listen seriously to a person who openly states, that... the only thing I know, is that I really know nothing J_S