actually short under 1081 was waiting for signal, not anticipating which is better but still yielded a quick point. Don't want to extend your welcome on a potential trend day. At first trade what you see not what you think then trade what you think not just what you see
Yeah you are funny... IMO you got a bit lucky with BBOX (unless you really know that stock or your followers popped the stock) it was right a daily 20MA R and it goes all over the place intraday. Kind of stock on which you risk 50 cents to make a point or so just not worth it. Anyway I think newbies serious about trading should learn a few stocks by heart and not try breakout strategies from the bull market, like buy above... , sell below....
I can't remember who said it, but its said "Id rather be lucky than smart", and if I can be lucky often so much the better right? Brandon
The problem I see people having with breakouts these days isn't that don't work. It's just that most traders never studied them well enough to discern in which instances they are most favorable to break out as continuations and in which instances they will most likely fail. In today's trading the breakouts which worked in the afternoon were the stragglers... Those that didn't perform as well in the morning as the overall market but still hadn't hit any real strong intraday resistance. Thus, while the market was overextended intraday and needed to take a breather, those stocks were ready for another inning. The difference can be rather slight, but if you look at BBOX compared to the QQQ for example, while BBOX was pretty uniform this morning in its upside move, the QQQ started out with a burst and then had to push itself to move higher, like a person long past their prime trying to climb a mountain. Thus, the QQQ rounded off at highs while BBOX just hit a plateau halfway up the mountain. At any rate.. come on Brandon... don't you think you could have squeaked a bit more out of BBOX? You only mentioned it once to your "followers" and that was a good thirty minutes before it did anything... I think you should try harder next time dang it.. and no more excuses about half the traders you teach only trading futures!
Breakout still work sometimes but the best traders unload their position into it. And the reason chatroom operators say things like buy XYZ above .... sell STP below... is that they can always get away with the bad and scratched trades saying something like oh yeah it didn't trigger or it didn't look good so we never took the trade or often like nowadays the breakout will look terrible and choppy so chances are if you took it you went nowhere for the first 30 min. But of course since chatroom operators never give THEIR real entries and exit (when they place trades at all!) they always win, if the breakout worked they stayed put if it didn't they exited or didn't take the trade. Just the reality...
It is a shame about message boards, email and the like, because so often people can come across in ways they do not mean and as people they are not in life. It can be difficult to have an intelligent conversation without people taking something the wrong way, or taking it the right way but not being able to discuss it rationally because of the time it takes to actually get to know someone online. People are more often prone to conspiracy theories and the like and with one post start a cat fight that lasts for weeks. It doesn't even matter that there is nothing constructive to be gained from it.. just a number of people wasting their time when they could be doing something worthwhile. All that is accomplished is someone hating someone else or hurting someone else for no real reason.. no justifiable reason anyway. So, I apologize for my snide (albeit truthful) comments in reponse to an innuendo I perceived as unfounded. Sincerely,
Three years ago tomorrow Toni and I started operating a "commercial" site. When we started we had 83 members. Today, three years latter we still have 39 of those people. During that time I have seen most chatrooms and traders leave the game. We currently have 215 members. I think that this speaks to the quality of our work and our integrity. During this time we have had losing trades, losing days, losing weeks and even a losing month. We try to be as fair as possible in our tracking to make it representative of what people could do in the room. In fact, there are times when something will move too fast and produce a rather large gain, but because it was not possible to get for the majority of people we don't track it. If something stops out and falls out of bed through the stop, we track it that way. We never give ourselves the benefit of the doubt in our tracking, because the market never gives you the benefit of the doubt in your trading. Also, whenever I take a trade that is presented in the chatroom, I post it in the room. If there are questions about things I very often will post my OES and P&L's to clear things up. You can think whatever you want about breakouts, the fact is you are wrong. If you take the time to review the idea's I have presented on this board, most of them have been breakouts, most have been very profitable and I think I have only had one stop. The best traders I know learn between 1 and 4 setups, and they learn the setup and the core philosophy around them very well. The point of this thread was to establish that there are good trades out there, and you can still make a living in the market. The point of this thread was not to get into a pissing match with you, hopefully we can avoid that. Before I started this thread I spent a lot of time wondering if it was worth the time and the attacks I knew I would get. Out of 210 members, 4 of them came to us from ET. Im not here to get members, simply to show what is working now. I would like to get back onto the topic. If we can not do that, then I'm not going to do what many others have done, and simply stop wasting my time posting on this board. Brandon
Brandon please just ingnore the dumb remarks and attacks and jsut proceed with your journal if you will. We all have different ideas on our trading strategies and that is why we come here and share them with the board. Now once again, this goes on and on and on, if you disagree with something fine let it be heared, but just because it doesnt work for you doesnt mean it wont work for someone else. So Brandon, I hope you can just ignore the silly attacks and keep posting your trades and ideas, i would be very grateful, as it is always refreshing to see what works for people in this mkt enviroment. thnx man.
No silly attacks here. Just a technical debate that degenerated when Brandon thought he was funny The fact is he hasn't responded to my challenge of real calls and just dodged the whole thing with silly responses. Anyway believe what you want guys.I even posted once a link to their daily column as a recommendation. It's good to go to a few chatrooms(TFMST,LBR among others are good) but don't expect precise entry/exit signals. Then you should move on soon and develop your own style .
<i>The fact is he hasn't responded to my challenge of real calls and just dodged the whole thing with silly responses.</i> What would you call the idea's I have presented here?...fake calls? Most of them have been given with plenty of notice and time to get in. In addition to that, I have given "real calls" in my chatroom for 3 years now. When questions have arrisen about my trading, I have posted my real account statements and order execution logs. And you know what happens? The complainers still complain. <i> It's good to go to a few chatrooms(TFMST among others) but you should move on soon and develop your own style </i> I say this almost every day to our clients in the room. It should not take you very long to pick up the basics, and from that you should be able to do this on your own. The goal is to be a trader, not someone who has to be hand fed like a dog. There are many people who choose to remain in the room beyond that amount of time for a variety of reasons, friends are there, extra set of eyes etc. Read back a few pages on this thread, there is a discussion I had with a member about leaving trading and my chatroom. That was done in the main channel and then posted here. If I don't feel that someone is getting a benefit from being in my room, I will tell them that, Im not here to rob anyone. Brandon Brandon