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comments 5/23/06 (Tuesday)


14:25 EST - I very much wanted to buy the LOD but have kept myself off this trade because the potential to the upside according to The Ranked Profiles is not great versus the risk to the downside. (i.e. 2 of the ranked profiles show a break-down in the day during this time frame.)

14:43 EST - Since that decision above the market has ticked 1 tick below the LOD so my original order (subsequently pulled) would have been filled to the tick and the trade would currently not have suffered any heat.
I will wait this out and make another note towards the end of the day to see if this was the right thing to do.
I'm feeling very smug that I did not take that long and so saved myself many points there. I pointed this out to mpcentric and he said that the ranked profiles were not the only reasons not to take that long. He pointed out the double TPOs at the bottom of the profile that needed "to be taken out."

The original comment in this topic begs further analysis of the The Ranking Page project. Is this a tool to use for actively trading the markets or is it a filter tool to keep you out of trouble? Perhaps one way of using this is not as an entry/exit tool but as a safety tool to keep you out of the less probable setups.