thanks kool..that was volume, the overnight low and an old gap area.....
THX,PAL. i have been keeping track daily of vol areas for the way up...if there ever is one!..lol
notice the lower indicator peaks ever since that darn 929.50 swing high!
btw ... thanks for your work and projections Kool! I've been occupied lately and probably will be for the short term which will prevent much in the way of day trading. So, this is good info as I've been focused on finding the right time and place for a multi-day swing trade. If the ES offers the price level you posted (will be looking at my own stuff too)... may well get long. Will be nice to have confluence of two different approaches finding the same price range/area for that type of trade! Thanks for the updates bud and always appreciate your sharing!
Originally posted by koolblue
think your going to wish you had a stop on Joe! square root method of 957.50-1.382 gives the current daily projection around 873.88!
No need for the stop...I exited for a nice profit days ago near the peak and posted my exit thats what prompted the post from Jim, I don't know his intension's he never replied but sounded sarcastic to me. I don't see what the big deal is anyways, what do Europeans traders on globex @ 1:30 in the morning know about american markets and american traders??? There wrong 80% of the time anyways. After you get stopped out humteenmillion times and then watch the market open and move the way you thought most people have an ahhh haaa moment. But my take on the markets is negative med. term. Since it makes some antsy I'll refrain from posting trade price but I am short and have been since the first neck line break and got a chance to average down on that little run up from 882 sq root +.25= 896.91 area. Never traded above 896.25, beautiful stuff that sq root glad the aliens sheared it with the egyptians lol...and will be adding some more if/when we break the Mon-Tues range <edit> I'll be watching that RTH for the range break and if we gap thru it will be the I.B. break most likely.
thx trapper, feel free to share any thoughts or plain thinking out loud to make trading ideas better. I would love to hear them since thats why I am here...iron sharpens iron. glad the ideas I have gathered from "others" has helped you as well.
Originally posted by trapper
also.... this post proves once and for all one of my trading beliefs.... pain is relevant to the time frame... and the money management system being put in place..... 8 points underwater.... and no big deal... I LOVE IT! your ability to "hold your breath" longer than others... ( based on market and risk perameters )... is one of several reasons you are successfull.....
I don't want to get off topic but I think you hit the nail on the head. I mean think about it..how hard is trading? And add to that a tight stop you are lowering you % on being in the right place at the right time, I think its better to be in the right place (trend) than the time (exact top/bottom) give yourself a bit more to work with. And when scalping if your taking if your taking tiny losses and shooting for jumbo $$$ your in for a rude awakening scalpers ought to have tiny appetites and swingers ought to have realistic outlooks on the markets you cannot expect to take 20points if your not willing to give yourself some slack. cause its hard enough picking the right direction add to that the right timing also and trading is not going to be as profitable as it could be.
well said Joe .....!!!