Search results

Another common denominator was/is: Averaging down in the hands of an inexperienced trader, a recipe for disaster. Averaging down in the hands of an experienced trader, a powerful tool. Averaging down when wrong and/or into infinity must not be assumed when one is addressing a seasoned...

Ive been in a few prop firms, those who were consistenly profitable had one common denominator, averaging down.

We think different, It lies all the time, I particularly love it when I catch it lying against the predominant trend, it does wonderful moves when questioned :)

Never said it can be wrong, just said it may lie.

Ever seen a strong close, followed by a strong gap down ? Price will be the first one to lie of its IMMEDIATE intentions.

Of course there are variations, but that's because "always" does not exist in the markets.

Jack, As a courtesy to a man of mature age, you must value your time left, therefore, I feel obligated to tell you, I do not read your posts.

I don't agree with how he trades but if he got the top, it merits accolades, don't you think ?

Disagree, if you can identify both correctly, the failure of one is the confirmation of the other.

RM, Little stronger short now as I liked some of the levels ADT hit yesterday and its price action today. Mixed the puts a bit to compare end results.

Funny enough I'm witnessing market turns as we speak, if these are indeed the highs for a while, and we do get the expected hard drop, I will be the first one to take my hat off.

Guaranteed ? Are you suggesting leverage on shorts ? If there is one thing Ive truly learned in the markets is that there are no guarantees, yet you making it sound like you cannot lose, be very careful.

When the picture is not ultra clear, staying on the sidelines does wonders.

You cannot assume a larger timeframe or fractal trend can boss a counter smaller timeframe or fractal trend. Breakouts will occur when one of the following occur: A larger bosses a smaller countering or A smaller bosses a larger countering It's up to you to decide who's going to...

Imho, trend is very important, because once it its defined, unless such trend has opposing trend forces (from other timeframes or fractals) conflicting with it, it is highly probable to continue. Trend, if any, is defined by examining the previous price action and it is specific to data...

Used the term fractal because if one is using tick charts or range or constant volume based bars, the word timeframe, is not appropriate. Certainly not a follower of JH. Redneck, I will respond appropriately once I finish some personal business.

Precisely, but waiting for one fractal to fail in order to get trend alignment is always an option.

Thank you for sharing your wisdom, could you please post an example of what you consider a logical and safe counter-trade in your eyes? I tend to take very little, if any.

I enjoy reading trader's psychology in public forums, not just this one, but others across "The Net". Watching how traders think and act, watching them get trapped, then enter a phase of denial by adding to positions doing very poorly because the trend just kept going. One thing that has...

You need a convincing signal to trade, otherwise you risk running into chop. Price dancing up and down the previous close. It is not easy at all, otherwise most wouldnt fail at daytrading.