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Stalker -- on your first point... IMO you are right on with this perspective. As far as larger formations go... you need to know if you are in continuation mode or change mode. Basically trending (R-L traverse) or chopping (L-R traverse). In change mode is where you get your FBO's (and your...

Yup - and as you can see by recent posts they are open to conjecture :cool: It's good to know what alternatives are possible -- you can usually come up with a couple of possible scenarios... keep them *both* in mind and trade "just in time" In other words - the plan is to listen to the...

txuk - yup! run to R - slalom - break. textbook. We've lost touch with a working pace here... our dull period has been somewhat shifted today and yesterday. I'm done for today.

be VERY cautious of a big red bar in the next few bars. EDIT: i.e. if it shows it will probably be a FBO

btw - I don't recommend the trade I took because a) in the midday b) we are in a L-R of a L-R NOTE: (b) is the most likely case - ALWAYS been in an open minded orientation.

Stalker - RE: 10:20 time frame... 1) Awareness thing: Oil report at 10:30 - it can be a big volatility maker (volume producer) 2) The IT is really messy right now. We are LONG from 12/20 with a FBO (12/28 - 1/4). The IT is L to R. So a couple of basic reasons to take the 10:20 trade...

Stalker - I'll make a comment about your trades around 13:00. At 13:10 the pace was MEDIUM. This means you will can expect articulated L-R traverses. Around 13:10 the market had showed you that the direction was short. GREAT! You traded short. Around 13:10 the market showed you...

Stalker - here's my 2c - and hopefully the rest of the guys will throw in some comments too. - entry was reasonable I think it was reasonable to anticpate continuation mode (trending) short when you made your entry... don't try to go back and pick some detail that showed you that you...

OK Stalker - looking forward to seeing your charts and commentary tomorrow.

Icarus - great comments. I'll argue 2 points: 1) If you enter "just in time" you are liable to get whipsawed by a FBO. How is this any better or worse than having a position when the market does a failure to pt3? If the FBO hits my stop - it's not an FBO... I'm stopped out for a loss...

I trade the ST. The one thing that differs for me is I have a FTP on the IT - which overlapped into an IT short... around 12/16. I think that is the difference for me here is this - I saw the trend beginning to migrate into a new IT short around 12/16 -- and 12/27 capped it for me. This...

Well sure -- we were in DU... and the next thing in the sequence is BO. I hopped on in during the DU because the context was saying short. I knew the slow pace would just drift us around in a narrow range and eventually lightning would strike. I'm putting a specific belief on trial here...

Question about the PM action today: OK - I was short at 13:00 anticpating a R-L of the ST short trend. I was in at with a really loose stop around 1268 Well.. the grind from 1300 to 1500 was quite boring and long... so it gave me plenty of time to reflect on my entry. 1) What...

First day back on the screens in quite a while for me........ stank up the place! Got in the groove in the PM... but still a down day for me. Oh well.

interesting -- I don't usually keep an eye on those sorts of things... vol is killing the deal for me.

anybody else trying to trade this AM?

OK - I mean no disrespect... but for some reason this just makes me laugh :D Merry Christmas to all <IMG src=http://elitetrader.com/vb/attachment.php?s=&postid=934537>

Very interesting audio file -- particularly because this was a day when Jack was positioned and waiting for a pt 3 that never materialized. There was some talk about consistency in the thread a while back. It appears that even Jack has his own consistent way of doing things... we *all* live...

The equation we care about is: (% return on capital)/hour Equities take the $/hour cake because capital can be very very large relative to futures. Futures cap out at 40K. Equities cap out at millions. The path is futures => futures + equities => equities only. When you are stocks...