Search results

I dont. Many do wait for it for confirmation. Remember this is scalping so your out quicker than it takes to sneeze. I am comfortable taking trades without confirmation, if you are not comfortable then wait for your confirmation. Piscuy

ES 2500 share and 5000 share bars. NQ 100/1500 share and 2500 share bars. Piscuy

Thank you, I hope I can contribute to your thread and those interested in reading it. Piscuy

Thanks for posting freewilly. The trade i was refering to is the second one you posted. I did see the first one but the potential for it was not that good enough for me due to the fact of the resistance being too close to it. As you can see, it was forming a wedge so no real way of knowing...

Loss of momentum. Think of it this way. If you have lots of buyers in a long trade, you will see price move fairly fast, time and sales will blow by. There is an imbalance between buyers and sellers that drives price up. In order for price to go down, that imbalance has to go thru a...

Last week I had a discussion with Anek and he told me you guys would enjoy to see how I make my scalps. In the spirit of helping I will try to post some trades with as much detail as I can. Here I detailed the three trades I have seen this morning on the NQ. The first trade and the...

For those who are new I cant agree more than to sit on your hands and learn from what you see. Tomorrow fills may be hard and stops may be blown, all depending on the volatility and the instrument traded. So trade with caution.

Im going to talk a bit about a subject that is not often discussed but I belive to be of colossal importance in trading. That is why the title of this post is trading and life. Trading is a very demanding job, no doubt about it. Therefore it is very important to be at ease in your life with...

To expand a bit on this, a method to eliminate bias is to always be on the look for your next short and long entry. If you are flat (no open trades) you should know what points of interest (there should be two, one for long and one for short) you can find on the chart. In them evaluate your...

Glad to help. Let me know if you have questions. Piscuy

If I could give you some advice and if your using your indicators as well, focus on price and use indicators as reference. In time you will get rid of the indicators overall. This is a business of trusting yourself and your system. When you get to trust yourself and your system you will...

Dont be rigid. Take what the market gives you, if your expecting a point and momentum dies at one tick before the point you will give back your profit. Our job as traders is to adapt to what the market gives you and maximize that to our abiliites. If it gives you three ticks take three, if it...

It is a slow day. Be sure that if you are staring to get bored to get up from your computer and take a walk or something. Boredom can have you see things like are not there.

There are some very good answers and I decided to bring the subject up especially for the good and bad assignment many newbies give to trades. A good trade is that trade that is executed acoording to the plan, parameters or rules established by the trader. A bad trade is that which is executed...

What is the difference between a good or a bad trade for you people?

Now your thinking in terms of capital conservation!!! Two thumbs up for you!!!

Im not sure what your doing or how you have your charts setup. As I have always said, what works for one may not work for another so find your own style. In that spirit, I can help you with ideas that work for me and hope they work for you as well or better. I use multiple time frames at a...

I'll have you do a little exercise so that you answer for yourself why so many focus on price, price, price. Yes, oscillators can give some entries, yes macd can give some entries. Now what happens when they diverge? Most of the indicators i know have divergences. Also keep in mind that if...

How about scaling out? When your scaling out you are sacrificing possible future profits for the certainty of locking current profits. Using your example you had 2.5 in your favor, lets say you lock in 1/3 or 1/2 of your profits and let the last half run for more. Two things can happen, you...

Im sorry you had a rough day, but think of averaging down as wishing, praying or hoping. As Anek has said, averaging down is a common mistake, and it is the emotional desire of being right in the long run. Keeping your losses small is paramount in this business, averaging down is doing...