How about the triangel that built all morning till about 10:43 E. It had at least 3 false breakouts. Triangles have never been my strong point, not that I have many.
AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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Symmetric Triangles forming below the HOD are usually quite powerful but today it failed miserably as it only gave a few points of a run then stopping me out for a minor loss.
Previous to that we had a TL break that worked well but not as as well as it should have.
NQ strong, YM weak did not help either.
Study today's chart for any possible hints that suggested congestion.
Definitely not an optimal day for my style of trading, needless to say not detrimental either just a bit frustrating because of the time invested.
The market is looking for a sense of direction, it has not found it yet there is a lot of uncertainty. It is actually looking more and more like the summer trading I usually shy away from.
Anek
Previous to that we had a TL break that worked well but not as as well as it should have.
NQ strong, YM weak did not help either.
Study today's chart for any possible hints that suggested congestion.
Definitely not an optimal day for my style of trading, needless to say not detrimental either just a bit frustrating because of the time invested.
The market is looking for a sense of direction, it has not found it yet there is a lot of uncertainty. It is actually looking more and more like the summer trading I usually shy away from.
Anek
Quote from Anekdoten:
Great job to anyone that had small losses, broke even and obviously any types of wins today.
You guys are traders!
Now for the sake of our children, bring back the volatility!
Anek
Look at my chart. It is what I call "market timing". Only 3 trades per day. No countertrend trades, no tops/bottoms fishing, no artificial calculations (buy 38%, 50%, 68% retracement etc). All pivot times were calculated in advance, you can check it here
http://elitetrader.com/vb/showthread.php?s=&threadid=95127&perpage=6&pagenumber=33
08-21-07 06:41 AM
08/21 Look at 10/00 11/55 14/40 EST
The other advantage of timing - you know in advance when you will trade, no need to watch charts all time. So timing is the best tool IMO for trader who can read trend correctly.
Good luck!
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