
Quote from kidPWRtrader:
Started off the day banking 600 dollars trading 1 contract. Lost 300 in the chop so far.
Here's the picture... need to exercise more discipline. I even said to myself... here come the fakeouts and I still took the bad signals.
Short ES 1478.5, out at breakeven.
Damn, I had that 2180 mark as resistance the first time it hit it...then I went out for a doggy walk...and came back and saw the second hit and subsequent drop. So, I mised it.Quote from c.profitt:
anyone catch that double top this morning?
Quote from Thunderdog:
JJ,
Please don't assume that I don't know how to trade. I am not in the market to learn anyone's system or method in its entirety. I have my own. However, that does not preclude my interest in the rationale behind certain choices on the part of others. Such insights can occasionally improve my own method. Therefore, when I ask a question, please try not to read more into it than what I asked. You have already done this before. Please don't do it again. Thank you.
Quote from kidPWRtrader:
Here's something for today... don't know if this is usually the case but today its happening more often than not.
If ES doesn't confirm a move on NQ chances are it won't happen. Anyone agree/disagree?
Also here's a general rule for those that find themselves slowly being blead to death by stops. Don't let them get hit. First two bars that close against you get out (if your first profit target is not reached). Or, first wide bar against you get out (if your first profit target is not reached). Something to think about...
This is just a general rule, but try the exercise. Think of your stops as insurance... try to prevent the problem before it happens though (meaning, if the pattern is wrong, get out, don't wait for your house to burn).