An open invitation to the hot shots of ET
- Thread starter Anekdoten
- Start date
- Status
Quote from Anekdoten:
Mschey,
Thanks for the first dance
I'm sure most of you are aware of the M top and W bottom formations.
They represent reversals with small risk and decent rewards.
Well, the fact that M formations at the very bottom rarely form and W formations at the very top rarely form sparked the following idea.
Search for the rarest patterns in trading and trade logically against them efficiently eliminating one of the possibilities.
Why ? Because when we have half of an extremely rare pattern formed we have a pretty good idea of where price will probably not go first when it's about to complete itself.
Now, you go.
Anek
That is extremely vague and subjective.
Along those lines, i could say a consolidation of 10 bars followed buy a wide range bar breakout up in a market where the ES futures are positive I should go long if the beta of said stock is 0.9-1.1
Sure it sounds good but try doing it. Its vague, and subjective to each persons interpretation.
uptik, who learned his tactics from a prop shop, would sell his soul for 5000.00. 50 million, what is this, some kind of prank?
Quote from Pekelo:
I already have a thread on Pekelo's 2nd rule of gravity, I mean 2nd gap rule.
My another thread explaining how to trade an ADU and its follow up or other sideways days is good for 30% of trading days.
Now, what do I get?
That's great, could you please post links that way it's in record for the sake of the thread ?
Thanks
Anek
Find a legit prop shop that will allocate at least few million in overnight buying power. Any stock that is overbot and euphoric by any standard indicator, short 500 shares. In fact, you want it to go against you initially. Continue to short 500 shares every 30 minutes as the price goes against you. If it takes few days to turn so be it. If takes weeks, the better since the market will have let you accumulate such a fat position, it'll make you even richer. Cover 1 standard deviation away from your avg price once you are in the money. Repeat.
You will always have an "out" even when things get really hairy. This is how the guys on the cover of trader magazine 30 under 30 do it.
Trading is not about being right or wrong. That's irrelevant. What's relevant is that you closed your position for a profit.
An unrealized gain means nothing until it is closed. An unrealized loss means nothing until it is closed.
You will always have an "out" even when things get really hairy. This is how the guys on the cover of trader magazine 30 under 30 do it.
Trading is not about being right or wrong. That's irrelevant. What's relevant is that you closed your position for a profit.
An unrealized gain means nothing until it is closed. An unrealized loss means nothing until it is closed.
I like to trade breakouts from the classic cup and handle formations on a trending stock. EG VDSI few days ago. Treat the cup as a pullback & buy early in the consolidation if I feel good with the trend and the market in gereral or I'd wait for confirmation of the breakout instead
Quote from marketsurfer:
uptik, who learned his tactics from a prop shop, would sell his soul for 5000.00. 50 million, what is this, some kind of prank?
The only thing I've ever learned from my firm is OO, which accounts for less than 10% of my profits this year.
Fading you has been the strategy of the year.
Your MFW short went from 28 to 75
your CROX short went from 48 to 68
your NFI long went from 17 to 5
The only one I didn't get was NFi b/c it was HTB.
Keep up the good work.
- Status