Bob's Bias
- Thread starter bobcathy1
- Start date
Quote from bobcathy1:
Because there is a high probability of reversal close to that time.
When you want to use time as an exit tool, it is always better to employ some timing method to determine when to exit. To exit arbitrarily at 11:00 will not work as good as if you have exit predetermined by timing method.
Today was another "Bad Day at Blackrock"
The bias is flat now since at 11 it was minus -2 points.
Maybe it would be a better idea to enter at 10 and exit at 11.
These little economic announcements seem to play havoc with this idea.
It is so funny that the week I start to post this, it stops working.
Oh well, I have to trudge onwards.
The bias is flat now since at 11 it was minus -2 points.
Maybe it would be a better idea to enter at 10 and exit at 11.
These little economic announcements seem to play havoc with this idea.
It is so funny that the week I start to post this, it stops working.
Oh well, I have to trudge onwards.
Truthfully Walther....if it is going well, I let it ride.
This morning there were a lot of wiggles that ran through pivots and my losses were pretty nasty. I would have been better off hanging on.
In reality, I exited all on the first mid pivot it hit, I went short when it went back under the open, but got wiggled out as it went back up into the mid pivot.
I have a rule, 3 bad trades and out for the day or a loss of $1k.
I hit my limit plus some.
If you look at the chart, you will see pivots on it. Sometimes these are a blessing, sometimes a curse. I pick curse for the last two days.:eek:
I think the trading style is the only advantage. Consider the abiliy if any in being that honest with the market.
