Bob's Bias

Could be the end of month holiday weekend is affecting your strategy this week. Keep posting for a couple weeks and see what happens. Even 80% has losing streaks.
 
Quote from pspr:

Could be the end of month holiday weekend is affecting your strategy this week. Keep posting for a couple weeks and see what happens. Even 80% has losing streaks.
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That makes a lot of sense to me pspr......could be.:)
 
I wish you good fortune, but please re-read "Fooled by Randomness." Seriously, do you really have an edge from this brief morning market scan and "gut feel", or has it been mostly luck and wishful thinking?

Well, if you do have an edge - Keep posting, 'cause we all gonna be rich!!! :cool:
 
Bobcathy, Interesting keep it up. I would just like to point out my observations. It seems to me if you go short then you definitely don't want to close out at 11am because the europeans run up future prices at that time. Usually futures drop back and 11.30 or 11.40 is better to cover. If you are long 11 am seems ideal to sell to maximise profit.
 
Quote from bobcathy1:

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:
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Take it as a friendly advice. Your method of entering and exiting cannot be successfully traded no matter what bias is. As far as I see the bias is right, Bob rocks !! but entry method is not complementing it .
If you are interested, email me at walter904us@yahoo.com and I will email you a chart with simple setup I was using for this kind of trading with bias.
 
First, thanks for the thread. I always like reading whether I agree or not.

A question:

Why have a bias at all - let alone a bias based on gut-feel?

I find trading with a bias is great if you are right, and it sucks if you are wrong...overly simplistic, I know. But true.

I would rather go into each day with no bias and see where the market takes me. For me, a bias would cause me to force trades that went against what the market was "telling me", or not take trades that should be taken because they do not match my bias.

Just my thoughts.
 
Quote from maggandre:

First, thanks for the thread. I always like reading whether I agree or not.

A question:

Why have a bias at all - let alone a bias based on gut-feel?

I find trading with a bias is great if you are right, and it sucks if you are wrong...overly simplistic, I know. But true.

I would rather go into each day with no bias and see where the market takes me. For me, a bias would cause me to force trades that went against what the market was "telling me", or not take trades that should be taken because they do not match my bias.

Just my thoughts.
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You do have a valid point.
But, when I look at my chart, more often than not, the market already has the same bias going on.
Today the first move looked very short to me on the chart.
But for the purpose of this Journal....only Bob's Bias is being used.:)

And for the record.....this is not the only method I use. I have two accounts.
 
Quote from Walther:

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.
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would you give an example, please.
 
Everyone please keep in mind that this is Cathy's thread and that any discussions should take place between ET'rs and her. If you'd like to discuss alternate topics amongst yourselves please either PM each other or start your own thread. Any off-topic posts (and the topic is Bob's Bias and how Cathy plays it) will be removed. Thank you.
 
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