Bride of If You Can Draw A Straight Line

[Gringo]

I am not trading intra-day. I post for your guys so that you can bounce ideas against mine. I have no plans to trade intra-day in the near future. For me slower is better and more relaxing.

Gringo

 

[Hooti]

Thanks for your running dialog Niko, it helps me too, and I'm sure others.

edit: Gringo, I understand you are watching. I meant would you have stayed in or gotten out when the demand line was broken, in this particular moment?

 

[Gringo]

Quote from Hooti:


Gringo, I understand you are watching. I meant would you have stayed in or gotten out when the demand line was broken, in this particular moment?

Sorry Hooti, I wasn't watching at that time. For those new to this the DL break is a reasonable exit. Later on as Db was telling Niko, one could choose the swing low or some combination of criteria for exit. I probably don't exit right after the DL is broken. I want to see a significant break of the DL. This would tie in with my making an error in my QQQ daily entry as I jumped the gun.

Gringo

 

[niko]

Entries as spotted in real time.

The yellow short showed up, after I called it a day. Edit 11:12 not so mad anymore

Exits are still a work in progress.

Edit: Lines and squares are traced for discussion reasons, I am currently in the lineless mode.

 

[pinkman]

Quote from niko:

1. I understand the 1st short on the RET, not sure about the close though.
2. Why the 3rd entry?

Close on first trade was being too fearful of the profits evaporating.

3rd entry, I was looking at this sort of thing. Basically I thought thought that maybe i'd been a little premature on my exit on the previous losing trade and that the entry was still valid.

 

[niko]

Quote from pinkman:

Close on first trade was being too fearful of the profits evaporating.

3rd entry, I was looking at this sort of thing. Basically I thought thought that maybe i'd been a little premature on my exit on the previous losing trade and that the entry was still valid.

Why fearful, SL was still intact?

The second entry was kinda risky from my point of view as you were buying a BO and those could be easily be sucked back inside the TR leaving you with an extra loss.

 

[niko]

Today was very productive:

I am going to include variations in the exit strategy, mainly defining when to give more relevance to the S/D line and when to leave the trade alone.

This 50% levels, are really important, still don't know how to include them in the plan, but will surely watch them closely as I progress.

 

[dbphoenix]

Quote from niko:

Entries as spotted in real time.

The yellow short showed up, after I called it a day. Edit 11:12 not so mad anymore

Exits are still a work in progress.

Edit: Lines and squares are traced for discussion reasons, I am currently in the lineless mode.

This was a little tricky. You could have taken a short just after you exited, but traders were clearly not interested in a trend. In hindsight, you could have made six points off the short, but you are range-bound. It's perfectly okay to wait for a better day.

 

[dbphoenix]

Quote from niko:

Today was very productive:

I am going to include variations in the exit strategy, mainly defining when to give more relevance to the S/D line and when to leave the trade alone.

This 50% levels, are really important, still don't know how to include them in the plan, but will surely watch them closely as I progress.

The 50% levels aren't a part of this, but once one is aware of them, it's hard not to think about them. In any event, if one focuses on the demand/supply balance, the trade will appear whether one is thinking about the 50% levels or not.

 

[niko]

Quote from dbphoenix:

The 50% levels aren't a part of this, but once one is aware of them, it's hard not to think about them. In any event, if one focuses on the demand/supply balance, the trade will appear whether one is thinking about the 50% levels or not.

I have noticed that, thanks. See you tomorrow.