If fear is a big issue, then the 50% levels aren't going to be relevant because you're not going to be using them. You will instead exit at the break of every line. If you entered where you entered for whatever reason, you'd exit at the break of the supply line at 0930. You'd then go long on the retracement thereafter, which is also a higher low. If your long isn't triggered and price instead continues downward to a lower low, just re-enter at the first opportunity.
Bride of If You Can Draw A Straight Line
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If fear is a big issue, then the 50% levels aren't going to be relevant because you're not going to be using them. You will instead exit at the break of every line. If you entered where you entered for whatever reason, you'd exit at the break of the supply line at 0930. You'd then go long on the retracement thereafter, which is also a higher low. If your long isn't triggered and price instead continues downward to a lower low, just re-enter at the first opportunity.
When the dog doesn't bark, it's time to bite(I believe my entry was long at 81.25)
Fortydraws:
may you share you exit? Great entry! Must be great exit too. Are you still reading those books and review and add more to those binders you shared in game's journal? Prob you donot need to do it any more. Thank you.
I don't have my charts or TWS on this computer, but my exit was around 10:05 AM and the exit price was 97.25 or 98.50, or somewhere around there. I held through the hinge, of course, and since I was long from well below the mid-point of the hinge, I was willing to sit through the first big pullback after the BO from the hinge.
I got to say that I do not do much anymore as far reading and studying and taking notes and keeping my journal. I'm pretty much good where I am right now. I keep it simple - I look for the trade off the open, I trade reversals from S/R levels, and I trade retrace entries when the market gets to trending. Once you get it, I guess you get it. I did more studying during that year or so than I did the whole six years I was in high school.
That's a joke, you know. I never did finish high school.
Ok, I did finish high school. But I never did the kind of homework for that diploma as I did learning to trade.
Work hard, but keep it simple. It is the simple stuff that makes you the money.
For what it's worth, I guess you could say that I now understand what DbPhoenix says when he says that he finds trading boring. It really kinda is. But it pays well
Hey 40d, is great to see you are doing fine.
Keep up the good trading.. That is an inspiration for lots of wannabes, including myself.
Keep up the good trading.
. That is an inspiration for lots of wannabes, including myself. I don't have my charts or TWS on this computer, but my exit was around 10:05 AM and the exit price was 97.25 or 98.50, or somewhere around there. I held through the hinge, of course, and since I was long from well below the mid-point of the hinge, I was willing to sit through the first big pullback after the BO from the hinge.
I got to say that I do not do much anymore as far reading and studying and taking notes and keeping my journal. I'm pretty much good where I am right now. I keep it simple - I look for the trade off the open, I trade reversals from S/R levels, and I trade retrace entries when the market gets to trending. Once you get it, I guess you get it. I did more studying during that year or so than I did the whole six years I was in high school.
That's a joke, you know. I never did finish high school.
Ok, I did finish high school. But I never did the kind of homework for that diploma as I did learning to trade.
Work hard, but keep it simple. It is the simple stuff that makes you the money.
For what it's worth, I guess you could say that I now understand what DbPhoenix says when he says that he finds trading boring. It really kinda is. But it pays well
Anyone else hear that dog bark at 9:37:30?
Me neither
Keep it simple, straightliners. Keep. It. Simple.
Me neither
Keep it simple, straightliners. Keep. It. Simple.
Anyone else hear that dog bark at 9:37:30?
Me neither
Keep it simple, straightliners. Keep. It. Simple.
I did, it was nice, lets see if my hearing has improved
Anyone else hear that dog bark at 9:37:30?
Me neither
Keep it simple, straightliners. Keep. It. Simple.
The problem with that was the depth of the retracement after hitting 84, all the way back to 57. If one then waited for a move above 84, he'd have to be very patient and very accommodating to hold a long. It all looks great in hindsight. In real time, not so much.
There are other days.
Edit: And price gets turned back at the halfway level of the 3530 to 3460 downdraft. Anyone for grind?
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