I'm just at the point after many years where I just care about application. Honestly, everything in trading works sometimes. The secret is knowing when to make it work and when to stand clear. This only becomes evident with entries. Don't get me wrong, nothing that you say I disagree with as its obvious on the chart, but just like we can all see a beautiful painting is made from a brush and paint applied to canvas, most of us could not do much with it, even though we all have access to the same tools.
"Do trendlines work?" + Confluence of support... SP 4200?
- Thread starter Scataphagos
- Start date
No "talent" required to trade Price TA... just "trade what you see... with a tight stop".
Trust me... I fuck that up easily... LOL
Honestly, my biggest issue is I don't get the wins. I move the target far too often to lock in a tiny profit, especially after it goes against me. My losses are usually bigger than the wins, even though its obvious about 10-20% of trades would hit a nice profit. Its just difficult to hold for bigger wins after a series of losses.
This is why I keep asking about seeing trades. I want to see what other traders do when they have a string of losses. The secret to trading is really in managing the trade. You can have killer entries, but if you don't wait for the bigger profits, or if you move stops to break even too early, or if you let losses get too big, any of these things will kill whatever good grasp of PA you may have. So to me, the key isn't about trading what you see, its about what you do about it and how you manage it and how you re-enter, etc.
You're wrestling with "counters"... moves against you position. Counters are always an issue. Price TA doesn't solve that for you, but it helps a great deal.
Of course the market doesn't care about my position, but my account does. And although its easy to just say you will let your stop or target hit, when your entry isn't so good, it sucks watching it go against you even though you know the trade isn't invalidated yet. But maybe after too many minutes without it going your way, you're inclined to lock in a break even exit since you didn't like your entry anyway. These are all the things that can go wrong, and hence why I keep brining up entries since they are somewhat important to trading PA discussions.
Long term view. Monthly
So, what's everybodys call for Nasdaq now?
Lets have a before the fact call rather than after the fact call!
My call, I went long a couple of days ago.
The current markets moves are scary bearish.
However for me a tad early to exit the position.
Me thinks this is typical 'scare the pants off everyone' behavior.
Hoping for a strong bounce from here.
Hope is not a trading plan, it would take a brave soul to go long right at this point.
What do you think?
Shorter term view, daily
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Are you trading the QQQ on the monthlies? Or are you talking short-term?
If you’re asking for an opinion about the longer view, I don’t like equities for Q4. Exited all longs in individual names before Labor Day. But not totally flat stocks; currently holding a couple of names short.
For short-term, I won’t express an opinion except that index futures are better to trade than ETFs.
Good luck!
I'm trading a QQQ equivelant on ASX, NDQ.AX, swing trading.
It appears we'll have a green day today USA on stock indexes.