Morning all.
First off, thanks to all the contributors to this thread. My my, 2004 must have been a great year at ET to have so many of you join all at once.
I owe Duref a response about letting trades run for minutes or days. I tried to put together a justifying explanation but got nowhere. Rather than debating this, let me just say that itâs time to give it up and day trade only for now. (Goodbye dearest gaps).
I also neglected to respond to DMâs comments about a job vs trading and gender specificity. A couple of weeks ago I mentioned to a friend that I was considering giving up trading and getting a job. She offered me one at her husbandâs company on the spot. Itâs a great job and still awaits if I want it. Soon I will have to decide. I take no offense in the suggestion that men make better traders. Iâm infinitely better at having babies. What I remember of the study that was discussed a few months back is that they make better SCALPERS. Iâll have to keep that in mind.
Next, I should confess that I know almost nothing of SCT and JHâs work, other than the concept of always being in the market. Should I start with the DAX Scalping thread?
Some of last nightâs visitors to the thread were a little cryptic. Initially I thought Cassandra was warning me about false shakeouts before breakouts. I read a thread back in early ET days where the author put a rectangle around any area of consolidation and felt that a false breakout preceded the actual breakout more often than not. But dear Duref âs comment about the 1 second chart led me to think that she was suggesting instead that I use limit orders at predetermined levels to get the best price. A buy order a predefined distance above an opening range perhaps?
Lao suggested that I be inscrewtuble (thereâs an off color joke in there somewhere) and to trade where no one else is trading. My understanding is that the volume of trades occur close to known s/r levels. Does this mean I should take the trade farther away from those s/r levels? Discover whether s/r holds or is broken down, sacrificing a little profit but avoiding being stopped out? The suggestion that volume is meaningful at a price turn is a surprise to me. I have watched volume spike up in order to push through a resistance level, but have not noticed the reverse. Perhaps I can discover what Lao is trying to show me by looking through some charts.
Worse luck with Thomas Jacksonâs message. âGit thar fustest with the mostestâ Buy volume breakouts?
Like a Greek Tragedy, some of the later posters (so good of you all to stop by), provided a little Comic Relief, no thinking required (just a great vocabulary or a dictionary). In the event that anyone is interested I understand that DID is primarily a North American disorder and may not be a valid medical disorder.
http://en.wikipedia.org/wiki/Dissociative_identity_disorder