What now ?
Well you could start by learning that you cannot trust the geometrics of rollovered futures.
Try cash indices for the long term truth.
Crazy A
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ES Journal - 2012
- Thread starter Buy1Sell2
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What now ?
Well you could start by learning that you cannot trust the geometrics of rollovered futures.
Try cash indices for the long term truth.
Crazy A
Wanted to say thanks again to all for your encouragement and advice today.
At the low, I felt and posted something like "have we seen the LOD?; order flow long from here on out." Yet, I shorted twice on the way up after I did not get on the move at 75 because I bid 74.75. I can guarantee that if I had gotten long, I would not have been shorting afterward; at the very least I would have taken a profit early, and then watched. But when I miss getting in on a trade, for some reason I want to fade it. This no doubt sounds stupid and it really is. It's self-destructive and quite silly really. What am I trying to prove? Do any of you do this still, or used to? I must kick this habit very quickly and bite my lip and just pay up.
Then I was early on the long until the last dip; shame I did not get back in this move, but at least I did not short it on the way up as I did earlier.
Have a great weekend all, see you next week.
At the low, I felt and posted something like "have we seen the LOD?; order flow long from here on out." Yet, I shorted twice on the way up after I did not get on the move at 75 because I bid 74.75. I can guarantee that if I had gotten long, I would not have been shorting afterward; at the very least I would have taken a profit early, and then watched. But when I miss getting in on a trade, for some reason I want to fade it. This no doubt sounds stupid and it really is. It's self-destructive and quite silly really. What am I trying to prove? Do any of you do this still, or used to? I must kick this habit very quickly and bite my lip and just pay up.
Then I was early on the long until the last dip; shame I did not get back in this move, but at least I did not short it on the way up as I did earlier.
Have a great weekend all, see you next week.
Quote from crazyAtrader:
What now ?
Well you could start by learning that you cannot trust the geometrics of rollovered futures.
Try cash indices for the long term truth.
Crazy A
It should also be noted that a long term futures contract may look different to different people, depending on how they roll it over. Some back adjust to handle gaps, some do not. Even different data providers will construct the continuous contract differently, so there is no real "ES chart" that everyone uses. My ES daily chart does not line up the same as bigsnack's, for example.
Cash, on the other hand, should look the same for everyone.
Quote from JoshDance:
Hey Hurricane: I read some of Phantom yesterday, and have a question for you from what I've read so far. Rule #1 basically says that the trade should be exited if the market does not do what you expect it to do. So for a long, if it starts going against you, then get out.
However, isn't that simply what a stop is for? So often we can enter a trade and the market looks like it may go against us and then it goes in our favor. It almost seems as if he's advocating a time-based stop. In fact I think he mentions that.
What are your thoughts on this? The options for exiting a trade seem to be only 2: a stop based on price, or a stop based on time. What is your interpretation of Phantom?
first rule enter with a half position so if wrong you lose small. if you trade 100 shares enter with 50 and see if the mkt proves you correct. In a classic trend system you would add a total of 4 units into the trend. Its hard to find this stated anywhere but the idea is to add into a winning trend, hard to do. if you could identify a trend day early you would exit at the end of the day with 4 units. Go back and cherry pick a trend day and imagine where the best adds would be, try it with small size the next time you see a big move. By the way the system is not laid out in the book.
Quote from JoshDance:
It should also be noted that a long term futures contract may look different to different people, depending on how they roll it over. Some back adjust to handle gaps, some do not. Even different data providers will construct the continuous contract differently, so there is no real "ES chart" that everyone uses. My ES daily chart does not line up the same as bigsnack's, for example.
Cash, on the other hand, should look the same for everyone.
+1
Have a great extended weekend all!
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