ES Journal - 2012
- Thread starter Buy1Sell2
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Really? Where did this come from?
I`m sure I do post a lot of useless posts, but what exactly did I post today that was useless? Please let me know.
Was the advice I gave to Dan useless? And what kind of advice did you give him except the same old talk about the ego without any practical benefit?
I think your ego and pride was hurt when I said he should not use anything more than a 3 point stop as a DAY TRADER in current market conditions. 3 points is a wide stop for a day trader in these conditions, assuming proper entry and not entering in the middle of nowhere. Dan is a day trader from what I know and my advice was coming from that perspective. No reason for you to feel hurt.
Not everyone has the pockets, nor the interest to keep averaging against strong trends with the best hope being to breakeven if lucky, i.e., "The market is wrong and I am right". Maybe you should take a deep look in the mirror and realize that you are fooling yourself with all this talk of the ego and what not. The day you can start playing the long side and actually admit that you are wrong, then maybe, maybe I can take you seriously.
Now, I`m sure something inside of you is offended, agitated and even furious by this post, but REMEMBER, that is your EGO.
Do not identify with it.
Is your ego still hurt? It is clear to me that you do not know much about how the market moves intraday, which is sad, considering you`ve been doing this 20 years longer than me.
I did specify the conditions and levels I were looking at for my baseline scenario to play out. If not this, then that.
Translation: The odds favour new highs or new lows since we are well below the average RTH range in recent history, but there is a small chance that the high and low is set since narrow range days do happen.
Quote from Laissez Faire:
Continued failure at this level and we get a double top or possible H&S variation which could be a good short.
I then wrote this in advance of the actual head and shoulder completing.
Unlike you, I trade without an ego and I entertain multiple scenarios throughout the day. I`m not afraid to admit that I`m wrong and I trade what the market is offering. Up or down, I don`t care one way or the other.
Consistently shorting strong up trends and adding to losers does not reflect someone who trades without an ego. It reflects someone who wants to be right and not to mention ignorance about how the market moves.
Stop preaching about the ego like a hypocrite, until you fix your own issues.
Do you still not understand?
Sorry that you are a little stressed out. Today will be better.
Let us see if we can help you a little bit. Others more than me.
Can you tell us a little bit about your set up (indicators or whartever)? Or do you fly from the hip so to speak.
May be you can tell us what it was that put you in the trade at 1450. Let's ignore the "stop" for the time being.
There will be a few more questions after you answer this post.
Answering might help other readers too
core CPI running hot monthly and yoy. now watch the feds start focusing on just CPI instead of stripping out food and energy.
Like most traders on ET, you have no criteria for entering and exiting trades. Is it technicals? Fundamentals? Price action? Where your stops are isn't the point. The point is determing your edge and trading within those parameters. Most people here seem to either be addicted to averaging down or trading like headless chicken doing paper napkin charting.
Thank you.
It is a pity that your ego and pride blocks you from actually learning something new. Intellectual humility and an open mind is a prerequisite for new learning. A virtue that many older people foolishly discard.
A final lesson:
It does not reflect very well on you to publicly attack me without any reason and then not being able to answer beyond less than stellar one liners.
Clean up your own act before you swing against me one more time. Until then, keep drawing your trend lines from 1850 and average down against strong trends. I pray you`re not broke when the real crash comes.
Harsh words? Maybe, but you asked for it. And if you are offended by this, remember that it is your EGO that is offended.
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