Reading price action isn’t rocket science, all else is unpredictable. All you can do is have great risk management skills and either bank more winners by accepting smaller reward or having fewer winners but making a killing when you occasionally nail a move. Who is printing money in retail trading? No one.
ES Journal - 2021/2022
- Thread starter Buy1Sell2
- Start date
Reading price action isn’t rocket science, all else is unpredictable. All you can do is have great risk management skills and either bank more winners by accepting smaller reward or having fewer winners but making a killing when you occasionally nail a move. Who is printing money in retail trading? No one.
There is no point in going back and forth with you - but I will end with this.
The above is your opinion - and an incorrect one for that matter. That is fact.
I have never heard of any retail trader that printed money via trading, each trade is a psychological mindfuck
I went long at the closing today, for a trade that I anticipate will carry us to the 4000 area. I don't follow news and made this decision on technicals, but I imagine that it is possible that the market is starting to realize that Democrats will lose power in both houses in just 2 and a half weeks. The technicals reflect that something is happening that should carry us higher with the weekly now showing upward bias along with the daily. Monthly continues it's negative bent and I look for this lift to eventually be beat down and I will look to short again in the future. I'm long from 3763.00. Mental stop for reevaluation at 3635.
So much for that forecast...or prediction. Had my face ripped. Ggrrrr!%%
OK;
good forecast. Much easier to forecast than predict. You watch what happens by close of week, close of today
That ACD thread was extremely popular several years ago... a lot of interesting discussions.
https://www.elitetrader.com/et/threads/the-acd-method.170318/
If it makes you feel any better I took 42 points off of the upside (which wasn't much considering the range)
(GaspIf it makes you feel any better I took 42 points off of the upside (which wasn't much considering the range)
) Unbelievable! When you make 100+ points (as I've done a few times recently, ahem), I would be in tears, singing and praising "Kumbaya, my Lord!" 
(Gasp
Hell ya. Triple digits is a good day!
I hope and think this is a misunderstanding. By bollocks moves, I can only assume that @Overnight means that Friday or last week at large isn't a trend reversal which will get continuation higher, but a move that will just as quickly reverse down again in the short term.
If so, I perfectly agree with the definition of a bollocks move.
Of course, Friday was perfectly tradeable and technically exploitable. No argument there.
On a side-note, it's quite funny that @Overnight is a bit of a perma-bull and the only one here to my knowledge who is 100 % open about his long position which is in drawdown land and he's the one arguing the bear side and continuation lower. LOL.