trying very risky L here at 4071
stop at 63
stop at 63
ES Journal - 2023/2024
- Thread starter Buy1Sell2
- Start date
Bidless market. Sure, there may be bounces, but this is a sweet trend down for now.
out here b/e
So my best guess is we'll get some type of decent bounce today -- doesn't necessarily mean we close positive but that's at least the gameplan. Maybe that fits with @themickey algo.
I like to come into each day with a possible scenario (or scenarios) based on a combination of factors so I'm responding to price action more intentionally rather than just reacting impulsively in the moment.
I like to come into each day with a possible scenario (or scenarios) based on a combination of factors so I'm responding to price action more intentionally rather than just reacting impulsively in the moment.
We cant see into the future, but when it looks bleak, that's what throws off the majority because they assume PA & TA is logical, regardless of the fact the majority frequently are on the wrong side of a trade using TA PA.
Great point. What just happened or what might be happening right now isn't necessarily indicative of what will happen in the future. Conventional PA / TA is limited in scope because it doesn't give you the full picture.
For instance, using your analysis, that gives you the rationale to fade the rally yesterday and buy the weakness today -- because you're not looking at current PA as "the truth" as to future direction.
It is very easy to sucked in to a current move to validate a belief. For instance, market opening up yesterday could have supported the bullish view. Similarly, today opening down could have supported the bearish view. It's important not to blindly use current PA.
For instance, using your analysis, that gives you the rationale to fade the rally yesterday and buy the weakness today -- because you're not looking at current PA as "the truth" as to future direction.
It is very easy to sucked in to a current move to validate a belief. For instance, market opening up yesterday could have supported the bullish view. Similarly, today opening down could have supported the bearish view. It's important not to blindly use current PA.
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For a moment, assume the theory of TA, PA was flawed........
But most don't get to that stage of thinking, might this be flawed.
They don't for one second want to go down that dangerous track as it will expose they've been duped.
Humans have a prospensity to follow the crowd, fit in, conform.
You can see that in my favorite subject, religion.
The glue of religion is not so much God, but society gatherings, belonging, cliques.
The glue which keeps flawed TA going is group think, conformity, following, imitating, not the winning.
Like a donkey being led by a carrot, there is always the hope they'll crack the secret indicator.
But most don't get to that stage of thinking, might this be flawed.
They don't for one second want to go down that dangerous track as it will expose they've been duped.
Humans have a prospensity to follow the crowd, fit in, conform.
You can see that in my favorite subject, religion.
The glue of religion is not so much God, but society gatherings, belonging, cliques.
The glue which keeps flawed TA going is group think, conformity, following, imitating, not the winning.
Like a donkey being led by a carrot, there is always the hope they'll crack the secret indicator.
LOL. Before Mickey Mouse is allowed to make another post bashing TA/PA and other methods he should first demonstrate that he have the slightest idea what he's talking about. If not, it's mere noise.
So far this week the Mickey Mouse Algorithmic Method is worse than a coin toss as it's been consistently wrong all week.
His prediction for today is that the markets will rise, so let's see if he finally gets it right. I would be ready to take the other side of that bet.
(for those who are not in the loop, themickey retorted to name calling and blocked me this morning when I politely questioned his flawed reasoning and arguments)
So far this week the Mickey Mouse Algorithmic Method is worse than a coin toss as it's been consistently wrong all week.
His prediction for today is that the markets will rise, so let's see if he finally gets it right. I would be ready to take the other side of that bet.
(for those who are not in the loop, themickey retorted to name calling and blocked me this morning when I politely questioned his flawed reasoning and arguments)