Quote from yip1997:
I looked at the bar, and used ATR to confirm it. I didn't see the average over 7. The ATR is around 4.
Not ATR. Just simple average of the RTH bars.
Remember, RTH only and over several days.
ES Journal Archive (2006 - 2008)
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Not ATR. Just simple average of the RTH bars.
Remember, RTH only and over several days.
the part that really gets me is that im a systems trader so this was a big swing trade sell signal. these types of setups can take days or even weeks to set up. i waited for this and i blew it with stupid stop losses ( i did not stick to my volatility stop) instead i allowed fear to grip me. i was afraid that the mkt was going to retrace hard and i would have to hold the position for a few days until it turned around. i did not want to do that and instead i allowed my viewing of the chart to dictate the trade. i was afraid that i might be selling an oversold chart pattern that would bite me hard. sometimes the "ST signals" i.e. swing trade signals will trigger during the end of a cycle/ overbought or oversold condition.
bottom line: i second guessed myself and my system and it cost me big time $$$. not in cash but in oportunity loss. i still made big money on the trade in normal standards i.e. the national average daytrader makes $62-$100 per day if they are lucky. well i made several times that but still i hate the fact that i messed this up.
yes i made my daily goal of trading i.e. $500-$1,000 per day but i could have made $6,000 today. instead i settled for $700.00
I THINK I WILL PUKE NOW.
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US STOCKS ERODE FURTHER ON POOR EARNINGS; DJIA DOWN 7%
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No. It all depends on the software.
I said this morning once 910 is breached I have no idea where the low is.
Indeed, I do not even know why it bounces off that level.
Very puzzled.
Indeed, I do not even know why it bounces off that level.
Very puzzled.
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