ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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And taking all three grails would have given you a much better result (today). That is the point I was trying to make. How many traders know which grail on a 5 min TF is the one that would trigger a nice range move? Not many. I stand by my choice of trading all grails, rather than the ones one decides to trade or notice. Stats would be a lot more accurate to determine profitability of the grail method.
I would have personally reversed for a long here with a 2 point stop. RSI is giving a long grail on 5, but another 2 oscillators I use are not in agreement with RSI yet, so I would not have taken the trade, perhaps until the time the other 2 concurred with RSI. But since this is RSI based I would go long.
Of course it counts mate, in the end of the day it makes more sense to me to take all signals rather than pick and choose.
Was up 3.75 on last reversal, no reason to stop or reverse as no opposite signal so far.
Anyway I've made my point, it's upto m4a1 to make a decision, I'll just add that PTs are very difficult to establish even for pros (intraday) let alone amateurs like us lot. So why not let the market tell us what to do in the form of a grail, which was the reason for entering the trade, sure as hell sounds a good enough reason to exit the trade based on the same principle.
Have a great weekend all! I am off for some quad bike action over the weekend to Costa-del-Sol
Quote from romik:
Of course it counts mate, in the end of the day it makes more sense to me to take all signals rather than pick and choose.
Was up 3.75 on last reversal, no reason to stop or reverse as no opposite signal so far.
Anyway I've made my point, it's upto m4a1 to make a decision, I'll just add that PTs are very difficult to establish even for pros (intraday) let alone amateurs like us lot. So why not let the market tell us what to do in the form of a grail, which was the reason for entering the trade, sure as hell sounds a good enough reason to exit the trade based on the same principle.
Have a great weekend all! I am off for some quad bike action over the weekend to Costa-del-Sol
Wow, have a great weekend. I get to work some more. I do agree you need to trade like a casino. Take all trades that fit strategy.
B1S2,
Thanks.
You mentioned that :
'By the way, what I meant with the adding shorts would be a net position of shorting, You would have sold your longs with part of your sale.'
In your situation (where long term you are still bullish but short term you are bearish, would you
1) have sold your long and go net short (ie sell futures)
or
2) kept your long, but sold more calls ie net short. And you continue to sell more calls and buy futures (ie average down futures price. Most likely you will double the buying at the support level) as price kept going lower until the point where you think the reversal to upside is beginning.Your position will be increasingly net negative
or
3) what is the method that you use?
Of course, if one turns out to be wrong, then, one have to cut losses immediately.
Thanks
Thanks.
You mentioned that :
'By the way, what I meant with the adding shorts would be a net position of shorting, You would have sold your longs with part of your sale.'
In your situation (where long term you are still bullish but short term you are bearish, would you
1) have sold your long and go net short (ie sell futures)
or
2) kept your long, but sold more calls ie net short. And you continue to sell more calls and buy futures (ie average down futures price. Most likely you will double the buying at the support level) as price kept going lower until the point where you think the reversal to upside is beginning.Your position will be increasingly net negative
or
3) what is the method that you use?
Of course, if one turns out to be wrong, then, one have to cut losses immediately.
Thanks
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