did u average into your spy put position ?
ES Journal Archive (2009 - 2010)
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did u average into your spy put position ?
Thanks Guys.
@ Picaso, Yea I was looking for something else besides that. Also hoping for something stronger than the Put/call ratio (I've been using that lately). I'll check out the sites listed by Wanderer
@ Picaso, Yea I was looking for something else besides that. Also hoping for something stronger than the Put/call ratio (I've been using that lately). I'll check out the sites listed by Wanderer
Well, yes. Last night's 8 pts was a pretty decent one, I would call it huge. Also bigger the 2nd gap, the more likely it will get filled at least partially.
Generally I don't count 1-2 pts as gaps, although technically they are. Another thing is that the gap is based on the cash close and not the ES's 4:15 close, what can be very different. Let's say the market is falling and at the cash close ES is 1080 but by 4:15 it drops another 4 pts. If overnight it keeps dropping, I expect it to fill the next day at 1080 and not at 1076...
Thanks for clarifying the small gaps (1-2 pts) and especially the cash vs ES close. I'll do some playing around with it tonight.
Always looking to add another high prob setup.
I could have had it after the breakout level but although I was drawing lines for CL, I got involved in a different trade which was the breakdown of GBP/USD.
The good with CL, is when it moves, it moves far. The good with GBP/USD is it does seem to respect TA much more. I was able to get short on it and only took 2 ticks of heat on the trade, and if I got in at their price level, I would have only taken 1 tick of heat on the trade, so an amazing call by them, but they were too chicken to take it.
I think I need to wake up when market opens and see if their other calls are this good, they have almost no trades in the afternoon so I can't evaluate their service.
I take the trades using futures instead of forex so the bucket shops can't run my stops.
I would have made more on that trade, but once it got to 13 ticks of profit I moved my stop down to around 9 ticks since I wanted to make sure I got a profit on that trade, and then it went up hit my stop and then continued down.
I think you just move your stop to BE once you are say 5 - 10 ticks of profit, which may be a better way to manage stops, or I need to do 2 contracts, and get out of the 1st and bring the 2nd to BE.
The good with CL, is when it moves, it moves far. The good with GBP/USD is it does seem to respect TA much more. I was able to get short on it and only took 2 ticks of heat on the trade, and if I got in at their price level, I would have only taken 1 tick of heat on the trade, so an amazing call by them, but they were too chicken to take it.
I think I need to wake up when market opens and see if their other calls are this good, they have almost no trades in the afternoon so I can't evaluate their service.
I take the trades using futures instead of forex so the bucket shops can't run my stops.
I would have made more on that trade, but once it got to 13 ticks of profit I moved my stop down to around 9 ticks since I wanted to make sure I got a profit on that trade, and then it went up hit my stop and then continued down.
I think you just move your stop to BE once you are say 5 - 10 ticks of profit, which may be a better way to manage stops, or I need to do 2 contracts, and get out of the 1st and bring the 2nd to BE.
Quote from NoDoji:
On CL, just have a sell stop or buy stop in place in advance 1 tick before the breakout level. I've come to the conclusion that's the only way to not miss the move during RTH. With the stop order in place you don't have to stay glued to the screen
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