ES Journal Archive (2011)
- Thread starter Buy1Sell2
- Start date
- Status
One man`s up trend is another man`s down trend. It all depends on the time frame.
For day trading purposes, yes, the trend has been up all day, no denying that.
But on higher time frames, very much indicates that we are around a potential turning point and could trade lower from here.
So, if one is looking to capture a long-term move, one could utilize the intraday rallies and new highs to position oneself for a sell-off tomorrow. Of course, one always needs to manage risk since nothing is certain.
Less preaching, more trading.
Thanks
For day trading purposes, yes, the trend has been up all day, no denying that.
But on higher time frames, very much indicates that we are around a potential turning point and could trade lower from here.
So, if one is looking to capture a long-term move, one could utilize the intraday rallies and new highs to position oneself for a sell-off tomorrow. Of course, one always needs to manage risk since nothing is certain.
Less preaching, more trading.
Thanks
Yeah!
This post is targeted at those that add to positions going against them.
Why is adding to a losing trade better than getting stopped for a small loss and re-entering ?
Letting the loss and risk increase instead of cutting it lose does not make any sense to me from a trading perspective.
Not trying to be judgmental, I honestly don't find the advantage in doing so so please help me understand.
Thank you in advance for any potential discussion.
Why is adding to a losing trade better than getting stopped for a small loss and re-entering ?
Letting the loss and risk increase instead of cutting it lose does not make any sense to me from a trading perspective.
Not trying to be judgmental, I honestly don't find the advantage in doing so so please help me understand.
Thank you in advance for any potential discussion.
Hi everyone! I missed the PM entirely, as I caught up on some sleep. BUT, same setup different hour
For me, I look to see if the small time frame (i.e. micro) pullback hits its target. If it does, I try to draw up a longer term 50% pullback to see where the bounce was and what the target might be. In other words, the small 50% pullback is drawn in real time, and the longer term pullback is drawn after I get confirmation to see what my target should be. I hope that helps
For me, I look to see if the small time frame (i.e. micro) pullback hits its target. If it does, I try to draw up a longer term 50% pullback to see where the bounce was and what the target might be. In other words, the small 50% pullback is drawn in real time, and the longer term pullback is drawn after I get confirmation to see what my target should be. I hope that helps
GordonTheGekko
Guest
*borat voice* high fives!
if you believe we will move to a certain price but the timing is difficult,you put on a partial and build a position,you add and reduce until you feel you are wrong and close it,if you were right and sold 1150 and covered at 1153,it goes to 1153.25 and drops to 1140,you lose,had you added there you win,if you enter and exit like you do as a scalper, and leave a few on ,you are scalping in and out of a larger timeframe posiition,adjusting the price as the market fluctuates ,hopefully profiting as you do it,while waiting for a move you want to catch and not be out of the market when it happens
I'm still a little confused. In your example above, if you add instead of close at 1153.25, but still end up trading the wrong direction, your loss will be bigger than closing out at the original 1153.00. How is this different from averaging down? Could you explain in another example?
I guess the difference here is we are talking about getting around timing issues (retraces) on larger time frame targets. I guess there is a fine line between averaging down for the sake of trying to be right and having specific targets in mind. Am I right?
- Status