Hooti's Journey

HW (homework) for class
premarket econ reprt

Bracket order 6:30
tgt sell limit 1298.5
buy stop 1297.5
sell stop 1296.5
tgt buy limit 1295.5

buy stop triggered, but didn't go immediately to tgt, so I moved sell stop to BE.

Stopped out BE 6:31:29

.....about Brook's comments on 'trading to trade' versus 'being there to make money'. It didn't fit one other category I see I fit in.
I see I have been willing to lose money because I was thinking it was part the price of learning. Definiately not just trading lazily or as a hobby or brain exercise only. I knew I wasn't there. I had in mind NoD's losing... wasn't it almost half her account? And many others have said they lost 15% or so in the process of figuring some things out. I was thinking that if that's the price, I would pay it. But I see that allowed my thinking and actions to be sloppy.

Obvious better alternative thought:
I'm here to make money while I'm learning.
Very different mind-set.
 
Hooti

There is losing money… then there is wasting money

Big ass difference


We wasted money along our journey – please try not to do the same

RN
 
Quote from ammo:

on think or swim, on your es chart,click studies,click profile,they will come up,look for the widest and narrrowist points and the ledges,wide is a nip,narrow is cleavage and a large support or res is a ledge,mrkt tends to move to these points,add them in with the trendlines for supp and res added a crude drawing to the chart below
More...

cleavage or nips?? Potential ledge-rdemain??

OH wait, you explain how it works. Was distracted there for a second!
I"ll backtest and also put it on my charts today.

Al Brooks spent a lot of time figuring out 'measured moves' as S/R, and in my classes I think they use a lot of relational fib moves in addtion to obvious TL.
So this is another or different way to get those pieces of information in....

When you were talking about the pieces moving together, you were talking about more than confluence of informantion? Knowing which pieces... to pay attention to...
 
Quote from Redneck:

Hooti

There is losing money… then there is wasting money

Big ass difference


We wasted money along our journey – please try not to do the same

RN
More...

Great point.
 
nips,widest spots are where the most time was spent at a price,if the price was 30 and we moved to 20,the sellers would have profited,the buyers stuck,the remaining buyers would be sellers at the return to 30 so it would stall ,oversimplified but you get the gist
 
8:19 short at 1293.50
stop 1296
out -2.5

Ahhh I see now what Brooks was saying when he predicted a '30 pt drop day' almost every day I watched him. Then it happened and atthe start he said that this could be it, but if it was he was sitting it out because he did not trade atypical days. Which sounded crazy to me. But today I left in a big stop expecting an atypical day....
Loss or waste?? :)


Ammo, I can put the study on a daily chart, but it seemed awkward on a five min chart. Is there a way to do that?
 
heres the same chart reduced to 1 hour,same dotted line in center ,possible support, blue line is a ledge from a few days back ,lines up with dotted line,see the gappish action on the 2 longer es 1 day market profiles gap is noted in rectangle,notice its not fillled
 

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