How to Avoid Getting Whipsawed in Chop?

[oldtime]

Quote from Daring:

In the end is about detecting if the market is trending or trend-less, as one requires one set of tools and the other a completely different one, should you choose to dabble with it....staying out is also a position.

no kidding, all the money I ever made was by being on the right side of a trend, but if you keep averaging down on the wrong side of a trend you'll wish you had never been born.

Fortunately, most of the time nothing ever trends, so it's nothing to be concerned about.

But if you keep betting on it, you are going to be a severe victum of whipsaw.

Eventually, that market will trend and make up for all your mistakes. But you should probably know how to handle yourself when it chops, which it does most of the time.

 

[Daring]

Quote from oldtime:

no kidding, all the money I ever made was by being on the right side of a trend, but if you keep averaging down on the wrong side of a trend you'll wish you had never been born.

Fortunately, most of the time nothing ever trends, so it's nothing to be concerned about.

But if you keep betting on it, you are going to be a severe victum of whipsaw.

Eventually, that market will trend and make up for all your mistakes. But you should probably know how to handle yourself when it chops, which it does most of the time.

Some traders may even choose to trade nothing but "chop" and stay out when it begins to trend.

Food for thought or drunk in Xmas?

 

[oldtime]

Quote from Daring:

Some traders may even choose to trade nothing but "chop" and stay out when it begins to trend.

Food for thought or drunk in Xmas?

just drunk and bullshitting, or what you call food for thought, but you talk about the trend and the chop like it is so easy to identify, when in most cases I don't know until after the fact. That's why I bet on the chop, and rely on the trend. The chop keeps me even, the trend makes me money. Getting on the wrong side of the trend and mistakenly thinkiing it is just more chop can be very expensive. Tryng to always get on the right side of a trend can drive you crazy and create whipsaw, since most of the time it just chops., So choose your poison.

A lot of this market just goes on inside your head. It may be trending on the chart, but chopping in your own account.

Avoiding the trend and only trading the chop is a young man's game. Eventually, I ran out of stamina.

So that leaves you with just the simple problem, how not to get on the wrong side of a trend.

 

[Daring]

Quote from oldtime:

just drunk and bullshitting, or what you call food for thought, but you talk about the trend and the chop like it is so easy to identify, when in most cases I don't know until after the fact. That's why I bet on the chop, and rely on the trend. The chop keeps me even, the trend makes me money. Getting on the wrong side of the trend and mistakenly thinkiing it is just more chop can be very expensive. Tryng to always get on the right side of a trend can drive you crazy and create whipsaw, since most of the time it just chops., So choose your poison.

A lot of this market just goes on inside your head. It may be trending on the chart, but chopping in your own account.

Avoiding the trend and only trading the chop is a young man's game. Eventually, I ran out of stamina.

So that leaves you with just the simple problem, how not to get on the wrong side of a trend.

It's fun to seem dumber than you are in ET.

Merry Xmas.

 

[oldtime]

Quote from Daring:

It's fun to seem dumber than you are in ET.

Merry Xmas.

yeah well, you can't do it in real life, or you will lose your ass, I like having a place where I can pretend.

 

[oldtime]

you never know when you post enough bullshit when someone will reply with some useful information that is no longer applicable to them because they have moved on.

And it just might be the thing to get you through the next tragedy

I have found that people tend to wish you good luck, especially as to how it doesn't interfere with their own

 

[Daring]

Quote from oldtime:

yeah well, you can't do it in real life, or you will lose your ass, I like having a place where I can pretend.

Same boat, no different.

 

[oldtime]

Quote from Daring:

Same boat, no different.

it's a dangerous game we are playing

the people that write books tried it once and got burned, so now all they say is "don't do it."

Like the man said, "It beats the heck out of working at Burger King."

But you have to be a lot more careful than the average ET poster who thinks he has an "edge".

 

[tradingjournals]

Quote from oldtime:

The chop keeps me even, the trend makes me money.

Chop keeps you even: why then not replace the chop trades with doing nothing as the latter saves you commissions and time?

 

[oldtime]

Quote from tradingjournals:

Chop keeps you even: why then not replace the chop trades with doing nothing as the latter saves you commissions and time?

just like the lottery, gotta be in to win, they don't ring a bell at the bottom, never know when it is going to start trending, most of the time I don't even know I'm in a trend, until it's all over