Today was one of the strangest days for me. I would have expected, based on the intraday range and increase in volatility that I would have had 3-5 really good setups but I ended up with just one (12:04 short, which was excellent). Once all profit tgts were hit, I kept sifting through my time frames for another trade but there was just never enough of a retrace for me to re-enter short nor were there any long setups. A bit annoying but what can you do.
I love this market
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Quote from NoDoji:
It should've gone up on the news.
Why?
Because it did.
The only "dumb money" is in the hands of the gamblers, which is most retail traders because they trade on news and fundamentals instead of price action. (I'm only referring to short term traders here, not long term investors.)
What I see on that chart is that anyone who bought or sold the close of any of those little pre-news bars on a 5-min day trader's chart has enjoyed equal price excursions as of this point.
Understanding of intraday price action concepts, not intelligence, creates profitable traders.
I trade what my models tell me the markets told them.
Trading is a zero to negative sum.
EUR/AUD traded as low as 1.5030 area. +170 pips from the 1.52. So, one day later, price showed that the buyers at 1.52 were not among the smart money.
Trading is a zero to negative sum game. Consequently, there can be two camps: the smart money (minority) and the dumb money (the majority).
The reversal may have caught the majority by surprise. On the QQQs it was an outside day. I wish you better days in the future.
omg, you have to be a top five fruitcake over here. i'd invite you to post the +112% in trader p/l but that thread is for reality.
God help you my boy; there is not a soul on this board who believes you and even the attention you crave will get old to us soon.
