Ideas for struggling traders

Quote from steve46:

Hey incognito,

Hope you're having a profitable day

Thanks

Steve
More...

So far so good, don't let the jerks deviate you from your plan.

If it was not for helpful threads like this there would be zero reason to visit these forums.

Keep it up and ignore the a-holes.

Incognito
 
Appreciate the kind words

If you have questions PM me.

Also if you want to help us take back the site so it can be a good place for new traders to learn, check out the informational thread in Feedback forum. A group of us have agreed to ignore trolls and their aliases. You're welcome to join. Either way, we wish you the best of luck in the markets.

Take Care

Steve
 
I have to admit, most of this next chart is just experience.

Saw the market breaking down

watching oil, bonds, market breadth including $VOLD, and $ADD

So far the short entry is favorable

As always, risking 2 to make 10
 

Attachments

Again this is experience and I don't recommend it for newbies

I added to my position here

JSSPMK, you will understand why I did it base on our last PM

as can be seen the market came back up and tested the longer MA and failed (at least for now)

Took partial profits on that move back down (+2 pts) so this is in effect a "free trade" now. I will let it run or scratch the balance if it comes back on me.
 

Attachments

Because its Friday and big players do not want to hold inventory long, we are staying short as long as we can.

The market continues to breakdown

We have a couple more places to scale before we get 10 pts at 1272.75
 

Attachments

This will be of limited use to newbies, but may help those who are struggling but have some experience.

In the attached chart you can see this market trying to put in a low here. Price is wiggling around not moving significantly either way. When I see this I listen close to my squawk and I read the tape. By "read the tape" I mean Time & Sales..I have it set to show me 100 lots and above. I am looking for a couple of things. First I want to see the numbers start to accelerate by the window and second I want to see size at the bid (or offer) to confirm the move up (or down) if the market fails.

I would say to newbies, don't bother with the squawk. By the time you get adjusted to it, learn the lingo and learn to filter out the noise, "the pit" will be a thing of the past...long gone..

Learning to read the tape however is a good thing at times, and can help you to see how a move develops. Time & Sales...Look into it if you have it.
 

Attachments

You must log in or register to reply here.
Back
Top