Inventory Grab Alert 4/30/09!
- Thread starter AMT4SWA
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The reason AMT does not post stops is because he does not have stops. He uses discretion to exit the trade when things are not looking good. He will not be able to teach you exactly how this works. It is a gut feeling and that can not be transferred.
Be very careful following him. You need him to tell you when to exit and he might be missing taking a dump at that time.
Be very careful following him. You need him to tell you when to exit and he might be missing taking a dump at that time.
http://www.eurekalert.org/pub_releases/2009-02/nu-tgf020509.php
Much better than "inventory grab" but it needs tons of screen time and hard work.
Much better than "inventory grab" but it needs tons of screen time and hard work.
With a SHORT entry at 926.75 I would have no need for ANY STOP near current price action (or during any of yesterdays price action). As usual, I keep taking swings (like when I was selling the rotations near the 924's before that final run up to 927.75) and extracting moderate profits until one of my swings puts my trade "over-the-fence"
My trade is 50% covered now and running.......STOP remains at b/e + 1 tick @ 926.50
Actually this is totally off base, I have very specific criteria once the trade is entered to decide if I stay in the trade or not based of cumulative delta criteria. Heck, once the trade has already banged out 10 to 15 points, I am at that point b/e + 1 tick on all remainders.......trade is already running hard green at that point and putting any stop near current price is not optimal. If you really pay some true attention to my past posts it is very apparent what my style of trading is........I take lots of swings at delta zones of support resistance until I get some that run hard!
Well said... thanks...Quote from AMT4SWA:
With a SHORT entry at 926.75 I would have no need for ANY STOP near current price action (or during any of yesterdays price action). As usual, I keep taking swings (like when I was selling the rotations near the 924's before that final run up to 927.75) and extracting moderate profits until one of my swings puts my trade "over-the-fence"
My trade is 50% covered now and running.......STOP remains at b/e + 1 tick @ 926.50
CORRECT........if I scale into a "full clip" position at a significant delta zone then at any point price is 5 points against my cost basis I will go flat (hard stop). For other trade entries which are not at significant delta zones of S/R, then I have a very specific method I use with threshold cumulative delta levels (determined off the delta bar which qualified my entry). I ALWAYS use stops.....just not the "inside the box" style which are taught in most trading books......no thanks!
No problem sir!Quote from EdgeHunter:
Well said... thanks...
SELLING the last run to the 927's was the proper trade set up as shown below.
Why? Price returns to the 924 to 927 delta zone of resistance that I had already called out to watch for BEFORE trade entry. Next, the market traded to 927.75 with a LOWER cumulative delta reading than the last time at 927's (delta divergence with remaining held resting SHORT inventory that did not go neutral......sellers defended that area and down we go). From my point of entry at 926.75 there was absolutely zero indications from the cumulative delta data to have me exit the trade early......the data said stay SHORT and stay OFTEN.
http://www.charthub.com/images/2009/05/10/ES.png
AMT this sounds good. I did not read your older posts and failed to get the full scope of your method. My mistake. Most likely you are a successful trader based on your style not because of the delta zones. But it does not matter how you find S/R as long as you do.
Quote from AMT4SWA:
Actually this is totally off base, I have very specific criteria once the trade is entered to decide if I stay in the trade or not based of cumulative delta criteria. Heck, once the trade has already banged out 10 to 15 points, I am at that point b/e + 1 tick on all remainders.......trade is already running hard green at that point and putting any stop near current price is not optimal. If you really pay some true attention to my past posts it is very apparent what my style of trading is........I take lots of swings at delta zones of support resistance until I get some that run hard!
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