bltsrtream does tha t first candle signal hold for my 60 or 90 min charts........at opening bell..........u mean i have to wait until 10 oclock cst if open is at 8:30 CST FOR 90 TO CLOSE TO GET THE UP DOWN SIGNAL...... i don't understand you system rule.......or is ti 2 min chart .........do u c you must be specific and have something that works very high ^% or normal trader guys blows the emotions out.....with high # of losers........which time frames are u saying to use? i have mine ...u can't help me .or hurt me.....no offense......just curious.......do u see the little wicks sometimes called tails on the candle........t hat means it was going the other way .......what told u not to go with color o fcandle as it faked u out....don't say trend .....at market open....i only trade emini's......all my rules fit emini's.....best rule for open is don't do it for most.....it is opportunity big for a select few.......who have paid their dues..
It is IMPOSSIBLE to make money in the markets
- Thread starter Ripley
- Start date
well, if u do the mini it's a different matter altogether, it's just not anywhere near as effective; of course on stocks things are not really that simple, u gotta be sharp, check premkt action and try figure out if there's interest in the stock, also other parameters have to be taken in consideration, but still, even with those simple rules it can be effective. the candle tail u were talkin' about can be signal that tells u to cut your losses, also if for example u see orders mainly goin' off at the bid [when u are long] and the stock stalls, u better get out quick without waitin' to see if u are wrong or what. but as a rule of thumb if u have a thick candle formin' quick at the open go with it, if u cut your losses short and when right let your profits run for the next few candles, the strategy pays off big time...sometimes it's even possible to make 3-5% in matter of minutes.
chart parameters i use are 2days 5minutes candles.
chart parameters i use are 2days 5minutes candles.
It is not impossible, man.
Impossible for you =/= impossible for everyone.
blstream
i know what u r saying and i was pushing a little........my brother made and lost a lot doing exactly what u describe.....traded thousands of shares at a time based on days news at market open .........scalping......stocks under 5 dollars....he ended up a loser......what a roller coaster ride.......i don't say it can't be done for sure...trading market open.....also it is a golden goose for the emini trader who understands the limited # of patterns possible each and every day.......eminis there are only 4 scenarios possbiel at any time.......all eminis and probably all markets...don't care now as I have my hands full with YM.........for now....
i know what u r saying and i was pushing a little........my brother made and lost a lot doing exactly what u describe.....traded thousands of shares at a time based on days news at market open .........scalping......stocks under 5 dollars....he ended up a loser......what a roller coaster ride.......i don't say it can't be done for sure...trading market open.....also it is a golden goose for the emini trader who understands the limited # of patterns possible each and every day.......eminis there are only 4 scenarios possbiel at any time.......all eminis and probably all markets...don't care now as I have my hands full with YM.........for now....
the impossible for 99.9% comment exposes the reason u failed ........ego.......u r probably a smart person also......another big zero..........won't help you.......the average guy learns it in 5 years........the genius takes 10........smart guys cant be wrong and he cant lose.....be the loser.........he thinks to himself, i didn't get thru college top of my class by being wrong or loser....arrogance and trading are like oil water.....pour some together and watch them .........if you can't do it only proves you can't do it nothing else........but maybe u could with some maturity of attitude.........that is why u think no one makes it because you placed yourself above others as someone better than the rest.......you set the mental trap and only caught yourself in it........
openin' range tradin' is good as one strategy for diversification purposes, u cannot use it as your main approach, at least not anymore. days go by without decent setups, especially for longs...if u are shootin' for every single openin' u gonna get crashed.
what it boils down to is that it could be a good start for ripley, just to build some confidence...at least he's exposed to decent vola and good gains, not freakin' 5ym ticks. unfortunately looks like he doesnt care no more and he's convinced that it's an impossible taks no matter what u try to do.