Iterative Refinement

Quote from TIKITRADER:

I have to point this out. This is a post from gooch87.
This is a WMCN on the ES daily chart that was posted days ago.
Keep in mind the channel and bar were drawn in by gooch 87 and did not exist when he posted this.

Look at the date right on the ES chart.
Now look at today's ES daily.

Awesome work!!!!

http://www.elitetrader.com/vb/attachment.php?s=&postid=1881749

original April 11 chart I posted

http://www.elitetrader.com/vb/attachment.php?s=&postid=1880195

Gooch is all over it. He was ahead of the move down as well (see the post where he mentions the spinning lady).

Nice going, Gooch! :D
 
I got absolutely smoked in MTH. It opened down 1.48 after a nice little run yesterday. If anyone could tell me how to avoid this, Id much appreciate the lesson. The chart looked great.

Comments needed
 

Attachments

Quote from LittleMac:

...The chart looked great...
The chart you posted is a 30 min? Aren't you supposed to trade equities off the daily chart?

The daily chart shows today's action as merely a FBP, inside yesterday's 'nice little run'.
 
Quote from LittleMac:

I got absolutely smoked in MTH. It opened down 1.48 after a nice little run yesterday. If anyone could tell me how to avoid this, Id much appreciate the lesson. The chart looked great.

Comments needed

It looks like the drop was due to an 'exogenous' event. The company announced a secondary offering.

I believe Spyder & Jack would say that the proper protection against an event such as this is dividing your capital into ~5 streams.

- Talas
 
Quote from Avi 8:

The chart you posted is a 30 min? Aren't you supposed to trade equities off the daily chart?

The daily chart shows today's action as merely a FBP, inside yesterday's 'nice little run'.

Yea the chart shows an FBP. But I'm only trading 100 shares trying to get comfortable to up my shares. My thinking is I woke up down $148(I'm marked to close) on just 100 shares with a 5% gap down increasing red showing on Quotetracker, both my RTL's with BO's from the increasing red on my 30 min chart and the daily showing Stoch and MACD turning down. So I'm shocked over the 100 shares. How am I supposed to deal with it when I'm 500 shares in. 200 even seems nauseating to me if it had been that many.

I'm not knocking the system Ive been here through thick and thin just like anyone but this is a valid point of uneasiness which many have probably felt, and I'm trying to be talked through it.
 

Attachments

Quote from LittleMac:

Yea the chart shows an FBP. But ...

...I'm not knocking the system ...
There are no 'Yea, buts' in this method. It is binary, right or wrong. Simple as that.
 
Back
Top