Learning Curve...

[forrestang]

Quote from veggen:

Did you catch that H&S at globex high?

I did not.. Again today I had a bias to the upside, I was hoping it would fail, and I would have gone long with target R1. Damn, I have to get rid of this BIAS! It is costing me to much..

I sure did! Unfortunately I did not trade it. I even saw it while it was happening, and had the Trendline violation on my screen.

I am expecting a 'pop up' to the trendline, with a weak bar to short it. But I never get it.

Would have been nice trade with no reason to exit.

 

[veggen]

Quote from forrestang:

I sure did! Unfortunately I did not trade it. I even saw it while it was happening, and had the Trendline violation on my screen.

I am expecting a 'pop up' to the trendline, with a weak bar to short it. But I never get it.

Would have been nice trade with no reason to exit.

Yes she was a beuty!! No doubt about it. If I can give you a little tip concerning the NQ. When you see such a clear pattern like this H&S, take the first BO. NQ is a very furius instrument when it comes to break outs, and often it will not retrace. I know many traders will tell you to wait for that retrace after a BO, before going anboard. With NQ you will often not get that. What I do, If I decide to take it (if my "bias" is going the right way ) I will place a stop order below or under the neckline. When the pattern is confirmed and me filled, if nothing happens and I see no selling or buying preassure, I will simply exit the trade before stop is hit. But of course, this is the way I like to trade NQ and may not suit your style. Just something you might think about.

NQ chopping around VWAP now, probably wipsaw for some time. Going into lunch very soon..

 

[forrestang]

Quote from veggen:

Yes she was a beuty!! No doubt about it. If I can give you a little tip concerning the NQ. When you see such a clear pattern like this H&S, take the first BO. NQ is a very furius instrument when it comes to break outs, and often it will not retrace. I know many traders will tell you to wait for that retrace after a BO, before going anboard. With NQ you will often not get that. What I do, If I decide to take it (if my "bias" is going the right way ) I will place a stop order below or under the neckline. When the pattern is confirmed and me filled, if nothing happens and I see no selling or buying pressure, I will simply exit the trade before stop is hit. But of course, this is the way I like to trade NQ and may not suit your style. Just something you might think about.

NQ chopping around VWAP now, probably wipsaw for some time. Going into lunch very soon..

Ok, it could just be me having paying attention to the ES?

I have been noticing on NQ some patterns just go straight through the trend line and don't look back.

I will pay attention to that more closely.

 

[veggen]

Quote from forrestang:

Ok, it could just be me having paying attention to the ES?

I have been noticing on NQ some patterns just go straight through the trend line and don't look back.

I will pay attention to that more closely.

Yes with ES it is probably better to wait for that retrace.

I cant even tell you how often I have - seen the pattern - decided to take it - waited patiently for the retrace - which never came!! Worst feeling ever But like I said, the way I trade it, if what I expected to happen is not happening (volume picking up and sellers/bying stepping up on the tape) I will exit.

 

[forrestang]

Chart for the day.

 

[deaddog]

What time frame are you trading on?
Why that fast?

 

[forrestang]

Quote from deaddog:

What time frame are you trading on?
Why that fast?

Sorry bud, I keep forgetting to capture the time frame.

All charts I have posted thus far are 1000 Share bar charts.

It actually seems kind of slow to me? I'm doing intraday trend following scalps.

 

[duhmentor]

Quote from forrestang:


All charts I have posted thus far are 1000 Share bar charts.

It actually seems kind of slow to me? I'm doing intraday trend following scalps.

I keep hearing I missed this entry.
I thought that slowing down to a 5 or even 15 minute chart might help. You get the same set-ups eventually.

 

[deaddog]

Quote from forrestang:

Sorry bud, I keep forgetting to capture the time frame.

All charts I have posted thus far are 1000 Share bar charts.

It actually seems kind of slow to me? I'm doing intraday trend following scalps.

Wasn't sure if they were tick or volume charts.
I'm using 5 minute candlestick and looking for short swings.

 

[forrestang]

Quote from deaddog:

Wasn't sure if they were tick or volume charts.
I'm using 5 minute candlestick and looking for short swings.

Any reason you're using long bars instead of volume or tick?