If you like the calls here, then check out
http://www.elitetrader.com/vb/showthread.php?threadid=9334
http://www.elitetrader.com/vb/showthread.php?threadid=9334
Margo's Swing Journal
- Thread starter margo_trader
- Start date
tampa,
I still stand firm with my original position. That kind of setup will ALWAYS be high risk and one I will never take. IMO, "good" trading is all about risk/reward. For me personally, OBJECTIVE entries for longs are.....1) support 2) double bottoms 3) breakouts from consolidations 4) uptrend lines...........if I buy anything other than those spots, I'm leaving myself open to a HIGH RISK trade and that's not something I like to do. The CCU setup pointed out looks more like a reaction to an action........a MAJOR breakdown followed by a bounce that IS NOT measureable. The easier and lower risk trade, IMO, is still as a short on a further rally up from here at resistance. There are two ways to trade any market, and the difference between a ROOKIE and a PRO is that rookies wait for the reversal and the PRO's are taking profits as the reversal it taking place. If your going to play in the big leagues, you stay objective but you have to trade like a PRO. Sure, I get stopped out A LOT more than I like trading this way, but the price of a tight stop and commission is a small price to pay to get a low / no risk entry.
I still stand firm with my original position. That kind of setup will ALWAYS be high risk and one I will never take. IMO, "good" trading is all about risk/reward. For me personally, OBJECTIVE entries for longs are.....1) support 2) double bottoms 3) breakouts from consolidations 4) uptrend lines...........if I buy anything other than those spots, I'm leaving myself open to a HIGH RISK trade and that's not something I like to do. The CCU setup pointed out looks more like a reaction to an action........a MAJOR breakdown followed by a bounce that IS NOT measureable. The easier and lower risk trade, IMO, is still as a short on a further rally up from here at resistance. There are two ways to trade any market, and the difference between a ROOKIE and a PRO is that rookies wait for the reversal and the PRO's are taking profits as the reversal it taking place. If your going to play in the big leagues, you stay objective but you have to trade like a PRO. Sure, I get stopped out A LOT more than I like trading this way, but the price of a tight stop and commission is a small price to pay to get a low / no risk entry.
Where has margo gone?
I was just starting to learn something.
I was just starting to learn something.
mattjclark,
I haven't gone anywhere. Between work and trading, it has been difficult to find the time to post the past couple of weeks. I'll try to get something up this weekend.
I haven't gone anywhere. Between work and trading, it has been difficult to find the time to post the past couple of weeks. I'll try to get something up this weekend.
AWESOME!!!!!
