I have thought about this and the question comes to mind again after I read the Market Monk blog. It was an interesting read but have no idea how legit the blog is or not. However, what I thought would be interesting to discuss is if this method of constantly being in the market throughout the day would actually work. Basically the jist would be to in the morning take a position and when you get out your actually reverse at the same time so you are constantly short or long. I know for myself I have trading signals that get me in the market and areas where I take profits however for me I am usually not getting out at the obsolute high or low of a move as I am only taking a piece of a move or trend for the most part. So how would one go about getting to a point of being able to reverse these moves and go the other way or what would you look for to make this transition because obviously I would not want to reverse into say an uptrending market as I take profits if I am not near the top of the move. Hopefully this all made some sense. Anyway for the most part I just wanted to see if I could get a discussion going on this topic. I think it is an interesting concept to think about.
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Market Monk
- Thread starter cornholetrading
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Seems a valid site - the guy really knows his stuff and seems very honest.
Reversing - Ive tried and while I like it psychologically, I cant do it on an EOD basis (I have a day job). I think it only works in a continuous intraday setting.
Takes a lot of skill, but all about smaller losses and larger winners, and the abundant use of breakeven stops.
Reversing - Ive tried and while I like it psychologically, I cant do it on an EOD basis (I have a day job). I think it only works in a continuous intraday setting.
Takes a lot of skill, but all about smaller losses and larger winners, and the abundant use of breakeven stops.
What's the website of the guy ?
I think inallday, what Jack refers to as seamless continous trading, is a very advanced concept and not something you can just decide to do. You have to work your way up to it. You start out taking small pieces and gradually learn how to hold through the minor trends. Reversing is the last and most difficult piece of the puzzle, imo.
i think you are better off waiting for hi probability setups. if you are always in you are forcing the issue.
http://marketmonk.blogs.com/pmtc/
Wow, turned $5000 into $8 million in 23 days!?!
http://marketmonk.blogs.com/pmtc/2005/04/day_22_trading_.html
That's a little hard for me to swallow but its a good read anyway.
Wow, turned $5000 into $8 million in 23 days!?!
http://marketmonk.blogs.com/pmtc/2005/04/day_22_trading_.html
That's a little hard for me to swallow but its a good read anyway.
Trading a market while being in a position the whole day.
Yes, this is possible.
For example, I usually trade in the upright position.
But you could probably trade in most any position, I think.
Yes, this is possible.
For example, I usually trade in the upright position.
But you could probably trade in most any position, I think.
LOL, I do remember reading somewhere in the blog that he actually gets flat for economic news releases so its isnt literally true that he is in the market the whole dayQuote from aPismoClam:
Trading a market while being in a position the whole day.
Yes, this is possible.
For example, I usually trade in the upright position.
But you could probably trade in most any position, I think.
Quote from winter:
LOL, I do remember reading somewhere in the blog that he actually gets flat for economic news releases so its isnt literally true that he is in the market the whole day
flat for economic news? On his face or on his bacK? Please let me know by 2:25 or so this afternoon, if possible.
Thx
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