Melt UP!!
- Thread starter Stok
- Start date
Since you are new, I mean you no harm. I've been here long enough to see 20 or so new users sign up, make a call, and then disappear into an oblivion.
Its a pattern recognition thing
PS No I am not going long, I am a strictly a day trader and am done for the day as of 3:30
Its a pattern recognition thing
PS No I am not going long, I am a strictly a day trader and am done for the day as of 3:30
you really dont get it- 90% of daytraders lose money- that meansthat 90% are buying when they should be selling.
That is exactly whats happening now. Everyone at home buying GE at 17 and at 17.10 today will get fried. Me? I shorted it at 17.
If it goes to 18, I will short more. but odds are in my favor after such a runup.
And how the heck are u done at 3:30 as a daytrader. The main rading is the first half hour and the last half hour. makes no sense.
That is exactly whats happening now. Everyone at home buying GE at 17 and at 17.10 today will get fried. Me? I shorted it at 17.
If it goes to 18, I will short more. but odds are in my favor after such a runup.
And how the heck are u done at 3:30 as a daytrader. The main rading is the first half hour and the last half hour. makes no sense.
Well I did, but I wasn't going to until Bernanke called the end of the recession. Not working out too well.
It seems to me that if you were to take the time to post your opinion that the market is over-extended and I should be dumping my long positions, that you would be able to answer a simple question, which I already put to you.
I'll repeat it.
How do you define a market that is over-extended?
We're all waiting to be enlightened.
Because trading the ES, for my style, isn't about the open or the close. Just so happens Wednesdays I always end at 3:30 because I have statistically found that late on Wednesdays I've seen the most outliers in my system (forcing me to hold overnight which I do not like to do). I have decided that this must be due to positioning in front on Thurs 8:30 am jobless claims report.
Maybe its different for you stock traders, that you must bang the open and close but not so for index futures.
PS I'm not disagreeing with you about you initial premise, I just commented on how frequently brand new posters appear, make a call, and then don't ever post again under that nic. Sorry to have assumed you were in that boat.
Maybe its different for you stock traders, that you must bang the open and close but not so for index futures.
PS I'm not disagreeing with you about you initial premise, I just commented on how frequently brand new posters appear, make a call, and then don't ever post again under that nic. Sorry to have assumed you were in that boat.
Okay, you're basing your recommendation off indicators.
And what's your timeframe? Obviously it isn't intraday from the tone of your few posts.
So, days, weeks? Whatever?
If you're going to make a specific market call and criticize others in your first few posts -- and you're one of thousands each year to do it then vanish -- then share your targets.
If you've been trading for the "past 9 years or so", you'll be aware that calling entries is really the easiest part of the game.
Identifying targets here is what separates pretenders from traders. (Check out the threads here under 'Journals'.)
At this very moment I could send you to a thousand "experts" who are offering advice on when to enter whatever. But it doesn't amount to squat.