im mainly a scalper but i find scalping slow afternoons very difficult...i have trouble with my entry pts...if theres an obvious trend like todays downtrend, at what point do you guys pick your entry points?...do you just short it right away just cause its a downtrend or do you wait for a signal before you enter the shorts?
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Position trading technique
- Thread starter AnonTrader
- Start date
Originally posted by AnonTrader
im mainly a scalper but i find scalping slow afternoons very difficult...i have trouble with my entry pts...if theres an obvious trend like todays downtrend, at what point do you guys pick your entry points?...do you just short it right away just cause its a downtrend or do you wait for a signal before you enter the shorts?
Anon,
We got an IDNR-4 (inside day, with the tightest range of prior four sessions) yesterday, this contraction in volatility is a strong signal for a trend day the following session...
Unfortunately I fumbled in the morning, but in the afternoon I went short @ 85.5, in anticipation of the TL break around the 83-84 area... I then added to the position each time she pulled up to the falling 20ema on the 2's... One add @ 81 and then another @ 74... I covered the entire position on the blow-off on the 2's around 2:30 @ 69
I hope this helps...
PEACE and good trading,
Commisso
You don't say what you trade, but if your trading somehting related to an index or a stock that correlates with the overall market, you may want to watch the TICKS. After the trend is established, watch for pullbacks and note where the TICK is when the trend resumes. For instance, say you get a pop up at the open and the market sells off. Watch the rallys and note the TICK reading. It may pull back to near 0 or +50, -50. Also Fib retracements are good to note. Also divergences between the TICK and the S&P500 can give some rare but good signals.
i trade Nasdaq stocks...no indexes and im not at all experienced with any sort of technical indicators...all i use to trade is the Sqwak Box, Nasdaq and S&P futures charts and my own stock chart...what is a TICK?...do you mean the up and down ticks of the futures or is that just a term for another indicators?