Very well put.
Hard to do with futures though because of holding seven to 10 days and over the weekend. Larger stop is hard to stomach as well. But if it is at a daily support you can get your stop to even pretty quick.
Predicting Short Term Vs Long Term Moves
- Thread starter Fundlord
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Very well put.
Hard to do with futures though because of holding seven to 10 days and over the weekend. Larger stop is hard to stomach as well. But if it is at a daily support you can get your stop to even pretty quick.
When you see risk possibility due to a closed market, consider buying premium instead of the instrument.
For example, last Friday I was bullish AAPL for a Monday morning pop, but I knew I had to hold through the weekend, so just went for weekly premium and eventhough the trade worked very well, risk was precisely defined in the rare case I would be wrong
Do not be afraid of the overnight or weekend holds, find ways around it to secure risk instead of skipping them, in other words, don't invite unlimited risk, but don't skip opportunity either.
Predicting the future is gambling, to me. -- It's way easier to master one market, if that's all you focus on.
Pick a soulmate in the market...and understand it on another level. (trade one thing only)
Pick a soulmate in the market...and understand it on another level. (trade one thing only)
When you see risk possibility due to a closed market, consider buying premium instead of the instrument.
For example, last Friday I was bullish AAPL for a Monday morning pop, but I knew I had to hold through the weekend, so just went for weekly premium and eventhough the trade worked very well risk was precisely defined in the rare case I would be wrong
Do not be afraid of the overnight or weekend holds, find ways around it to secure risk instead of skipping them.
I'm with you on that.
I LOVE options for that very fact. Options allow you to buy half size (relative to point value) if you want as well. Good upside, defined risk and no stops to get run.
Just bought IWM 120.5 weeklies as a sim trade to get my feet wet again.
I have a fairly consistent system with weeklies ( if the stars line up right
There are usually about 2-3 really good QQQ, IWM and SPY weekly trades a month. I love buying for $0.20 or less on Monday and selling at $0.75 - $1.00 on Friday.
Easiest Timeframe To Predict Moves On
Fact - it does not matter - it all the exact same
$70.42 - is the exact same on all TFs
Any given time - is the exact same on all TFs
Any give MM/DD/YY - is the exact same on all TFs
S or R - is the exact same on all TFs
A horizontal channel..., or vertical channel - is the exact same on all TFs
Risk - is the exact same on all TFs
Trade breaks down the exact same place - on all TFs
A PT / whatever PT - is the exact same on all TFs
All active participants actions - are reflected exactly the same - on all TFs
What is different:
The speed (amount of time) - one has to evaluate..., act..., recover..., repeat
The advantages:
Smaller TFs provide a look into the inner workings of a given larger TF bar / TF
Larger TFs provide an overall view of the landscape / smaller TF(s)
Whether you agree or not - it the way it is
So damn much mis-information floating around..., it not even funny
RN
Fact - it does not matter - it all the exact same
$70.42 - is the exact same on all TFs
Any given time - is the exact same on all TFs
Any give MM/DD/YY - is the exact same on all TFs
S or R - is the exact same on all TFs
A horizontal channel..., or vertical channel - is the exact same on all TFs
Risk - is the exact same on all TFs
Trade breaks down the exact same place - on all TFs
A PT / whatever PT - is the exact same on all TFs
All active participants actions - are reflected exactly the same - on all TFs
What is different:
The speed (amount of time) - one has to evaluate..., act..., recover..., repeat
The advantages:
Smaller TFs provide a look into the inner workings of a given larger TF bar / TF
Larger TFs provide an overall view of the landscape / smaller TF(s)
Whether you agree or not - it the way it is
So damn much mis-information floating around..., it not even funny
RN
I strongly disagree with most of what you wrote above, but I'm sure our views of price action differ.
Many ways to skin this ugly cat, therefore, it is much more important not to impose, fact
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Feel free to disprove to whatever ability you're able
Pick the instrument..., pick the TFs - have at it
RN
Feel free to disprove to whatever ability you're able
Pick the instrument..., pick the TFs - have at it
RN
Unfortunately to do so I would need to disclose a very strong edge and understandably so, that is just not something I'm willing to do.
Agreed ... it might bring down the establishment and create world chaos