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Question for Grob/Hershey...
- Thread starter makosgu
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rider,
actually it wouldn't have killed me if i reversed after the washes...also if i did better washes. might have even made some money.
chicken,
you need to read more and post less.
actually i found a jack quote that might address my issue, but i'm not sure....looking for comments. it seems to be regarding practicing wash trades (but if all the trades in a given choppy period are likely to be washes, it's still applicable no?....this is all given that i'm at the beginner level)
"***Go in on the away side of the channel you have rolling. you may make a little money each time. If you are doing good washes then do a reversal with the wash and that will sharpen you up a little cause you ware doing neutral biased pairs. I can tell you that people invariably favor wash practice in a biased way. This specific comment should give non weasels another clue as to what they are missing in their stuck mental state. I use weasel as you see to trigger responses from non weasels The fruit person is the easiest controlled non weasel at this point"
sorry i couldn't find the direct link to the quote.
actually it wouldn't have killed me if i reversed after the washes...also if i did better washes. might have even made some money.
chicken,
you need to read more and post less.
actually i found a jack quote that might address my issue, but i'm not sure....looking for comments. it seems to be regarding practicing wash trades (but if all the trades in a given choppy period are likely to be washes, it's still applicable no?....this is all given that i'm at the beginner level)
"***Go in on the away side of the channel you have rolling. you may make a little money each time. If you are doing good washes then do a reversal with the wash and that will sharpen you up a little cause you ware doing neutral biased pairs. I can tell you that people invariably favor wash practice in a biased way. This specific comment should give non weasels another clue as to what they are missing in their stuck mental state. I use weasel as you see to trigger responses from non weasels The fruit person is the easiest controlled non weasel at this point"
sorry i couldn't find the direct link to the quote.
Dan,
I'm going over some of your trades to see what I've got for comparison. However, the first thing I thought of was the early morning rocket short yesterday at 9:50 am (bar 5).
Conservatively estimating, you would have gone short @ 1197.0 and covered @ 1195.0 for 2 points. There was more there, but this is just from briefly looking at EOB values for MACDh and Stoch (14,1,3).
HTH
Anthony
I'm going over some of your trades to see what I've got for comparison. However, the first thing I thought of was the early morning rocket short yesterday at 9:50 am (bar 5).
Conservatively estimating, you would have gone short @ 1197.0 and covered @ 1195.0 for 2 points. There was more there, but this is just from briefly looking at EOB values for MACDh and Stoch (14,1,3).
HTH
Anthony
Weasel quote:
http://elitetrader.com/vb/showthread.php?s=&postid=225342&highlight=weasel#post225342
(I remember this quote because the first time I read it I busted up laughing)
Anthony
http://elitetrader.com/vb/showthread.php?s=&postid=225342&highlight=weasel#post225342
(I remember this quote because the first time I read it I busted up laughing)
Anthony
I believe that with rockets, you have to have a large move. The one in the am yesterday was (I think) the first time I had seen one really take off. Up to that point, I would see one start then fail and think "This is a rocket?!"
My take away - the rockets are there, but not every day. When the rocket fails, the wash trade is there to save your hide. As Jack put it in an earlier post, commissions are just a movie ticket - an entrance fee - and when I realized that I can have 4 round trips for the price of an ES tick, it became very comforting to think about washing. I'm sure it's going to happen where things move too fast to get out at break even, but for me it's not an issue to get out asap.
Anthony
My take away - the rockets are there, but not every day. When the rocket fails, the wash trade is there to save your hide. As Jack put it in an earlier post, commissions are just a movie ticket - an entrance fee - and when I realized that I can have 4 round trips for the price of an ES tick, it became very comforting to think about washing. I'm sure it's going to happen where things move too fast to get out at break even, but for me it's not an issue to get out asap.
Anthony
Yeah, I do. I'm looking at larger fractals now to determine real moves for real rockets. I did ok, last week.
I also found that during more congested areas (this week) on the larger fractals(i.e. 60 min chart) - I can enter on a rocket signal on the 5 min chart and pay very close attention to the PRV. I get out when there is an A/D switch and volume either stalls or increases in the opposite direction (or price hits the left ST channel).
I'm workin' on it... I'm making more progress with each day.
Thanks for asking Anthony, I appreciate it.
Ryan
I also found that during more congested areas (this week) on the larger fractals(i.e. 60 min chart) - I can enter on a rocket signal on the 5 min chart and pay very close attention to the PRV. I get out when there is an A/D switch and volume either stalls or increases in the opposite direction (or price hits the left ST channel).
I'm workin' on it... I'm making more progress with each day.
Thanks for asking Anthony, I appreciate it.
Ryan
Quote from sulli:
Yeah, I do. I'm looking at larger fractals now to determine real moves for real rockets. I did ok, last week.
I also found that during more congested areas (this week) on the larger fractals(i.e. 60 min chart) - I can enter on a rocket signal on the 5 min chart and pay very close attention to the PRV. I get out when there is an A/D switch and volume either stalls or increases in the opposite direction (or price hits the left ST channel).
I'm workin' on it... I'm making more progress with each day.
Thanks for asking Anthony, I appreciate it.
Ryan
Way to go sulli. It can be done. Avoiding marginal situations is key even if it means not trading some days. You need pace for rockets but you also need some direction. You can have pace on choppy days too.
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