Joe,
If it is not too much trouble, could you take some time to talk about how you choose your pivots.
Thank you
TV
If it is not too much trouble, could you take some time to talk about how you choose your pivots.
Thank you
TV
S&P daily pivots and break-down & up Targets
- Thread starter joeb8822
- Start date
SURE, what I do is look at at the index or you can do this with
a stock or whatever you trade and see areas of support
at many different time frames like daily, weekly, monthly then reduce down to 240 min, 60 min and 15 min
you then will see a pattern or support and resistance
You also can quantify the numbers by using FIB indicator
Sounds like a lot of work, well it is, but that is the truth of what I do, It takes me a couple of hours to
do the 3 markets and that includes the breakout levels and targets as well
But if you trade one market it not that bad, or you can do the same thing with a stock or ETF
Just hard work is all !!!!!!!!
a stock or whatever you trade and see areas of support
at many different time frames like daily, weekly, monthly then reduce down to 240 min, 60 min and 15 min
you then will see a pattern or support and resistance
You also can quantify the numbers by using FIB indicator
Sounds like a lot of work, well it is, but that is the truth of what I do, It takes me a couple of hours to
do the 3 markets and that includes the breakout levels and targets as well
But if you trade one market it not that bad, or you can do the same thing with a stock or ETF
Just hard work is all !!!!!!!!
Hi Joe!
Last week was very very good for me until Friday lol.
My emotions took control, I could FEEL it, FEAR. I could see myself making my classic mistakes (a sort of out-of-body-experience), all the while dreading the end of the world and .... came out even.
This weekend I took the time to relax and today traded without that panicky feeling, and am back up and out.
Trading scared is not a good idea. I was so upset Thursday night, convinced we'd hit all the circuit breakers... I was trading out of my league but what a cheap lesson.
I have been reading alot and trying to figure out ?what? is going on... people compare it to history and there are similarities- but the global nature of this "unwinding"- is there precedence?
Honestly this is scary. Maybe I've been listening to Roubini a little much, BWAHHAHAHA. Happy Halloween
Aloha
Last week was very very good for me until Friday lol.
My emotions took control, I could FEEL it, FEAR. I could see myself making my classic mistakes (a sort of out-of-body-experience), all the while dreading the end of the world and .... came out even.
This weekend I took the time to relax and today traded without that panicky feeling, and am back up and out.
Trading scared is not a good idea. I was so upset Thursday night, convinced we'd hit all the circuit breakers... I was trading out of my league but what a cheap lesson.
I have been reading alot and trying to figure out ?what? is going on... people compare it to history and there are similarities- but the global nature of this "unwinding"- is there precedence?
Honestly this is scary. Maybe I've been listening to Roubini a little much, BWAHHAHAHA. Happy Halloween
Aloha
Just watch the chart, don't think of it as anything other than
a game.
Did you watch the video on the Money Masters at my blog, A MUST SEE it takes a bit to get thru it but you will SEE everything clearly, actually makes ya giggle a bit on how stupid we all are, I know you busy but if you can get thru it in a week or 2
cause it is like 3 hours long you will have the best understanding of what is truly happening
Take Care,
Joe Baker
Use your emotions as an INDICATOR they will never let you down
you will know when to walk away, cause they will tell you !!
On that note, check this out: http://www.heartmathstore.com/cgi-bin/category.cgi?item=6005Quote from TradePilotPro1:
Use your emotions as an INDICATOR they will never let you down
you will know when to walk away, cause they will tell you !!
Mahalo, couldn't find it at your blogspot but googled it. Haven't seen this one yet.
I'm numb (beyond shock and disgust) to the corruption and am resigned very sadly to the status quo. Why? Because I see a population dumbed down and robbed of rights.
I fear violence and am for the first time in a decade glad I live in Hawaii. And that two of my children are on different continents, safe with grandparents.
Okay I need to go get some exercise before my day job, a welcome distraction from the news.
Aloha
I'm numb (beyond shock and disgust) to the corruption and am resigned very sadly to the status quo. Why? Because I see a population dumbed down and robbed of rights.
I fear violence and am for the first time in a decade glad I live in Hawaii. And that two of my children are on different continents, safe with grandparents.
Okay I need to go get some exercise before my day job, a welcome distraction from the news.
Aloha
What helps me is like Joe said - stick to the numbers or whatever is your "edge". The only "news" I entertain are what is absolutely vital or necessary. All the rest of the info will throw you off.
But I hear ya, where <i>it seems</i> "this time is different". But some of my most reliable sources give me assurances that this is NOT the case. Business as usual!
Like Joe and others say, at some point sellers will exhaust themselves and the pathway of least resistance will again be up. Just be sure you are around and in tact when this happens, lol.
paysense
But I hear ya, where <i>it seems</i> "this time is different". But some of my most reliable sources give me assurances that this is NOT the case. Business as usual!
Like Joe and others say, at some point sellers will exhaust themselves and the pathway of least resistance will again be up. Just be sure you are around and in tact when this happens, lol.
paysense
Works like a charm !!!!!!!!!!!
I always watch the spot yen @JY