S&P Futures Opens Down 20 Points!

schizo · Jan 30, 2020

padutrader said:
the biggest problem is that we are looking for secrets on how to trade.

that is why names like Brooks comes up.

if you observe the markets and see what is happening and what the majority of traders are doing, which is reflected in market movements, then you will be in synch with the market.

Rather than search for secrets look for information -common information-in price action something which all traders are privy to.

that is what Brooks taught me and that is the secret of all good traders.

searching for secrets which no one else knows, means you will be trading a direction which is in opposition of what the market is doing.....so you will be killed

Haven't you seen my latest trade yet? It's LONG. I do go both long and short.

schizo said:
Long 51.25

SL 48.50
PT 64.25

schizo · Jan 30, 2020

padutrader said:
the biggest problem is that we are looking for secrets on how to trade.

searching for secrets which no one else knows, means you will be trading a direction which is in opposition of what the market is doing.....so you will be killed

What are you exactly talking about? Shorting the market, which you don't agree with, is considered a "secret"?

Do you then consider making money by shorting the market when the opportunity shows itself as foolish, while staying with your long position while the market is tanking as wise?

padutrader · Jan 30, 2020

schizo said:
Haven't you seen my latest trade yet? It's LONG. I do go both long and short.

of course you are no fool

I was not talking about you

padutrader · Jan 30, 2020

schizo said:
What are you exactly talking about? Shorting the market, which you don't agree with, is considered a "secret"?

Do you then consider making money by shorting the market when the opportunity shows itself as foolish, while staying with your long position while the market is tanking as wise?

I was not talking about you.

traders look for 'secrets'

brooks is always talking about what the other traders are or would be doing.
that is one thing I learnt...…from him.

also get a feel of what the market is doing-is it bullish or bearish action- rather than concentrating on pivots ema resistance and support...…..

schizo · Jan 30, 2020

padutrader said:
I was not talking about you.

traders look for 'secrets'

No worries, I didn't take it personally. But my question still stands. Why would you not go short, or at the very least, get out of your long position when the market drops?

nooby_mcnoob · Jan 30, 2020

This is a good thread.

IMO, C&H-type pattern forming. Sideways action for rest of the week barring some Trumpian amazing news. Next week is a new week.

schizo · Jan 30, 2020

nooby_mcnoob said:
IMO, C&H-type pattern forming

Damn girl, you still follow that crap?

C&H is for sissies. Yeah, tell that to them IBD folks.

nooby_mcnoob · Jan 30, 2020

schizo said:
Damn girl, you still follow that crap? C&H is for sissies. Yeah, tell that to them IBD folks.

No, just saying that is the pattern that appears to be forming. Not saying it's predictive.

_eug_ · Jan 30, 2020

Can also say we just formed an upside down C&H on 4 H....

padutrader · Jan 30, 2020

schizo said:
No worries, I didn't take it personally. But my question still stands. Why would you not go short, or at the very least, get out of your long position when the market drops?

oh I would
but a long term investor may not. i have a friend who is invested in Dow from 8000 points and holding still
I was just discussing charts theoretically..
and on large time frame.....