Scared trading...

fair enough. i just didnt want to throw a thread off track, but ill copy and paste my PM I was sending.

I know you have only posted a few times but I can tell you know what you are doing. Since I started to to trade(1.5yrs ago) I have focused on s/r but I cant seem to quite develop the system to stay profitable and understand it at a level of guys like you. I have cursed indicators from the start and I believe I have become pretty good at spotting good s/r but I'm not sure of that intuitive sense at these levels. Do you have any suggestions in how to time and play solid s/r levels? I try to use the daily levels on the ES and then use 1hr charts to attempt to monitor. Other than that I have a swing system with stocks that has worked out very well and is also based on s/r. Any help or advice is greatly appreciated.
 
could be, but i suspect they have a lot more to do with overlapping time frames. just a guess

Quote from focusonmoney:

38 s and r levels? I might be wrong but that sound like you trade trend lines.. I don't consider those support and resistance...
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Mr. Money, despite my deep and reluctant admiration for our own Mr. Hershey, I do not trade trend lines. I don't even draw them. And even when they clearly work, which they randomly do, I discount it as a temptation from the Devil to deviate from my stout faith.
 
Quote from xburbx:

fair enough. i just didnt want to throw a thread off track, but ill copy and paste my PM I was sending.

I know you have only posted a few times but I can tell you know what you are doing. Since I started to to trade(1.5yrs ago) I have focused on s/r but I cant seem to quite develop the system to stay profitable and understand it at a level of guys like you. I have cursed indicators from the start and I believe I have become pretty good at spotting good s/r but I'm not sure of that intuitive sense at these levels. Do you have any suggestions in how to time and play solid s/r levels? I try to use the daily levels on the ES and then use 1hr charts to attempt to monitor. Other than that I have a swing system with stocks that has worked out very well and is also based on s/r. Any help or advice is greatly appreciated.
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Mr. XBurbx, beware. Many people here are adept at appearing to know what they are doing. They believe fervently in the '60's advice to "fake it 'til you make it." I advise you to stick to your swing system and just play at intraday trading. I have an investment system that has worked well recently, everyone being a genius in an uptrend, and I determinedly only play intraday. I drink, jive with lady friends, and go shooting whenever I find myself getting too giddy, an hour at the range among pure madmen armed with every imaginable calibre doing wonders to sober one up. I can only pray that they are not as drunk as I am. Just today the maniac next to me was blasting away rapid fire with a .44 magnum at a silhouette target he could reach out and touch. Some anger issues there, methinks. I kept one eye on him and one on my own anger issues. Those caveats aside, what are you watching that you think might offer S or R intraday in ES? Pray do not be embarrassed to list hoary TA workhorses older than Mr. Hershey. Some of those work just because nobody believes in them any more. Also, be advised that we two now clearly are in the camp of the conventional wisdom, and stand by for incoming.
 
.40 cal for me. shot a 50 cal handgun at our local range. thats a show stopper. not easy to find big guns in philadelphia. i do intend on stick with my swing trades but im really curious if you have any intraday suggestions. how long have you been at it?
 
I'm a .357 magnum guy myself, although I own far too many mouseguns of dubious utility. But at least you can carry one wearing shorts and a tee. I have been at this so long that I should be good at it by now, over ten years, proof positive that practice does not always make perfect. Can't go wrong looking at yesterday's high, low, midpoint and pivot. Sooooooo complicated. Can't be that easy. Your turn.

P.S.: if you like shooting that much, you should move down South. We be handgun friendly here. Concealed carry is relatively easy to get, and most Red states have reciprocal carry privileges.
 
Quote from peilthetraveler:

Remind me...whats the difference between a scared trade and a preservation of capital trade?
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After the "scared" exit, the price moved in a way that would have made you money. After the "preservation" exit, it moved against you ;)
 
funny you say that. i live in jersey now but had a very short residence in pennsylvania where in one day i changed residence, changed my license, purchased my gun, got the license to conceal. have to love that. jersey is WAY harder to deal with. 3 month background check and all sorts of bs laws. i cross the border to have my fun at the range. 357 is a lot of gun. as far as s/r lines i attempt to play on the ES, i am looking for lines that in the recent past that have constantly shown stopping power more often than not. kind of becomes an eyeball process. i know some people play those pin bar bottoms and tops, but i tend not to unless there are lots of other tops / bottoms supporting it's case. on the ES the no brainer was the 1111. I felt some intuition today when i waited on this approach up and thought a probe was coming. so far, it seems to be , but who knows. i use a tight stop of 2-3 pts. there is a poster around here named cgbcirl that has helped me a ton with that. the foundation of my swing system is based on what he gave me some insight to.
 
Quote from xburbx:

funny you say that. i live in jersey now but had a very short residence in pennsylvania where in one day i changed residence, changed my license, purchased my gun, got the license to conceal. have to love that. jersey is WAY harder to deal with. 3 month background check and all sorts of bs laws. i cross the border to have my fun at the range. 357 is a lot of gun. as far as s/r lines i attempt to play on the ES, i am looking for lines that in the recent past that have constantly shown stopping power more often than not. kind of becomes an eyeball process. i know some people play those pin bar bottoms and tops, but i tend not to unless there are lots of other tops / bottoms supporting it's case. on the ES the no brainer was the 1111. I felt some intuition today when i waited on this approach up and thought a probe was coming. so far, it seems to be , but who knows. i use a tight stop of 2-3 pts. there is a poster around here named cgbcirl that has helped me a ton with that. the foundation of my swing system is based on what he gave me some insight to.
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You sure you are swing trading? Just asking because you are using 3 point stops.. How long are you holding your trades..?
 
sorry i wasnt very clear. i have a swing strat with stocks that i hold for several days up to 2 weeks. the intraday stuff i am asking fleming about are just for the ES. i guess i should have been more clear. The ES is not swing for me
 
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