SP 500 Intraday swing
- Thread starter inves200
- Start date
Jimmy,
First of all, I agree that it would be a better idea for inves2000 to first start developing a good system, and come back later to open a journal.
The day was trending and he missed the whole move. I donât want to ridiculize inves2000 but honesty obliges me to give an objective opinion on his trading. In this case the judgement is not so good for him.
But there are things from you that I donât understand either. You said you kept your short, but never posted an entry. You got out more than 1 hour before the bottom, and you said you should have continued holding the short. A professional never lets anything interfere in his trading. He always follows his system. Why did you get out too soon?
Thanks for dropping by spike5'.
Actually this whole thing just got outta hand, and I'd like to apologize to the moderators, as I think they run a tight ship here, I respect their site, I think it's a great site with a nice amount of really good traders, who trade a number of different "styles".
We just got going and it wouldn't let-up, so there you go. That's that.
In regards to why I exited, I use a basic crossover of the "intermediate timeframe" as my exit signal. I take my first profit at 2 pts, move my stop to breakeven and let the rest ride while monitoring the market. The system gave an exit signal on the intermediate timeframe, so I closed the trade. The system may produce better long term results by looking at the "longer timeframe" in conjunction with monitoring the internals (which obviously stayed in the red), I'm not sure, I'll need to do some research along these lines.
As far as what I said about inves200 being a great fade, well, lets let it rest.
I entered my position @ 11:40am ... like most of the traders (but not all) who are trading and participating in the threads here, my system is proprietary, and it's working pretty well for me, but perhaps I can do some fine tuning.
Thanks for your comments.
Best Regards,
Jimmy