spike

So you miss the run up in S&P to 830. But you could have got a clear sell signal there for the following reasons.

* TICK spikes above 1200
*Dow hits 10 day EMA
*SOX hits 20 day EMA
*ES hits 2resistance of 831 based on the pivot formula
*NQ hits TP 2nd upper stop

It had no other way to go but reverse when all these things happened at the same time.

Each day you need to wait for the "stars to align" and then enter and you'll be surprised at how much you can get out of trades.
 
Quote from dbphoenix:



Who missed the run up to 830?

--Db
More...

Whoever did(me) I just pointed out the signals for it reversing which I did not miss and why.
 
Ah, that's true. It's easy to think that you've missed out when you don't participate in a move, and it's tempting to jump on even though you've vowed not to chase price. But if you know where to enter a reversal, you can relax, take your time, plan your move, then just wait for it. And while I don't use your particular signals, the result is the same.

This sort of tactic is not a bad idea on days like today, where everybody is just waiting around for news.

--Db
 
lets say you go short around the highs

I did and still lost money today as I covered too soon

and then went too long early ...

too my loss

went long again near the lows but covered too early again

so instead of making a nice sum I take a hit

I guess its discipline ... which I am lacking at times

as I do not have a systematic approach to trading but trade based on my knowledge gained from yrs of doing this
yes .. I am still learning ...
:eek:
 
When the tick is above 1200

That isn't an entry signal. That's a sign we are at an extreme.

When it hits 1300

We are even more extreme.
 
Quote from SethArb:

how do you know when to cover
More...

First you have to decide whether you want to be a scalper or a trend-trader. The "when" will be completely different for each.

--Db
 
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