step away from the "chop!"...

[howardy2k]

how much was he short?

 

[TGregg]

Quote from trader99:

Remind me NOT to trade the chop tomorrow?!!

Hmmmm, mebbe all this whining is a sure sign that tomorrow is a solid all-day trend.

 

[jack hershey]

Quote from links:



I trade using 5 & 15 minute bar charts, keeping positions 1-3 days.

lol ... gotcha..

Sorry I just couldn't resist.

For me I have found the the commodities algorithms have limitations. That is they only work within certain capital applications. You either modify the algotithm to change gears or you just float along at a limited money velocity.

What I did was pull capital out of the accounts. And keep myself Kosher under NFA 2-8 (E) part a).

It goes to equity accounts and I guess I could say I trade there. And have POA arrangements for people who can use the time that can be freed up with an income stream. The issue of investing comes up for me but I guess I prefer the the orientation I developed in 1957 -60. My baggage then was having gotten through college without taking out more than a final 1/2 year loan to help out when I unexpectedly went to grad school.

I don't know why but I called it the "natural cycle" and I just, from an inital EOD orientation, optimized it.

So actually I am doing what you suggest. I don't call what I do by any name and I just spent forty or fifty years perfecting it.

I determined to be an amateur from year three onward although I was under pressure by then to go pro vis a vis institutional investing NYC cause I lived in Greewich by then.

You never know what will come along, but I haven't seen anything new since I started, figuratively speaking. The broader spectrum of participants has changed the nature of stuff a little and having 5% of families millionaires is nice.

I track about a dozen trading systems and I look into them from a tweeking viepoint. It's a good exercise.

Looks like I'm not welcome here at this point. There was a glimmer right off so I should have been more aware of the troops.

 

[wally_]

Quote from wally_:


The system I trade first lost 0.5 pt then made 1 pt (being ahead 5 pts) and now is short @863.0, let's hope we are going lower now.

Well, it was not the kind of low that I was hoping for. It was, in fact, a wrong kind of low, an inverted low. The inverted low happens when the third harmonic of volume gets out of sync with the fourth harmonic of price. Or something. Which is exactly what happened.

 

[mike s]

Just to be clear, I'm not asking how many contracts etc.

I'm asking how many trades, in and out, you might do on a day like this.

In trying to understand what you're explaining I'm trying to get a feel for how often you are in and out of the market throughout this process.
--------------------------------------------------------------------------------
Quote from jack hershey:




I am slaloming from this point on with the BO above the 10:00 5min bar. Slaloming is playing the whiplash that is hitting those opposite me on trades.


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I'm curious Jack, if you don't mind. On a day such as this, trading off the 5 minute chart, how many round-turns will you do on average?

Thanks,
Mike

 

[bobcathy1]

Quote from omcate:



IMHO:

Fear, greed, ego and hindsight are traders' worst enemies. Are you going to pop in TV dinners again ?

yup...tv dinners....looks like I may have some serious trading to do tonight....no time to kiss up for a little nookie:eek:

 

[bobcathy1]

Quote from trader99:



Drinks on me man. Misery loves companionship.

I

Great...meet us down at Dockside Bar in Boot Key......best place in the world to get really drunk, if I am going to trade all night, might as well do it nice and relaxed

 

[prox]

Quote from TGregg:



Hmmmm, mebbe all this whining is a sure sign that tomorrow is a solid all-day trend.

sounds about right..

 

[omcate]

Quote from bobcathy1:



yup...tv dinners....looks like I may have some serious trading to do tonight....no time to kiss up for a little nookie:eek:

No. You should take nitro's advice. You mentioned in another thread that after some Serious EXercises, you only have energy to pop in TV dinners.

 

[alfonso]

Quote from trader99:

is this a choppy day or what?!!!

i should have taken my small profits rather than wait for a bigger trend. So I got in, small profit. Didn't take it. Stopped out. Got back in , small profit. Didn't take it. Stopped out. Over and over again.

I guess on days like this small profits are OK.

about to pull my hair. But I think I'll just stop for the day rather than get chopped to death.


trader99

Trader99,

Perhaps you need to

a) be aware that there is such an aspect to stock price movement called "noise"

and

b) realize that attempting to trade through this "noise" is, for all I can see, an exercise in futility.

If you would willing to step back a little and trade the larger intraday moves I am sure you will come to think quite differently about days like today.

The two best reasons for doing so:

1) You can place your stops where being stopped out will actually be MEANINGFUL (it becomes quite unlikely that you will stop out on a random "noise" move)

2) You can actually have a GOOD REASON to hold a winning position through a pull back -- rather than just hoping blindly that it will keep going your way, or arbitrarily cutting winners short simply because they happened to move your way and now you're scared you will lose them (understandbly so, if you're trading amidst the noise).