tampa's "short skirt" trades...

[tampa]

At this point (10:15) the hourly trend remains down, the fifteen-minute is flat, and the five-minute is all over the place. So taking any "short skirt" set ups would be just guessing.

I ain't good enough at guessing...so I'll wait for better signals...(sigh)

 

[Atlantic]

Originally posted by tampa


Good point...

But all you have to do is take all but the last one...what could be easier

don't get me wrong - i love short skirts (oh yeah ...).

 

[tampa]

You could stretch s point and say that there is a set up on the one-minute chart @ 815 (10:31)
- but the higher time frames are not really cooperating.

Today is one of those “I feel antsy, I want some action” days. But...

(and a good thing – it would have lost 3 points)

 

[hardcash]

Originally posted by gerry875
the "problem" with the short skirts is that one has to (or should) enter BEFORE the trend eventually picks up again. so there is a clear predicting-element in this concept.

on the other hand there is the old saying that a trader should not predict but only react to the market. two totally different philosophies.

i couldn't trade in the predicting mode - although you should get more out of every winning trade - while the one who reacts (enters on the breakout) always leaves some pts. on the table.

so obviously there has to be at least one failing short skirt setup in every trend - the last one - so if one takes always only the last one - he will only get losers.

thats right. there is another enter method presented by linda raschke, it is operating with a 6 P-SMA, its called the "SMA enter trick". in an uptrend, when price pulls back, you put a buy stop order at the level of the low of the first bar, hat close under the SMA. when the price move towards the low of the pullback, you have you resting order in the market for the possible pick up and you get stoped in.

buy or sell stop orders are not bad at all, if you are a little bit gun shy by nature or are to busy working to watch every tick.

trading

 

[Atlantic]

Originally posted by tampa
You could stretch s point and say that there is a set up on the one-minute chart @ 815 (10:31)
- but the higher time frames are not really cooperating.

Today is one of those “I feel antsy, I want some action” days. But...

(and a good thing – it would have lost 3 points)

this happened just after test of previous days swing low - hence rather low probability of further going down.

it's easy to say this NOW ...

 

[tampa]

I’m beginning to feel an early afternoon nap coming on – a virtual guarantee of a lunchtime move.

But the slop and chop is getting to me...

At this point (10:50) the NQ seems to hold some promise...

 

[Atlantic]

1044 - classic bull flag!

 

[tampa]

Originally posted by hardcash


thats right. there is another enter method presented by linda raschke, it is operating with a 6 P-SMA, its called the "SMA enter trick". in an uptrend, when price pulls back, you put a buy stop order at the level of the low of the first bar, hat close under the SMA. when the price move towards the low of the pullback, you have you resting order in the market for the possible pick up and you get stoped in.

buy or sell stop orders are not bad at all, if you are a little bit gun shy by nature or are to busy working to watch every tick.

trading

I am aware of the technique, but have never really looked at it. Have you had success trading it?

 

[hardcash]

Originally posted by tampa


I am aware of the technique, but have never really looked at it. Have you had success trading it?

i tested it on the NQ some time ago and it worked ok. but at that time i droppd it , bacuase i was trying to get into a scalp method...i came back to it again by now, mostly because i like the idea of entering via a buy/sell stop order...this kind of predetermined entry can be helpful just to make sure that you take every trade, your method is setting up...

 

[tampa]

Originally posted by hardcash


...this kind of predetermined entry can be helpful just to make sure that you take every trade, your method is setting up...

...I understand that kind of thinking

That's what this thing is all about.

But that nap things the best option right now...