The best are swing trading systems. I have one that has an average trade of 4%. You can leverage up with triple ETF and make 12%!!
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The 2012 Crash
- Thread starter GrandSupercycle
- Start date
Quote from bhardy307:
Poor Beau, gettig close, 2388 in overnight tradig. 2396 is looking all but inevitable.
I see nightly hi of 2384.
Woe is me!
If it hits the stop I'll probably get in a day later anyway.
I don't believe there has ever been 7 up days in a row at the start of a year, but we'll probably hear CNBC talk about that stat and then they'll say something about the years where that happens how much higher the market will be in the next few months without regard to drawdown and omnipresent true curve fitting statistical probability for the sake of televised newsbroadcasting soundbytes.
Time's latest Warren Buffet market call might play a role in this.
That stop's just an estimate, btw, QID has to hit 40.53 before I'm out for sure.
Quote from bwolinsky:
I see nightly hi of 2384.
Woe is me!
If it hits the stop I'll probably get in a day later anyway.
I don't believe there has ever been 7 up days in a row at the start of a year, but we'll probably hear CNBC talk about that stat and then they'll say something about the years where that happens how much higher the market will be in the next few months without regard to drawdown and omnipresent true curve fitting statistical probability for the sake of televised newsbroadcasting soundbytes.
Time's latest Warren Buffet market call might play a role in this.
I got a short on that right now at 2384 and 2379. I think that will correct down tomorrow.
Quote from bhardy307:
I got a short on that right now at 2384 and 2379. I think that will correct down tomorrow.
Market's breaching, which tends to continue, but this is a lower high, so we'll go lower until we've made a higher low.
If you're using a system what was the win percentage on your short NQ trades? Or is that discretionary?
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Quote from bwolinsky:
Market's breaching, which tends to continue, but this is a lower high, so we'll go lower until we've made a higher low.
If you're using a system what was the win percentage on your short NQ trades? Or is that discretionary?
Decision based on resistance. I don't have a certain idea how close to the resistance it will get, so I just got in expecting that it may go against me 15 or 20 before going down again. I see considerable resistance at or around 2400. I have a stop set at 2405, and long order at the same price. Limit set at 2300 ( higher low ).
Win percentage? Still creating my system. I continue to do my small trades just for the experience realizing that I may lose some or all.
Quote from bhardy307:
Decision based on resistance. I don't have a certain idea how close to the resistance it will get, so I just got in expecting that it may go against me 15 or 20 before going down again. I see considerable resistance at or around 2400. I have a stop set at 2405, and long order at the same price. Limit set at 2300 ( higher low ).
Win percentage? Still creating my system. I continue to do my small trades just for the experience realizing that I may lose some or all.
The 2300 level is not likely to hit. Watch for price action. It will go lower but on timed intervals you can watch for lower closes followed by two reversal 5 minute bars.
You can't predict the support level until it's confirmed by Price Action.
A reverse breakeven stop is in effect in addition to our stop.
Quote from bwolinsky:
The 2300 level is not likely to hit. Watch for price action. It will go lower but on timed intervals you can watch for lower closes followed by two reversal 5 minute bars.
You can't predict the support level until it's confirmed by Price Action.
A reverse breakeven stop is in effect in addition to our stop.
Generally, I set these limits and orders so that they are there and ready to go without further effort from me, but yes I do follow price action to make the final decision. Obviously, making decisions based on price actions is still a skill I am developing. Not very good at it yet, but getting better.
I also set these orders, limits, and stops so that I can get some sleep. They may or may not hit while I am asleep.
Thanks for the tips.
Quote from bwolinsky:
The 2300 level is not likely to hit.
I don't agree.
For what its worth, if you believe in these kinds of chart patterns:
1 year, double shoulder and head pattern. This is on the day chart.
1st left shoulder in February 2011.
2nd left shoulder in May.
Head in July
1st right shoulder in November.
2nd right shoulder currently forming.
All reinforcing resistance in the 2400 to 2425 range. This could drop to 2000 or lower if you believe in the value of these chart patterns.
The overextended Wile E. Coyote SP500 wins the battle so stock bears and USDX bulls are back in charge.
http://stockmarket618.files.wordpress.com/2012/01/2012-01-10_dow_wk2.png
http://stockmarket618.files.wordpress.com/2012/01/2012-01-10_dow_wk2.png