The Day Trading Thread

padutrader said:
....i do not think that you have any right to tell me how many posts i should make.


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The OP has me on complete block, and has for a couple years now. He sees none of my posts, and I see none of his.

I *think* what folks here are on about is that you seem to be spamming Mark's journal with posts?

"this is the place to make your opinions known"

Mmm well it is, but this thread is not, per se. The forum in general is the place, but not Mark's journal.
 
NQurious said:
Look, you are doing well in your own journal. You have people's attention. Why blow it by continually $hitting in everyone else's threads and clogging up the works? You are not a young man but the way you carry on!
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thanks that is really a nice post i have learnt a lot from you guys


all i want to do is to encourage traders and say it is possible to trade well....

but i am misunderstood...even in real life ....

once i told my friend during a golf round...'sorry i have a bad throat..so i cannot talk' the answer i got from him was like the your post, very educating, he said " GOOD"
so ok i will stop lecturing
 
padutrader said:
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all i want to do is to encourage traders and say it is possible to trade well....
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Good grief man, I already started that sort of thing because I believe in it very dearly. Two years ago or something. You've been here less than 2 months?

Come with substance and establish yourself first. Make your worth KNOWN! Or...

 
@SimpleMeLike. As you reflect on the triangle and my previous comments I thought it good to mention a few more things. A symmetrical triangle has a 50% chance of breaking out in either direction. However, context can skew that somewhat. In this case it did. The triangle apex is at the top of a bear channel in this context. So odds favor a BO south.

Now understand, once a BO does occur from a symmetrical triangle there is a 50% chance that the BO will fail and price will trade back up towards the triangle apex. So factor that into the bear channel. Most BO of channels upside or downside fail within 5 bars. About a 75% chance. So....in this case 50% chance the BO south of the apex will fail.. coupled with the BO of bottom of the channel failing within 5 bars ..75% give a good logical reason to expect the BO of the apex to reverse back up towards the apex hence covering the short in lower third of the channel and then reversing long to subsequently exit in middle third or upper third as price goes back up to the apex makes alot of sense and is likely to happen.

Hope this helps.

This what what I would expect from this case on your chart. Of course, the unexpected can happen too. So, if the least expected senario happens...say price breaks south from apex then breaks south out of channel and continues then obviously I would hold onto my short from the apex BO for greater gain. And if the least likely senario happened..that is, there is a BO north from the apex that continues then I would treat this symmetrical triangle as a reversal from the bear channel, if after 5 or so bars, price is staying above the channel. In such a case I would look to go long onna higher low..DB..or MTR setup on a test of the apex of the triangle. I do not know what actually happened as you don’t show enough price action in your chart that came later in the day.

7873AEF4-4BD8-4CEB-9CBC-4D5615688A39.jpeg
 
Padu, I take it back. I just noticed this is not in the journal section, so this really is not a journal. I guess. But because I can't see Mark's posts, I do not know the context. Alas. So this is just a thread in the index future section. :-|
 
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I may have inadvertently hijacked the thread with my lovely hand annotated charts that speak to some traders and probably get laughed at by others but then I noticed it is a thread on daytrading the indexes which is what I do so maybe I am ok?? LOL
 
volpri said:
I may have inadvertently hijacked the thread with my lovely hand annotated charts that speak to some traders and probably get laughed at by others but then I noticed it is a thread on daytrading the indexes which is what I do so maybe I am ok?? LOL
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My comment was to Padu. Yes, your charts are lovely. I love your pastels.
 
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