For the sceptics in our midst - finally - incontrovertible truth............
http://i.imgur.com/1nT6a.jpg
http://i.imgur.com/1nT6a.jpg
"The only way to trade with Fibonaccis" journal
- Thread starter 1a2b3cppp
- Start date
the only problem with this type of strategy is that when price slowly goes upward after you close out your position (like it's doing now), you just sit there and do nothing.
If I was still holding onto my huge position I'd be raking in the money right now, but I sold it at my predefined point.
So it gets boring waiting for a substantial pullback sometimes.
Guess all the buy and hold people are happy right now, though
If I was still holding onto my huge position I'd be raking in the money right now, but I sold it at my predefined point.
So it gets boring waiting for a substantial pullback sometimes.
Guess all the buy and hold people are happy right now, though
Quote from 1a2b3cppp:
the only problem with this type of strategy is that when price slowly goes upward after you close out your position (like it's doing now), you just sit there and do nothing.
If I was still holding onto my huge position I'd be raking in the money right now, but I sold it at my predefined point.
So it gets boring waiting for a substantial pullback sometimes.
Guess all the buy and hold people are happy right now, though
Why not trade the ES like you were? Did it turn out to not be profitable?
I was profitable. I had some crazy shit happen in my life and I lost my focus for day trading, so I took a break from it. I think I mentioned in this thread but I basically ended a relationship with my fiance and moved to a new city. I was seriously depressed and didn't have the motivation or concentration required to day trade the ES. And to be honest, daytrading was something that I mentally associated with my ex fiance so it was difficult to even have the OEC platform open since it reminded me of that. I'm sure that probably sounds lame, but hopefully it made sense.
In the meantime I got involved with some other (non trading) projects. I plan to get back into day trading the ES once these things wind down.
I kept my long term positions going throughout the entire time. Those don't take much concentration to manage since on a daily chart you have much more time to think than you do on an intraday chart.
I didn't even finish the book that I was putting together for some people in this thread.
As far as trading goes, right now I'm completely flat, having closed out all my positions, just watching the market go up. Wish I still had my large weighted ETF position. Haha. But following rules is more important than trying to load up and hoping you get a big, unending uptrend.
I was just about to bump this thread and I see there are some more replies
Finally there are some down days, I may even enter another trade soon.
If you want to play it with fibs, then the next buy point for SPY would be at 115.04ish (based off of the triple bottom around 104).
Unless you use the little fakey low at like 112.15 or so, in which case the next buy point for SPY would be 117.50 or so.
These aren't actual calls, I'm just saying.
Finally there are some down days, I may even enter another trade soon.
If you want to play it with fibs, then the next buy point for SPY would be at 115.04ish (based off of the triple bottom around 104).
Unless you use the little fakey low at like 112.15 or so, in which case the next buy point for SPY would be 117.50 or so.
These aren't actual calls, I'm just saying.