well, we are done with NFI for the timebeing. closed out afterhours taking loss. remaining short YM and long OIL.
see you tuesday!
surf
see you tuesday!
surf
The Surf Report
- Thread starter marketsurfer
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Quote from uptik2000:
Don't try to catch falling knives! UNless you're insane like Brit.
Nothing personal, but that was Trading 101. I just wish I had shares to short on 2/21.
Freight train trading is the best... but only if you have the techniques to be consistent with calling bottoms and tops.
As I said earlier when it was trading at 12... NFI is heading for 5
I am not going to hijack your thread... but you had to have taken a major hit with this position I am guessing.
Dont throw in towel yet when it is just hitting a support zone. 7.57-7.61 is a key level. It ultimately could get a little pop here as there are some other cfs. The best area is at 4.38-5
Good luck with it.
I suggest reentering at those zones with tight stops and try to make back some of the loss knowing there is lots of resistance above the market.
Dont throw in towel yet when it is just hitting a support zone. 7.57-7.61 is a key level. It ultimately could get a little pop here as there are some other cfs. The best area is at 4.38-5
Good luck with it.
I suggest reentering at those zones with tight stops and try to make back some of the loss knowing there is lots of resistance above the market.
thanks for the words. i'll be the first to admit that was a stupid trade based on dubious information source that i believed was keyed in. i was wrong so far and paid the price for taking the risk. as the on of the bands from jackass2 sing--"if your gonna be dumb, you gotta be tough" i am putting this error behind me and moving on. holding YM short and QM long here.
regards, surf
regards, surf
oh yeahhhh! we caught this nice down move in the YM, holding shorts here. holding longs in oil.
regards, surf
regards, surf
I don't follow your journal Surf, but you did announce this trade in the ET Chatroom. Hell'uva trade there surf. Nicely done.
- Spydertrader
thanks, JJ. Its what one has to do to catch tops/bottoms, taking heat is part of that game, not everyone can do--but it can be highly effective.
im not able to post charts here, can you repost the chart today with the avg entry level for our readers. thanks!
im not able to post charts here, can you repost the chart today with the avg entry level for our readers. thanks!
I'll jump in with Jimmy.
This coin flip has worked for you, good trade so far.
12464 is critical Support. Price will still oscillate back up to challenge the 12816 momentum level but it's a guess as to what price level will correspond to it. Just know it wil occur.
This is the FIRST oscillation (bottom being created) that has created an extreme (Prime) Lower Low since mid July. Step one in breaking the Bulls back has begun but it is a three step process.
This coin flip has worked for you, good trade so far.
12464 is critical Support. Price will still oscillate back up to challenge the 12816 momentum level but it's a guess as to what price level will correspond to it. Just know it wil occur.
This is the FIRST oscillation (bottom being created) that has created an extreme (Prime) Lower Low since mid July. Step one in breaking the Bulls back has begun but it is a three step process.
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