The Surf Report

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Quote from LongShot:

oh really you were long from 43.25? hmmm show us that post...
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You're right. I didn't post 43.25. But then I made a couple of posts this morning that clearly said "I'm still waiting for... to go short", when everybody else here was already short ages ago. Usually, when I'm not short, chances are pretty high I'm long. I'm trying to be in the market most of the time, it's called "SCT", if that's any term to you.

Goodonya for your bullish mood, though. You didn't post any trade, either, but I hope you did well. CU tomorrow.

Everybody else - Have a nice one, too! And compliments to both Surf & Chris for their balls of steel! :eek:

Best,
~S

Edit: Just covered ES position MOC @49.50, gross loss -1.25
 
Well this is a plan shot to bits today haha. If this gap doesn't close tommorow it looks like I'll have to wait even longer to take some aggressive overnight positions in this market. Just goes to show how dangerous a few-day base can be, even when things look to be turning against previous trend. My guess is this is noise given holiday week but I'm not betting on it, goodluck to those of you who are.....

I think here we see a major difference in my strategy versus others, I am not looking to pick absolute tops and bottoms, just give me a small chunk of the middle :).

Goodluck,
 
OK, I have had enough.
Would you guys please stop messing up Surf's thread.
Go make your own journal.

I follow Surf and have his journal on email notification. It is a real pain in the butt getting your stuff instead. I want to read what Surf has to say and I have to sift through all your crap during the trading day.

Surf you are the best.
Keep on writing.
:) :)
 
Quote from Scientist:


The reason I said that is because I haven't done longer swing trading for a long time, I.e. focused on scalping for quite a long time, which I can do very well. I realize I have to get used to longer term trades again, since long swings are coming back.
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Scientist.
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then if you use your scalp to finance your swing then you could stay as long as your scalp allow.
 
Quote from nkhoi:

then if you use your scalp to finance your swing then you could stay as long as your scalp allow.
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This is an excellent comment - You are of course dead right here. I still trade multiple fractals, too, which offsets the effect of the larger swings, and so I did today, particularly during the chop, and my day-end result was still decent (scalping net during the base was in fact more than my swings traded for the day), but I won't go into more details here, keep it short.

I think we shouldn't be cluttering up surf's thread anymore. Feel free to PM me if you want to discuss things! :)

Scientist.
 
Surf,

I like the discipline you show in following and sticking to your analysis even though this week has historically been a bulli$h one. Good Luck!
 
Quote from PuffyGums:

Guess it doesn't.
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Puffy, by the time I posted that, there were 2 heavy fib resistance levels right above NQ, and price reacted to it TWICE very violently upon touching that level (~5 pts!), so, given past experience, I assumed price would have to break down soon.

Instead, the worst-case scenario happened, price went to press against those fibs, pulled by ES & DOW, then the pipes burst, and NQ broke through under a lot of pressure, making a huge leap to release that long-contained pressure.

This is pure time-price analysis, essentially "circling" time-price levels via fib, the way Surf "squares" them via gann. It's quite similar.

No, Puffy, it doesn't always work. But it works often enough to make a fine living. I did a screenshot of my 15m charts at the time I posted that, so you can see exactly what I was looking at. Notice the two huge black bars on NQ, closing almost on their lows everytime upon touching the fib levels above, followed by another huge doji, almost a hanging man. If that doesn't look bearish to you - good for you! :)

Scientist.
 

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