Unless you're trading two separate accounts, you can't short until you exit the long.
The Trouble With Scribbles
- Thread starter Buy1Sell2
- Start date
Unless you're trading two separate accounts, you can't short until you exit the long.
Sounds like the calls I would get from a subscription day trading service I subscribed to years ago. End of day he was always ahead.
Sounds like the calls I would get from a subscription day trading service I subscribed to years ago. End of day he was always ahead.
Today's ES thread makes for interesting reading.
Acc to the SLA/AMT, it was down just after reversing at 40.
Today's ES thread makes for interesting reading.
Thank you for reminding us that SLA traders never have losing days. Real traders know that performance will vary from day to day as price action is random. What matters is overall performance.
Actually, price is not random at all, unless all traders everywhere are trading randomly. And while many beginners do so, few if any professionals do.
I don't think price is random at all.
However, I agree that these perfect results aren't realistic for any retail traders. Only when one has the benefit of hindsight to decide how they would have actually played their trade idea
If you were to put a gun to the gurus heads and demand that they call their trades in teh same fashion as those traders in the ESjournal do (place their trade and then state their position and stop as soon as possible after placing their trade), then the gurus results would be no better than any of them traders.
I pointed it out last Thursday. And we've been discussing breakouts from ranges for days. And I posted charts of the pre-market ranges for a month. If no one has as yet learned how to find the pre-open range and if no one has the courage to buy the breakout, or sell a reversal, there's nothing I can do about it.
As for stops, again, there aren't any.
As for the guru thing, it has nothing to do with gurus; it has to do with understanding your market. I've never understood why beginners have no interest in learning how their markets work. Even if their instruments are not mean-reverting (the ES and NQ are), they are all part of an auction market. And those who didn't bother to learn over the weekend how an auction market works most likely missed out on both the upside and the downside today.
Do the work. Learn.
If you can't state for definite what price will do in the next 5 minutes, then it proves that price is more random than not. I didn't say that we can't extract sense from its randomness, I trade patterns myself. But, I couldn't tell you what the performance will be in the future, only the past. That's why I agree with B1 on the notion that once you are right and move with a market it's imperative to try and stay with that move.