It is not possible to say what the market will or won't do. However, a mean-reverting instrument is likely to reverse at the limits of its trend channel as that is what defines a mean-reverting instrument. The NQ and ES have been doing so throughout the seven years of this bull market and have been doing so since they were first made available. If one isn't going to take advantage of that characteristic, there's little point in trading a mean-reverting instrument.
The Trouble With Scribbles
- Thread starter Buy1Sell2
- Start date
It is not possible to say what the market will or won't do. However, a mean-reverting instrument is likely to reverse at the limits of its trend channel as that is what defines a mean-reverting instrument. The NQ and ES have been doing so throughout the seven years of this bull market and have been doing so since they were first made available. If one isn't going to take advantage of that characteristic, there's little point in trading a mean-reverting instrument.
This is incredibly vague, what does "likely" mean? Truth is it can mean anything.
surf
Db, I notice you didn't answer his question.
I'm curious too. Did you trade it yourself?
Edit: Thanks for the post (#641), bmwhendrix. I wasn't aware of it.
Reply to Db's post (#642): Strange that you seems evasive, Db. bmwhendrix has provided the answer that you should have provided. Unless you didn't "actually" trade it?
Actually, I'm beginning to doubt that you trade at all.
You may be very good at price forecasting and analysis, but the fact that you always evade questions on actual trading of your own analysis seems very odd.
Just to clarify, I'm not interested to see your P/L, or trading statements, etc. But following your posts for some time (not all the time though) gives one the impression that you don't really trade at all.. or have stopped trading for some reason.
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Do you guys read the thread or just bored today?
from yesterday:
"Exiting here at my "target". Will now look for ops to reverse or continue."
from yesterday:
"Exiting here at my "target". Will now look for ops to reverse or continue."
If a reversal occurs at a predetermined level and no one trades it, does it make a sound?
Don't be silly, old chap.
I simply asked for a link to where he called the direction and his proof of trade.
He hasn't responded. You aren't helping, but I'm still being polite.
The answer would be "no".
Of course, it would be interesting and useful to discuss plans for Monday's trade, whether reversal or continuation. But that would be ahead of time.
I understand some see this thread as hindsight. Some see it as the path to the holy grail. Truth be told, I really don't care which.
What seriously pisses me off is the crowing about Thursday's opportunity in NQ. Let's be very clear about Thursday. A 20 minute OR was not breached all through RTH, apart from a couple of perfunctory pokes through. On a 5 minute chart it was clearly chop, but our maestros suggested a lower timeframe to capture the opportunity. Think of it, all day it did not move beyond the first 20 minutes, but the snake oil salesmen were selling you a stupid dream.
This is for all the newbies who read this thread, and on this I do agree with Surf, you do deserve to be warned about the disingenuous who would mislead you.
Something is always trending. On that day, a couple of energy and metal futures moved well beyond the OR. Why would you trade chop when you could trade a real move? If you want to be a one trick pony, fine, but many day traders monitor a basket of instruments and trade the most promising. If you really want to be a one trick pony and trade just the NQ, you should be taught to step aside.
How many of you followers of Db made a profit on Thursday? I really don't want to ask for this, because I am too private a person to do so myself, but if you had a good day Thursday, would you consider posting your blotter to prove your trades and profits? If you don't care to, fine, I wouldn't myself,but if you passionately want to prove it worked on Thursday, then why don't you?
If you won't, then just this once, is it too much to expect that Db would post the results of his endeavours trading chop on Thursday? Just Thursday.
What seriously pisses me off is the crowing about Thursday's opportunity in NQ. Let's be very clear about Thursday. A 20 minute OR was not breached all through RTH, apart from a couple of perfunctory pokes through. On a 5 minute chart it was clearly chop, but our maestros suggested a lower timeframe to capture the opportunity. Think of it, all day it did not move beyond the first 20 minutes, but the snake oil salesmen were selling you a stupid dream.
This is for all the newbies who read this thread, and on this I do agree with Surf, you do deserve to be warned about the disingenuous who would mislead you.
Something is always trending. On that day, a couple of energy and metal futures moved well beyond the OR. Why would you trade chop when you could trade a real move? If you want to be a one trick pony, fine, but many day traders monitor a basket of instruments and trade the most promising. If you really want to be a one trick pony and trade just the NQ, you should be taught to step aside.
How many of you followers of Db made a profit on Thursday? I really don't want to ask for this, because I am too private a person to do so myself, but if you had a good day Thursday, would you consider posting your blotter to prove your trades and profits? If you don't care to, fine, I wouldn't myself,but if you passionately want to prove it worked on Thursday, then why don't you?
If you won't, then just this once, is it too much to expect that Db would post the results of his endeavours trading chop on Thursday? Just Thursday.
I entered at more or less the same level Eddie did on Friday (what does Thursday have to do with it?). Did you not read any of that? View his chart?
As for whether or not any of "Db's Followers" made a profit on Friday, or Thursday, or any other day, so what? None of that puts any money in your pocket. If you missed the trade, it's because you didn't plan for it, assuming you weren't in a coma.
What matters more is tomorrow evening. Price is between two medians (see the chart). Where are you going to enter a reversal? Where are you doing to enter a continutation? If you're already short, where are you going to exit? If you don't know the answers to any of those questions, you have over twelve hours to figure them out.