The Winning Edge 2

Status
Not open for further replies.
Quote from Cluseau:

I'm glad everyone made up. lol

We get a nice header in the spooz and everyone's sitting on glass shards. After the booking, we play nice again.:D

Anyway, RC, can you please elaborate on your stop structure and setup for stops in general. I'm eager to know what made you change from 4 pt to 7 pt stop. Thanks.
More...


Damn...I wanna now hang myself for being mean to this RC guy....LOL.....such a nice fellow


In all honesty , he is a nice guy...but his trading methods (In my opinion) are nuts.....


as far as the sp's....every time one of the fed guys speaks, gets worse and worse....now ya got crude down and sp's still getting hammered..ugly...probably best time to buy is when these guys finally shut their traps
 
WHAT'S TODAY'S TRADE?

I sold at 1207.00 at 12:02
with at 7 point stop!!!

YES BABY!

You want make MONEY? YOU follow me...

I take you to promise land!!!!

:D
 
For this specific trade I was seeing a bounce off a bottom so the tight stop was to make sure it was a true bounce. I actually got in at 1210 but by the time I went to type this it was at 1210.50 and then I closed at 1211. That is why I cannot see how anyone can do this scalping and post in real-time lol.

I still see the short-term uptrend off the low so in that scenario I like to keep the stop tight because then if the stop is hit I know I was not correct in the timing and I get out quickly and wait for a better entry.

In this case the short-term support still held and I got out looking for another entry. We are right back support at 1210.75 so could go long again if I see us bounce.

phil


Quote from protrader-2K5:

optioncoach...

now lets do that some 10 to 20 times a day!

should you not also have 10 point stop? I would allow you to be right more often.

:D
More...
 
Out at 1213....there is certainly more upside but bird in the hand and all that...

Phil

Quote from optioncoach:

Went back in at 1211.25......let's see if it holds...

Phil
More...
 
Another entry at 1211.50? Hmmm watching this one closely....no entry yet, need CONFIRMATION before opening trade so proceed with caution...

EDIT: 2:19 PM. Broke through support and on bounce back the support now became resistance. Looking bearish now with ES at 1212.75 but if it runs back to that resistance/prev support level and breaks through, LONG BABY! If not, either short or stay out, very choppy right now.
 
Many are asking about the stop and wondering why it is so big. The answer is because in pure system development bigger stops are more advantageous. Bigger, of course, being relative.
 
Status
Not open for further replies.
Back
Top