Tight Stops
- Thread starter WaveTrader2004
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Here's a bit of trading pli;osphy for you..
Plenty of time in advance if you want to be patient.
The big Wall Street guys managed to get all the black boxes around the wrong way today and now they are set up for the fall if the BIG GUYS can push the market down into the stops,
This therirplan so you have time to prepare for it if it comes.
Who knows but you have to be there if the plan comes off.
I ttrade on price action so I won't be selling untill 1322 comes out again.
You guys can do what you like but then who knows......... what you will do.
)))
BBG
PS: Just thought you may be interested.
Plenty of time in advance if you want to be patient.
The big Wall Street guys managed to get all the black boxes around the wrong way today and now they are set up for the fall if the BIG GUYS can push the market down into the stops,
This therirplan so you have time to prepare for it if it comes.
Who knows but you have to be there if the plan comes off.
I ttrade on price action so I won't be selling untill 1322 comes out again.
You guys can do what you like but then who knows......... what you will do.
)))BBG
PS: Just thought you may be interested.
Sometimes chances come along where you can sell double tops and place a 3 tick stop against tthem.
This is one opportunity and it has a risk cost of $37.50 a contract.
If it works you are a hero if it fails you are a feather duster!
Nevertheless these are situations you need to ttrade for better or worse if you want to be a player in the markets.
You be the judge who is right or wrong.
I know in advance tthat tthe smart money will at least have a go here to reverse the market. If they gget away with it the risk was worth it.
BBG
This is one opportunity and it has a risk cost of $37.50 a contract.
If it works you are a hero if it fails you are a feather duster!
Nevertheless these are situations you need to ttrade for better or worse if you want to be a player in the markets.
You be the judge who is right or wrong.
I know in advance tthat tthe smart money will at least have a go here to reverse the market. If they gget away with it the risk was worth it.
BBG
They didn't get away with it this time so there is no big loss if you played the chance correctly.
The mop flops and we move on to the next one.
So I wonder what that will be just now.
The day is young so who knows - my game plan has no reason to change.
It is just sell resistance/ buy breakouts/ buy support/ sell breakouts
Lots of times other factors come into play that filter what you will do but that is knowledge and I don't intend to divulge my methods in here at all.
It is just intteresting to me to see who is interested and who is not.
))
BBG
The mop flops and we move on to the next one.
So I wonder what that will be just now.
The day is young so who knows - my game plan has no reason to change.
It is just sell resistance/ buy breakouts/ buy support/ sell breakouts
Lots of times other factors come into play that filter what you will do but that is knowledge and I don't intend to divulge my methods in here at all.
It is just intteresting to me to see who is interested and who is not.
))BBG
Now here is another potential set up;
Market breaks out and Maybe breaks back.
So far corrections are running at 1.50 and if they increase the minor degree trend is broken.
So if this market comes back a point (4 ticks) below the breakout level it becomes a sell..
Maybe they will buy the 1:1 RETEST OF THE BREAKOUT BUT WHO KNOWS ONCE AGAIN.
tHE MONEY WILL TALK and all you can do is listen.
BBG
PS: If you can follow your plan all day you will succeed overal.
Market breaks out and Maybe breaks back.
So far corrections are running at 1.50 and if they increase the minor degree trend is broken.
So if this market comes back a point (4 ticks) below the breakout level it becomes a sell..
Maybe they will buy the 1:1 RETEST OF THE BREAKOUT BUT WHO KNOWS ONCE AGAIN.
tHE MONEY WILL TALK and all you can do is listen.
BBG
PS: If you can follow your plan all day you will succeed overal.
You know I like posting to this thread as it has some history, I think I make this my home site in Elite Trader and revive it.
But I am not looking for flamers as I promised Baron I would behave.
So if anyone flames me expect trouble from Baron as I will complain first before I burn you.
))
BBG
But I am not looking for flamers as I promised Baron I would behave.
So if anyone flames me expect trouble from Baron as I will complain first before I burn you.
))BBG
I notice a few people are downloading my charts so there must be a few people around.
I am away from home at the moment and working off my notebook.
Just to show you something I have had programmed to make sure I can keep up with what the other cash indices that influence the S&P - I can pop up instant reports for OEX, MID, SPX & ES in 5, 15, 30, 60 and daily time frames.
Especially useful tool for S&P E-Mini traders.
Thing is whereever the OEX goes the S&P will follow. The big uglies as they have become known in recent times are breaking out at last. Nevertheless they have major technical resistance in the 611-615 area.
BBG
I am away from home at the moment and working off my notebook.
Just to show you something I have had programmed to make sure I can keep up with what the other cash indices that influence the S&P - I can pop up instant reports for OEX, MID, SPX & ES in 5, 15, 30, 60 and daily time frames.
Especially useful tool for S&P E-Mini traders.
Thing is whereever the OEX goes the S&P will follow. The big uglies as they have become known in recent times are breaking out at last. Nevertheless they have major technical resistance in the 611-615 area.
BBG
Here's something you guys might be interested in.
BBG
When the program traders are activated the market has the effect of reversing for a short period of time. If they come in at a double top or a false break top then or a double bottom or a false break low the change may last a lot longer.
BBG
When the program traders are activated the market has the effect of reversing for a short period of time. If they come in at a double top or a false break top then or a double bottom or a false break low the change may last a lot longer.
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