Trend Day Tuesday
- Thread starter Brandonf
- Start date
There is no doubt that yesterday was a narrow range day. A cursory look at the daily chart tells you that. One can gain confidence from looking at the chart without doing detailed studies of positive expectancy and see narrow range days precede wider range days, many of which are nice long trend days.
For the "but what about the whipsaw" crowd, there are two answers. First, because of the narrow range of the narrow range day, the risk using something as simple as 'exit or reverse if the opposite extreme is broken' is acceptable. And second, you just don't see that many outside days.
Hey, anyone with Tradestation or some screener..... how about a report that simply gives the number of outside bars for a time frame. Because the same is true for any time frame, the number of outside days is small. Use the Dow as an example.
For the "but what about the whipsaw" crowd, there are two answers. First, because of the narrow range of the narrow range day, the risk using something as simple as 'exit or reverse if the opposite extreme is broken' is acceptable. And second, you just don't see that many outside days.
Hey, anyone with Tradestation or some screener..... how about a report that simply gives the number of outside bars for a time frame. Because the same is true for any time frame, the number of outside days is small. Use the Dow as an example.
The crap my account went through yesterday was more than made up for by the move we just had... the wonderful thing about this trading game is that ya just don't know what to expect
No, but I sold the NQ right then on a pullback trade, didn't even now about the numbers. Was a bit suprised when the price immdediatly plummeted.
A quick 15 points is always nice.