Volente's Bar and Grill

[Laissez Faire]

Quote from PushPull:

You are the best trader in Lapland, and used to be the best trader in Scandinavia. I'm sure you are qualified to tell me where the best price action entries and stops are. You can do several trials if you are a low risk trader. No?.

http://www.youtube.com/watch?v=JRfHmi4oyGM&feature=related

Absolutely, but don`t forget that multiple stop-outs even with low risk is the equivalent to bleeding to death by a thousand paper cuts.

Oh, and don`t forget this...

Quote from eudaemon:

There are very few sucker moves that suck more than shorting an uptrend day. One of them is buying a downtrend day.

 

[PushPull]

Thanks LF. That eudaemon guy was onto something. Maybe he is waiting for ammo to puke on his shorts. Eudaemon used to be a cruel bastard, for sure.

I believe this is not an uptrend day, but a sucker short covering rally day.

 

[volente_00]

Quote from PushPull:

Thanks LF. That eudaemon guy was onto something. Maybe he is waiting for ammo to puke on his shorts. Eudaemon used to be a cruel bastard, for sure.

I believe this is not an uptrend day, but a sucker short covering rally day.

hell looks like a tday except my account is red

 

[PushPull]

Quote from volente_00:

hell looks like a tday except my account is red

DEMTDAYBOYZR$

 

[volente_00]

added 63.75





stop 71



target is 49

 

[Laissez Faire]

Hey Volente,

See what I wrote in the ES journal.

I burned myself badly too many times trying to short a day like this.

Drifting slowly up into the gap which is just above your stop is my bet.

Why not enter a short after the gap is filled?

Of course, I may be completely wrong and 63 is a potential reversal zone, it just looks like one of these slow days that keeps drifting upwards.

Sincerely,

LF

 

[Laissez Faire]

Quote from PushPull:

I believe this is not an uptrend day, but a sucker short covering rally day.

Whether shorts are covering or new longs are entering, your P&L will look just as red if you keep picking a top today before a confirmed reversal is in place.

Did eudaemon tell you about that?

Tell him I said hello.

 

[volente_00]

added 62.75


will not hold this past the close to avoid margin requirment

 

[Hooti]

on my 10 min chart starting 10 hrs ago,

it looks like a curved dagger... handle and everything

I got a bit of a stab and blooded too!

 

[PushPull]

Quote from Laissez Faire:

Whether shorts are covering or new longs are entering, your P&L will look just as red if you keep picking a top today before a confirmed reversal is in place.

Did eudaemon tell you about that?

Tell him I said hello.

I guess it comes down to tactical entries, stops, and exits and leverage then?. mmmm.

I'll probably see him this weekend at the strip club. I'll pass on the message, but I'm pretty sure he still reads this. Funny guy.