WHAT IS A SECOND ENTRY ?

Laissez Faire said:
That's surprising to me.

I took me a while to realize that most people don't know shit about trading - and that includes most gurus and the vast majority of posters on ET. The few ones that know something worthwhile tend to keep their lips shut and don't make much noise. So, ever since I learned that, I've just focused on studying the market and doing research instead.

As for becoming a guru, I've considered if that would be an easier path to riches. Write up my own method and sell it for risk free money.

But, since I think I'm a pretty fantastic trader, I'll see if I can monetize it myself first instead. :)

Today, I have my eyes set on 4420. I'm prepared to take a few stabs to get it or reverse short if I'm wrong. Small stops. Big targets. Add to a winner, i.e., scale in a few units if we start moving above 4400.

image.png
More...
i do not think i have ever put a 1.5 point stop in my life i would be sure it would get triggered.

amazing. maybe you should be a guru

i think it being a range day it may well come back to the low range or channel.

maybe around 4387-82
 
Last edited:
padutrader said:
i do not think i have ever put a 1.5 point stop in my life i would be sure it would get triggered.

amazing. maybe you should be a guru

i think it being a range day it may well come back to the low range or channel.

maybe around 4387-82
More...

We'll see. The key is to contain losses and have your smallest size on when you're wrong.

Initial stop was 5 points. I only tightened it up after the market moved in my favor. I would also get frequent stop outs on a 1.5 point stop.
 
Laissez Faire said:
We'll see. The key is to contain losses and have your smallest size on when you're wrong.

Initial stop was 5 points. I only tightened it up after the market moved in my favor. I would also get frequent stop outs on a 1.5 point stop.
More...
you only have to be consistent with what you do
 
Added one unit at 4400 as price moved in my favor. Powell can easily tank the market today, so don't think I'll get any bigger than this. Moving stop to B/E if we get a second push above 4401 or so.

image.png
 
Laissez Faire said:
I don't really know. I'm just speculating... :)

Moved stop to 94.25. A bit too close to the action.
More...
it may still revert to being a trading range day so low of day may be threatened....it is early in the day and the market often head fakes.
no clue really but just try to ready price action
 
You must log in or register to reply here.
Back
Top