Where would you place your stop?

[dbphoenix]

Right, you did say you could exit and re-enter, true enough. I was going to ask what YOU would do, but hey, that really doesn't matter. Like you also said, its about ones own appetite for risk.

Interesting about RR. I, like alot of people, tend to exit too early. I am managing that by specifying an absolute minimum RR prior to exit. It's not as smart as being able to allow PA to determine my exit, but my real ability to read PA diminishes once I am in a trade. Now if you have a quick answer to that one...

I really don't know what I would do. I don't know what this is, and it's a static chart. If I were watching it in RT, I'd have a better idea what buyers and sellers were doing. For one thing, I'd want to know how long and deep that downtrend on the left was. If it was substantial, a break out of it would be important. Otherwise, trader would simply slide back into it. But, as I said, the max loss would be a couple of pts.

Converting to this after 8 yrs won't be easy. But, if you're interested, you can always look at my journals. There are four, the most recent of which is the Ghost thread. If it looks interesting, then there may be something there that you'll find useful.

Edit: let me give you an example from today. One of our members pointed out the reversal in the NQ at 1130. He did that because he knew what he was looking at, so he knew what to look for. After that, it was just a matter of waiting for price to drop below 3716, which took two hours. Whether one was there or not and whether one took it or not is beside the point. The market was there, holding out this trade, and if one knew what he was looking at, and was there, he was in a position to take it. The behavior is there, regardless.

 

[cipherscribe]

I really don't know what I would do. I don't know what this is, and it's a static chart. If I were watching it in RT, I'd have a better idea what buyers and sellers were doing. For one thing, I'd want to know how long and deep that downtrend on the left was. If it was substantial, a break out of it would be important. Otherwise, trader would simply slide back into it. But, as I said, the max loss would be a couple of pts.

Converting to this after 8 yrs won't be easy. But, if you're interested, you can always look at my journals. There are four, the most recent of which is the Ghost thread. If it looks interesting, then there may be something there that you'll find useful.

Edit: let me give you an example from today. One of our members pointed out the reversal in the NQ at 1130. He did that because he knew what he was looking at, so he knew what to look for. After that, it was just a matter of waiting for price to drop below 3716, which took two hours. Whether one was there or not and whether one took it or not is beside the point. The market was there, holding out this trade, and if one knew what he was looking at, and was there, he was in a position to take it. The behaviour is there, regardless.

I get it. The opportunities are there, it's just a matter of being able to recognise them in real-time for what they are, and the plan to be able to execute under those circumstances. Is the Ghost thread the summary? With 4 threads, where is the best place to start?

My chart is the ES from this Tuesday.

 

[dbphoenix]

I get it. The opportunities are there, it's just a matter of being able to recognise them in real-time for what they are, and the plan to be able to execute under those circumstances. Is the Ghost thread the summary? With 4 threads, where is the best place to start?

My chart is the ES from this Tuesday.

I admire you for being so open-minded. This may require a lot of rewiring.

The suggested posts are at the beginning of the Ghost thread. Assuming you have no interest in reading 4000 posts, the suggested posts number around 40. Trading price, however, may be a shock to your system, so take small bites, chew thoroughly, and digest.

The problem in RT is not so much being able to recognize the opportunities but to get over one's fear of price. If one doesn't understand what price is doing and why, then there is the ever-present fear that the market is preparing a trick. But the market isn't preparing a trick; the market is just doing what it does.

If one doesn't understand buyer/seller behavior, his rules will save him. Eventually he may come to that understanding. But, even if not, at least he'll stop losing.

 

[cipherscribe]

The problem in RT is not so much being able to recognize the opportunities but to get over one's fear of price. If one doesn't understand what price is doing and why, then there is the ever-present fear that the market is preparing a trick. But the market isn't preparing a trick; the market is just doing what it does.

If one doesn't understand buyer/seller behavior, his rules will save him. Eventually he may come to that understanding. But, even if not, at least he'll stop losing.

Very interesting. I shall check out the ghost thread. Thanks for the great input.

Edit: I have been inculcated with the idea that the market will do everything it can to shake you out of your position. It's an unnerving perspective, and one I'd like to divest myself from with the idea that "The market just does what it does". Expecting to be rattled sets me up for apprehension, which is unhelpful.

 

[dbphoenix]

Very interesting. I shall check out the ghost thread. Thanks for the great input.

Edit: I have been inculcated with the idea that the market will do everything it can to shake you out of your position. It's an unnerving perspective, and one I'd like to divest myself from with the idea that "The market just does what it does". Expecting to be rattled sets me up for apprehension, which is unhelpful.

It's a common perception (the market is out to get you), stemming largely from a lack of understanding of what's going on. Since the gurus don't understand it either, they perpetuate it.

But it is possible to put all that behind you. Question is whether or not you think it's worth the effort.

 

[murray t turtle]

Very interesting. I shall check out the ghost thread. Thanks for the great input.

Edit: I have been inculcated with the idea that the market will do everything it can to shake you out of your position. It's an unnerving perspective, and one I'd like to divest myself from with the idea that "The market just does what it does". Expecting to be rattled sets me up for apprehension, which is unhelpful.

==================
It may feel like that but that shows you how reliable feeling are??LOL

I mean really ;as if the ''market'' cares about your position!!LOL

.Of course if you real name is Bunker Hunt [a good name in TX] A pretty good bit of the silver market + exchanges may act to stop a ''corner'', especially if they warned you time + time again.

AS far as stop placement;
try giving us next time much more info, its not really clear what market or time frame op is in????????????????????????????Thanks

 

[Sergio77]

It's a common perception (the market is out to get you), stemming largely from a lack of understanding of what's going on. Since the gurus don't understand it either, they perpetuate it.

But it is possible to put all that behind you. Question is whether or not you think it's worth the effort.

They mean the market makers. Internalization allows the shaking out.