That is correct, that is why I look for pullbacks (reversal points) in the future. Worst thing can happen is that reversal point will not be confirmed and I go for the next one. But price level at that forecasted point is always tradeable. See qqqq at 9:55 est . You could have made couple of nickels in either direction .
Why Can't I Trade with the Trend
- Thread starter Flashboy
- Start date
That is correct, that is why I look for pullbacks (reversal points) in the future. Worst thing can happen is that reversal point will not be confirmed and I go for the next one. But price level at that forecasted point is always tradeable. See qqqq at 9:55 est . You could have made couple of nickels in either direction .
Quote from easyrider:
Yeah. Theres been a few others, Marketsurfer comes to mindI have no problem with somebody not making live calls UNLESS he/she is trying to prove something like a system. It has to work in real time with real trades or it aint real.
Yep. I got no real problem with someone coming on here trying to "Guru" as long as the person will dispense with the mumbo jumbo and show some trades; BEFORE they occur.
I think many "Gurus" are afraid to show some examples because they fear that they will pick one that will not go in the correct direction. Then they risk getting blasted here. The people who really count realize that there are MANY trades that don't pan out.
And I'll even add this. There is, IMO, much validity to what Prof is trying to say concerning "trend". However, if he is going to present himself as a teacher/guru (which, IMO, is exactly what he is doing), then it is incumbent upon him to "put some cards face up on the table"!
The up or down slope of price on a chart is an effect that does not describe its cause. That is why you can't predict if the cause of an existing "trend" will continue in the future just by looking at effects on the chart.
Once a reversal has been established, its chart doesn't reveal how far the new "trend" will continue.
The short off the Failure of 1209.75 @ 1209.50 or 1209.25 was nice even in this ugly consolidation. It stopped short of breaching 1202.50 @ 1203.75 but was still a decent short. The bottom @ 1203.75 confirmed further short term consolidation between 1209.75 & 1203.75. A 6 point range is not much fun but it is nice when you can recognize it quickly as consolidation.
My reason for being here is to help. At the time I am doing a number of things at once. If what I said wasn't clear enough, sorry. I use the same "speak" in class and just used to using it.
The ES is consolidating today on a potential bottom. Bottoms or tops don't concern me until they confirm then they give me foundations to trade from. I will tell you what to look for and when it occurs, make your own trading decisions.
Quote from easyrider:
Thanks but we trade different time frames. This "trendless" day has produced four trades for me, 1 loser, 2 winners and the fourth is still working in my favor so while your sitting on your butt waiting for perfection I am putting money in the bank.
Wow, like I now must cater to you by picking your trades. I made two trades from that top I called when you asked earlier and both were profitable. Considering the consolidation today, it is all I want. If I see another conservative entry I'll take it, if not I won't. I only take conservative trades, being aggressive is foolhearty. If you know the direction price is going, why counter-trend trade. Wait for a repeat performance and buy a ticket.