Now that's funny. I don't care who you are.
Why does ET countertrend powerful trends so much ?
- Thread starter No.Heat
- Start date
Now that's funny. I don't care who you are.
I got caught on ES and took a LOSS, but the pain was significantly reduced by E6...will re enter ES +1225..
Incredible timing for this thread...
NiN
precision and the ability to define a trend of course.Quote from Cheese:
The word 'trend' is often meaningless. Why? What is it? Is it the trend since 1929 or merely the trend over the last 29 minutes. Trend it seems is a 'feel good' word endlessly used by many amateurs. I try and avoid any use of the word.
I describe market price movement as 'gyrations' because of the outstanding neutrality of that word. Gyrations are the sequential swings, up and down (or vice versa), of price, from open to close, each trading day. I have specified those swings in past posts when referring, for example, to CL.
It will surprise many at ET but highly successful trading in markets lends itself to precision.
After years of trying to find low risk trades to enter for long term trading into an established trend was futile for me, I decided to go the other way. Then years of working, I found certain patterns occur at ends of trends to be much more reliable for me than getting into established trend. And the same applies for me in day trading.
To me it had nothing to do with getting in at extremes, it had to do with finding statistically backtested methods that proved to me it would be profitable. Do I have losses, hell yes, and so do trend traders. But I don't have to risk much and when it does become profitable, I get more.
The longer I trade, the less I see trend, prices goes up/down, it is your ability to educate yourself to price pattern of how to manage the trade.
To me it had nothing to do with getting in at extremes, it had to do with finding statistically backtested methods that proved to me it would be profitable. Do I have losses, hell yes, and so do trend traders. But I don't have to risk much and when it does become profitable, I get more.
The longer I trade, the less I see trend, prices goes up/down, it is your ability to educate yourself to price pattern of how to manage the trade.
a trend is at least two successive tick price changes in same direction..higher or lower. the price must increase or decrease TWICE from initial price to qualify as a trend.