Why Is The Obvious Not So Obvious?

[The Oracle]

Quote from mekanikal:

Now that SPX is sitting at a major s/r level - anything is possible. In your quote above what stands out is the volume of 1.14k @ 1345 OTM put.

I also saw a high OI of 5k @ 1380 call.

So it could be a WRB day tomorrow and based on overnight action + how it opens, a trade can be placed.

It can also be another NRB day with no direction defined and a signal to stay put (no pun intended )

well ML..here is the updated chart..and..what matters most is what actually happens..not what others do..so..all that crap with OI and volume..does it really matter

TO is just trying to show others what TFF have seen..and..what others do with such is up to them..but rest assured..if others make or lose money..it will not be due to TFF..or anyone else for that matter..it will be due to what others do..and when they do it

what matters most when trading?..besides the No.1..which we all know by now is a given..right

TO

is there anything OBVIOUS u can see on the chart

 

[The Oracle]

Quote from mekanikal:

I am sorry if I came off like an idiot. I was just trying to use my B&E to co-relate the information with my system, ended up pulling the wrong chart - which still co-related somewhat and came to a wrong conclusion No way I intended to imply you were lying.

Famous quote - Co-relation does not imply causation!

I hate ToS charts. They have tons of shit indicators imaginable and then some to put on a chart but god forbid you want to do something simple like a comparison chart with different scale and bar type.

Also found a smiley you might like!

ML..relax..TO did not take it that u implied lying..that was aimed at others who post things but do not show/explain what it is all about..for..that is about as much use as a french letter in a whorehouse

like the smiley..btw

TO

 

[The Oracle]

if TO had cancelled lmt order and switched from long put..to long call..what long call should TO have bought..and why

TO

 

[mekanikal]

Quote from The Oracle:

well ML..here is the updated chart..and..what matters most is what actually happens..not what others do..so..all that crap with OI and volume..does it really matter

TO is just trying to show others what TFF have seen..and..what others do with such is up to them..but rest assured..if others make or lose money..it will not be due to TFF..or anyone else for that matter..it will be due to what others do..and when they do it

what matters most when trading?..besides the No.1..which we all know by now is a given..right

TO

is there anything OBVIOUS u can see on the chart

Ok TO no more rubbish about volume and OI

What matters most when trading? Keep your losses smal and never be afraid to lose

Obvious on the chart - the box between 1355 and 1360 Initially you thought it will break down from the box but later wanted to switch to break above the box.

And my losing trade of the day -
Entered long 100 T at 40.06 thinking the low has been tested and it will rise. Stop at 39.85 (slightly below prior day resistance). It stalled and started moving down. Even though I wanted to exit as it was clear to me it was bad timing, I let it be to see what transpires. The fuckers ran it down slightly below my stop before bouncing

Lessons learned - a) Bad timing/judgement b) Don't wait for stop loss to hit if there is evidence early.

 

[mekanikal]

Quote from The Oracle:

if TO had cancelled lmt order and switched from long put..to long call..what long call should TO have bought..and why

TO

Well in hind sight I would say Jul 06 1375 call as it offered the best risk/reward ratio

Wow, now we are past 500 pages (under default settings) - I pity any soul trying to read this thread end to end ... but maybe not

Off topic TO I have couple of questions:
1. Why does MC charge for training!
2. Is socrates related to TFF and his threads worth reading?

Very much appreciate your take on it.

 

[bogan22]

Quote from mekanikal:

2. Is socrates related to TFF and his threads worth reading?

Very much appreciate your take on it. [/B]

Yes, been wondering that myself for a while now.

Keep up the good work MK.

Cheers
Bogan22

 

[bogan22]

Quote from The Oracle:

so B22..TO did enter another lmt buy for the jul06 1355 put..this time at 4.50..but it was bad decision..as TO had appointment today and got delayed..so was unable to modify/cancel order..and now stuck with a put..when it should have been a call..at least it is a long put..and not a short call

i will post the updated chart so that u can see what a bad trade is like

TO [/B]

hahaha good to know other people make these mistakes as well.

You seem to have a life outside of trading. Or, is that the product of not having a life for many years whilst learning?

Cheers
Bogan22

 

[The Oracle]

Quote from mekanikal:

Well in hind sight I would say Jul 06 1375 call as it offered the best risk/reward ratio

Wow, now we are past 500 pages (under default settings) - I pity any soul trying to read this thread end to end ... but maybe not

Off topic TO I have couple of questions:
1. Why does MC charge for training!
2. Is socrates related to TFF and his threads worth reading?

Very much appreciate your take on it.

with the day we have..posts are allowed

post a link to MC charging and TO will look at it..might be some nice words to say

as for socrates..the only thing i know is that i know nothing at all

yes..hindsight is always easy..but is shows that u can learn from looking at what might have been..do u see what i mean

once we didn't go below the 1365 call we were OK..but how do u see this in a fast moving market

TO

 

[The Oracle]

Quote from mekanikal:

Ok TO no more rubbish about volume and OI

What matters most when trading? Keep your losses smal and never be afraid to lose

Obvious on the chart - the box between 1355 and 1360 Initially you thought it will break down from the box but later wanted to switch to break above the box.

And my losing trade of the day -
Entered long 100 T at 40.06 thinking the low has been tested and it will rise. Stop at 39.85 (slightly below prior day resistance). It stalled and started moving down. Even though I wanted to exit as it was clear to me it was bad timing, I let it be to see what transpires. The fuckers ran it down slightly below my stop before bouncing

Lessons learned - a) Bad timing/judgement b) Don't wait for stop loss to hit if there is evidence early.

NO......keeping risk and losses small are a perquisite for profits..and is the no.1 rule..but u can keep ur losses as small as u want and u might still never make any money!

so what matters most when u are trading?

u are right about the box ML..but there is something else which is very important..look at the 2 trades and see if u can see what it is

TO

 

[The Oracle]

Quote from bogan22:

hahaha good to know other people make these mistakes as well.

You seem to have a life outside of trading. Or, is that the product of not having a life for many years whilst learning?

Cheers
Bogan22

well B22..there is much more to life than trading..what idiot wants to be sitting in front of computer screens all day..when u can be out walking the dog and looking at the birds

goal is..not to become one of the few..but to not become one of the many

btw..it is not MK..it is ML..MK is macattack

TO

btw..ignore the idiots who only post winners..and no losers..for odds are they are losing much more than they are winning..which is the wrong way round..of course