Why Is The Obvious Not So Obvious?

[Mysteron]

You still have a long way to go..when it gets boring you will know what you need to know!

Getting stopped out is a normal part of trading..but over time it should be less as you start to see what the charts are actually showing..but you will still have losses no matter what you do!

Key is to lose a small bit..then when it does move..like today..you maximize on the opportunity and increase your size for larger profits..not easy to perfect..but well worth the time and effort.

Next time you go to bed..think of the waterfall

Its amazing the various analogies people use to describe price movements:

 

[jsmacksem]

Its amazing the various analogies people use to describe price movements:

View attachment 175268

Dead cat wedgie one of my favorites.

 

[jsmacksem]

Then again entire sketch is dead cat wedgie.

 

[ironchef]

There are 3 main things that affect your trading results.

1. Direction
2. Timing
3. Money Management

You can guess 1. all you like..it really will not make one little bit of difference.

The better you get at 2. the quicker the trade moves in your favor..and the better you get at realising profits.

Without 3. you really have no chance of staying in the game to get better at 2. and thus become good at reading 1.

Of course, the biggest obstacle you will face, is yourself

I finally paid attention to 3. after all these years. I posted a thread on Kelly Criterion as risk management tool and received some excellent helps that are going to change how I manage risk/money from now on.

I am looking at AAPL options in real time intraday since your post, but so far have nothing to show. I will let you all know how it comes out.

Best to you.

 

[Frederick Foresight]

I really like the ES

I don't know how you guys can trade ES. That's not a criticism; it's a compliment. Most days, trading the ES must be like trying to balance on a stationary bicycle. Cool if you can do it.

 

[ironchef]

Its amazing the various analogies people use to describe price movements:

View attachment 175268

ROTFL.

 

[ironchef]

I don't know how you guys can trade ES. That's not a criticism; it's a compliment. Most days, trading the ES must be like trying to balance on a stationary bicycle. Cool if you can do it.

I couldn't. Found out the hard way, contributed a lot to you pros' wallets. Next time while you are driving your Ferrari with your trophy girl friend on your side, think of me and thank me.

 

[ironchef]

View attachment 175267


Green line is 2 highs back and red line is 2 lows back. Bars turn green when price hits the green line, bars turn red when price hits the red line otherwise color is blue. Clearly a short exit based on price exceeding 2 highs back, or a long exit based on price falling below 2 lows back will result in steady losses if entries are taken without some means of determining when a sequence of rising or falling bars is likley to occur.

I came to the same conclusion after staring at charts for the last few weeks. So, there is something else.

Thank you for the comments.

 

[stepan7]

ROTFL.

Authoritative source

 

[stepan7]

Authoritative source