That blue fifty ma can sometimes be useful.
https://www.elitetrader.com/et/thre...t-right-here-baby.343012/page-39#post-5761036
Why wait for a pullback?
- Thread starter Blitzjoker
- Start date
https://www.elitetrader.com/et/thre...t-right-here-baby.343012/page-39#post-5761036
ES dropped 67 points from high to low by today's close. Maybe some late shorts will try to short this, but now's the time to consider the long side. And since the long trend may just be starting here it's okay to not wait for a pullback.
Now, if ES runs up to say 4150 before you recognize the long trend and start considering a long entry, well, then you should be more careful as it might just be ripe for a pullback.
Not a trading recommendation. Just an illustration of what I'm talking about.
Now, a few hours later, this turned out very well as an illustration of what I'm talking about.
The market (for me, that's e-mini S&P 500, but maybe it can be generalized to all markets) have many modes or states, so there's no one size fits all for all scenarios.
Which is why like I said sometimes it's vital to wait for a pullback while other times you just want to enter because you know that a pullback may never come or it may be a minor one.
But it goes without saying that merely entering without waiting as a rule will make you a net loser in (day) trading index futures.
How would something like that work on a chart like this?
What time would you 'jump on board'?
https://www.elitetrader.com/et/threads/does-trendline-work.335191/page-37#post-5761194
The vast majority of players are net losers. That definitely goes without saying. This is a zero sum game. There can’t be consistent winners without a lot of losers.***
But it goes without saying that merely entering without waiting as a rule will make you a net loser in (day) trading index futures.
I’ve noticed that losers learn to be waiters. Usually they wait for “set ups.” A pullback could be looked upon as a set up. Waiting for “confirmation” is another common practice.
The general theme is that the market is a threatening place. Experienced losers have similar coping methods to deal with their fear.
Losers don't think logically, thats the majority of the T/A, P/A crowd.
Here's some logic!!!........
If the majority fail, if the majority are technicians, if the majority are technicians following other failed technicians, how then is it possible to be a leader, a winner, have an edge?
Your logic is infallible.
Technician believe they are clever enough to discern the smart money, and so they "follow the smart money".
Bollocks!
The vast majority of traders are retail, the retail trades muddy the smart money water.
Besides, smart money are not dumb, they muddy their own water with spurious trades.
Bollocks!
The vast majority of traders are retail, the retail trades muddy the smart money water.
Besides, smart money are not dumb, they muddy their own water with spurious trades.
Hello savior,
I agree.
Non-quantitative trading setups are like assholes, everyone has asshole and they are full of shit.
SimpleMeLike, you have a unique style of expressing things. Reading your posts makes me smile. I hope your trading keeps improving and you reach your annual goal of a million dollars.
Curious - why the need to always bash other methods? The implication being that you have something superior, but to be honest, your algorithmic forecasting didn't work out that well on index futures this week at least. In fact, you were extremely bullish at the weekly high.
I can use the exact same argument and tell you that the majority who tries algorithmic trading or non-mainstream methods for analyzing/forecasting/trading the markets also fail. So, why then is it possible to be a leader, a winner or have an edge when everyone fails at algorithmic trading?
But to show you the flaw in your reasoning let's just acknowledge that in every field or walk of life there's someone at the top. Someone who's better than the rest. Period. And it doesn't necessarily relate to better resources or special circumstances. They're just better at utilizing the same information/resources.
For example, in class, there was always someone who just gets it and at a much higher level than the rest with seemingly little effort. Or someone in gym who's just faster and stronger and better in every way.
Not everyone will be a top musician, academic, chess player, mathematician or athlete.
So, from my point of view, it's perfectly possible that the reason the majority fail does not mean that TA on it's own is a flawed method. There's just someone out there who's far better than the crowd in utilizing it.
That's not to say there can be smarter methods to analyze/trade than what's available mainstream. Just pointing out the flaw in your reasoning.
Not sure if this was a spelling error or if I read you wrong, but the vast majority of trading volume is by far institutional. Not retail.