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I don't know why did I try to go against the trend. It looked so long to me with that huge separation on1597. 4181 was clearly down and I had to listen to it. I didn't reenter my first trade. I had enough time to get in, but I didn't want to use two trades in the same area. Then I use all three trades in worse area and in the wrong direction. I marked another short trade on my chart and if it gets to 200% that could be 8 points trade. I would probably close it at 100% for 3+ points. That was nice setup from deep retracement.
Can you help answer these questions from other members on NexusFi?
Macds can give hugely false signals in a trending market!!!
Heads up on CT trades alot times the Professionals want amateurs to believe this is a point where its low enough and have folks start buying then just to have them chase your stops...
Goodluck...
"Yeah, well, you know, that's your opinion, man..."
No doubt that the 'foot' seemed to be working its way out on that video.
You did great getting into that short and then you traded like me and went for the 'safe' route.
Nothing to add except stay in there, it has been a rough couple of weeks! If you look at the long term, there was a nice pull back to a trendline on that short! I was doing a historical and it seemed like it just missed the 50% off the largest pullback though, so I may or may not have went into that one.
I'm just upset about those longs. That separation on 1597 drove me crazy.
Tomorrow another day and I hope I'm not gonna repeat this mistake. Also I changed 610 to 5min with EMA 20,50. I didn't use 610 lately at all. I can place fibs on 5 min same way. Like a lot of people say 5min and EMA20 is classic. I've never used it before. I watched it for few days now after my trading and I've never seen such a strong respect of MAs on any other time frames. I think it can be a good help on trending days. We'll see how it's gonna work out.
I don't really wanna change anything, but this just another chart like 440 for example.
Well, I think it is a matter of what you are trying to do and what you feel good about doing. I think the 13 EMA, 20SMA and other MA's all have their peculiarities!
Trading with the trend is key. I think you knew it was short, but you have been letting separation fool you. This is where I had a breakthrough in the summer to focus on the longer term charts to tell me where a likely reversal would be. I haven't been doing that lately and I see it in my trading as I have been catching a falling knife or rising one!
I think waiting for the clear trend break is better and easier and less risk. Or, doing a trendline bounce or whatever. I will look at the 5M, 20MA as I haven't looked at that in quite a while.
I took all my 4 trades against the trend. Same as yesterday. I thought we are gonna keep going down and didn't noticed that nice foot at 6765.
Then I decided to take some more trades. I took one loosing trade on my live account by mistake ($80). Then I got short again then revers to long. Then took another loosing long.
Then finally I decided to calm down and wait for a signal at 5m. I took long, got 6 points and I'm done.
I don't think that is terrible. You got yourself corrected in time!
You were ignoring your indicators (which is fine in my opinion) but also the longer term charts were saying up! I continued to [play] trade and was up 9.8 points for the day, but I am not going to count it because I was just playing and clicking. I ended my day after the long run down.
A profitable day is a profitable day, but this market is a movin'!
