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Catching Big Waves - a trader's journal of surfing the the markets
50% is something that I use, but only if it has confluence with something else, like a clear SR pivot or another fib from another direction. I often eliminate it when it doesn't. The real reason, initially, was that it gave me too many choices, particularly without confluence. That may sound like a flimsy reasoning, but that started it.
And in my perception, it seemed to hold less power. Just from watching reaction over and over, a 386, 618 or 786 gets reaction more than a 50. It could be psychological for me, but that counts too.
But even if a turn does occur at a 50, and I "miss it", if it is going up I can see it.
Another way to look at it, I use DCs and MAs, and could have them at more periods than I do, and the market certainly turns before or after what I use all of the time, but I eliminated down to just a few that made sense to me, because it helped me define rules better and have less choices.
Can you help answer these questions from other members on NexusFi?
P.S The cross dressing going well, I draw in predators like you. Once your reeled in and you split my legs open to find something discomfiting my hallucinogenic would have kicked in
6 hrs later you wake up to find i have washed your walled and accounts out with you rusty pant on your head!
More importantly your pride and dignanty and manlyness
Sorry @GaryD i was trying to approach you with a serious question but Mr. Hedvig......well you know is be in good old Mr Hedvig
Well let him off as he is on vacation in fishing mode……..one time
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
You posted a perfect chart example to coincide with the point I was making.
Resistance was obvious without the 50% retracement, but in that case it could have added confluence.
Remove all the fibs, where was the key resistance? I will answer it myself...
But remove some other key area, and I have not been that impressed with the 50% as a solitary level. However, I have noticed significant reaction with 386, 618 and 786 with nothing else to hang your hat on.
I have been fond of the 81.30 - 81.80 area for awhile now, and confluence is continuing to build. A 100% of possible Wave A just appeared in the past few days price movement, adding strength to the 618 and LSP in that area.
Secondary confluence is now also taking shape in the 79.60 - 80.00 area.
Joking is encouraged, but easy on anything that might be viewed as derogatory. There are places for that, but it's just a weird energy to have in a trading journal. Not a big deal, and most likely tame for Mr H... I admire his bold approach, and yours, and in a bar setting I could possibly get as raunchy as anyone. May even be capable of shocking both of you if I tried hard enough. At least I was at some point in my life
It's not any discussion of gender that seems out of place, but more of predators and legs split open and rolling him for his money that might be a little off topic here.
If you really wanted to be a cross-dressing trader, and it made you happy, that is cool with me. If you are 100% heterosexual, as is my guess, and as I am myself, but comfortable enough to play with the topic for the shock value, that says something of character and self-confidence also. That's cool as well.
That whole areana is far more acceptable in today's generation than in years past, and I am a supporter of the movement just from a personal expression standpoint. I also enjoy shock humor, Tosh 2.0 as an example.
On the topic of gender, in every man there is something feminine, in every woman something masculine (although many would get upset at my mention of that). I am not suggesting those words to describe sexuality, but rather basic emotions and instincts. For example, I am physically strong, a capable and well-proven leader and manager, wise negotiator, athletic, full of testosterone, hairy as a beast...all what I feel are "masculine" characteristics. But I am also nuturing, caring, emotional, artistic, very open-minded, and to me those favor "feminine" qualities, and I feel lucky to have those as well.
There are positive and negative charges, yin and yang, summer and winter, day and night, polar opposites... that work in harmony to create our world, and ourselves, and without some mix of both, not much would exist.
Maintaining a view of both sides; those who are buying and those who are selling, seems like a pointless task at times. And yet without it, how can a trader remain flexible enough to be effective?
On the minor side, first line resistance may come in at 84.40...
100% GaryD, i just had to post that chart. Its so perfect not to lol
Not only was it a 50% retracement, that level was also the PHOD from the trading range the previous day. If you look at that kind of stuff. Inside day`s and outside days tell me a lot
But yes it was easy to see and i know your strong enough minded to keep focus on your method and view. This is an important factor, most people would have the urge now to add the new tool
But not you, your confident the way you see things and analyze the markets. This is GOOOD!
Sorry about the vial post, keep forgetting this is your Journal and not Sir H`s "Deep thoughts", still a joke every once and a while Hey...ill just try keep it tame
And your right as much as MR H would hate to hear this, we all do have a feminine side as do women have a musclin side Estrogen....testosterone......men get moobs....women grow moustaches
Ill say no more
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
Today was a tough one for me. Not that I lost a lot of money, I ended down $130.00. But more in my ability to adapt my thinking fast enough to find a good trade.
I was very reserved due to a heavy calendar, and passed on several trades that would have worked out, but it seemed the market wanted to sell off, but then would race back up to above it's starting point, but on relatively low volume, except for the burst of traders realizing they were on the wrong side.
Both major news releases push the market down with force, then price drifted up until it was convincing enough that the down move was over...
It wasn't that my indicators were not working, and looking back they did attempt to show me where to trade. Each reversal gave a clear signal. But the moves just felt out of synch to me for some reason and I stood aside. I did not agree with the indicators, which can be a dangerous way of thinking. Today it caused no harm as I sat flat for the majority, but something between volume and indictators was throwing me off on a day where my charts are specifically designed to take advantage of these types of moves.
I arrived back in Orlando last night, after roughly 2 weeks on the road. I'm experiencing scheduling issues in two cities, and a technical issue in the third, so maybe it is the stress of that. But I do know that feeling out of synch can be a self-fulfilling problem when it comes to trading, and so I just sat still today, at certain points pretty much knowing what was happening, but still not wanting to join in.
I keep feeling that down is the correct direction, why I can;t explain, meanwhile the majority seem to not agree with me.
I watched as the minor trendline to the upside held each time it was challenged, and I did not miss that the current wave's 786 held... Just not in synch today?
= feminist apparently!
