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COMMON SENSE
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COMMON SENSE

  #451 (permalink)
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madrid spain
 
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nq


mfbreakout View Post
Longs and longs all day.

entry after a little shake out
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you know how can i hold the winner...i went to have dinner
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thank you for share your knolewdge,

i think that your common sense/experience you share with us are very important lessons, they make sense for me, and answer a lot of questions i was doing these years


i have started practicing with 15 lots max size/$150000 sim ,wide stops, and i am notices 2 different worlds, building a position compare with 1 lot and an exact entry,
but in the other hand, i need to take care the multiply effect in risk, to take it in main consideration

thank you

La lucha es de igual a igual contra uno mismo
The fight is fair against oneself
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  #452 (permalink)
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Hi Alejo,

My recommendation will be to stay away from any chart less than 5 minutes. Higher the better. Even though we do not have trading capital of big money traders but one has to think and trade like them. Try not to focus on smaller time frame.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #453 (permalink)
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Short 92.22. Cover some 91.85. What? There was support at 92, there were buyers there on Tuesday. That was on Tuesday. Today is Thursday.

I do not mind shorting into so called support or going long at so called resistance. Stay with the trend and if joining the trend late ( like short 92.22 ) just size it properly and be aware of potential gains left per your time frame.

NOTE: Switched to CLX4 contract today.

Added to short 91.97.

Note: Continued comments as posted on the chart. Ran out of space on the chart.

" Bad habits like these which leads one heads on to compete with algos etc are not very helpful for a discretionary trader to say the least. Every time CL bounces 30 ticks we start thinking of going long or getting out of our short is a clear signal that a trader is just too much focused on ticks and trying to trade under the false pretense of being a PRICE ACTION trader. We spend majority of the time and energy on useless excercise to figure out as to why CL bounced 30 ticks here, how can i figure out the mystery of these price movements ( i call them random) is the QUEST we keep running after and keep getting hosed by vendors selling us systems and by algos etc.

Nothing gets built over a short time period. It takes time. However, FOUNDATION has to be laid out very carefully. Wrong foundation and one can spend rest of his/her life fixing up that mess. Mostly it's very difficult to fix up that mess. In most cases one has to rip up the foundation and start all over again. One brick at a time.

In summary- ALWAYS ask is this REAL buying or just random noise? Try to ignore dead cat bounces in between. This is most difficult. Where to put stop loss, how to handle retracements etc. are all very important questions and i do not have easy answers either. All i know that if one picks up direction of trend right- stop loss is very easy. Pick wrong direction and 100 ticks stop loss may not work. Focus on picking direction right and then give enough breathing room for a trade to work out. What is enough breathing room? The one you are comfortable with and if the one you are comfortable with is not working- CHANGE IT. It's not about what we are comfortable with. It's about what works and what does not.

NOTE: Chart should read reshort 91.97 instead of 92.97. What i am proposing is just one way of trading and the main focus is to stay away from competing head on with algos etc.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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Last edited by mfbreakout; September 19th, 2014 at 06:08 AM.
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  #454 (permalink)
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Which side had an upper hand over last 5 weeks? This is as much of deep analysis i am able and willing to do. In my experience traders who spend lot of time on analysis by looking at charts etc. get drowned by their own analysis at the time of execution. On a 200-300 ticks move, they will grab 30 ticks and be happy thinking that they picked up an excat trade location with very little risk, without realizing they were lucky to ride a very small insignficant wave within a BIG wave. When and how rider of a small tiny wave survies within a BIG wave is not something i am willing to bet on.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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Last edited by mfbreakout; September 19th, 2014 at 06:42 AM.
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  #455 (permalink)
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I do not trade wave patterns etc. I just used wave example in previous post to make a point.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #456 (permalink)
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stunned

staying short CL unless something changes like some buying shows up or exhausation to the down side.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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  #457 (permalink)
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Every Tom, Dick and Harry ( i am in that group also) is trading ES, NQ etc. I am trading them also. However, there is nothing going on there except rotation which requires long hold time. My main FOCUS has been for last 3 days in $ senistive instruements. Shorts across the board. They also require long hold time but at least one get paid triple vs ES, NQ etc for same risk and same hold time. These are very VOLATILE instruements and require wide enough stop loss that even i get worried, so be careful if tempted to trade them at all.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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Last edited by mfbreakout; September 19th, 2014 at 12:28 PM.
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  #458 (permalink)
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Most of the traders have no clue as to what kind of hold time it takes to get paid while trading ES, TF etc. Been in short for 2 hours and counting plus up and down fluctuation in between where one is up 3K and next 15 minutes back to square one.

Still holding shorts after covering some. It's beyond me how home gamers try to trade small time frame charts and expect to win against algos. etc. I guess it makes us feel that we are in control. As one body twitches and moves with every 2 points moves up or down- it's nothing less than exciting to say the least. Whether one comes home empty handed at the end of excitement with this kind of trading is a different debate.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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Last edited by mfbreakout; September 19th, 2014 at 01:02 PM.
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  #459 (permalink)
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milking the cow

I was talking with a friend. He tends to get over excited. Afetr 2 ponts from the short side, and 3 points from the long side in NQ- he was out of control with statements like " I am milking this baby really hard".

On the third long attempt, it's the baby which has started milking him and he does not even know. All the milk is gone and something else is coming out of him. He is afriad to short. Why? beacuse he made 3 points from the long side earlier and is SCARED OUT that the moment he takes the short, NQ will bounce against him. NQ can bounce and will bounce if all is worried about 2 points etc.

Just because something looks like a cow does not mean it's a cow. He acutually had a bear in his hands but at the time she looked a cow ready to be milked. In markets cow becomes bear, bear becomes cow as traders whose action matters get going. Don't come to the marke with any pre concieved ideas.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.

Last edited by mfbreakout; September 19th, 2014 at 01:22 PM.
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yesterday longs and longs. Today, shorts and shorts. Why? what kind of pre market preparation, analysis you did?
NONE.

Nothing matters till everyone is on the playing field.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
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