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COMMON SENSE


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Updated November 27th 2014 by mfbreakout
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COMMON SENSE

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  #491 (permalink)
BOSTON, MA
 
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Thanks to BSinks, i also look at free service StockMapper along with market internals to see which way to lean. Shorts and Shorts. When i shorted 1125 and later 1123- the enclosed chart was not as RED as it is when TF hit 1110. It was kind of neutral. So, shorts were not a given around 1124, however, one thing was clear- THERE WERE NO LONGS at ORH. As the selling pressure picked up- added to shorts.



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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  #492 (permalink)
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Staying with CC longs.



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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  #493 (permalink)
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Traders who were buying yesterday into close based on support etc took lot of overnight risk. What did they get? Nothing during Globex session. Imagine going home long yesterday and then till 10.30 am this morning- Nothing.
A friend of mine took long TF 1111 area yesterday and placed the stop loss below yesterday low at 1108. He endured JOY RIDE till 10.30 am eastern time. He got lucky and did not get stopped out. TF is at 1119 area. He got paid.

What did we get? We get paid too but without JOY RIDE. If one wants to take a position and hold overnight- regardless of the reasons- one can not be cute with stop loss.



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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  #494 (permalink)
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This is for traders, who are very good with direction of a move, entry BUT stop loss been getting them hosed not for a week, a month but for years. They like it tight and want to get paid quickly ? Tight and Quick. I am not aware of such a set up and even if there is one, mostly it does not work in trading.

Maybe following will help them to reevalaute their thinking " Opps, i did it again"




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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  #495 (permalink)
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mfbreakout View Post
This is for traders, who are very good with direction of a move, entry BUT stop loss been getting them hosed not for a week, a month but for years. They like it tight and want to get paid quickly ? Tight and Quick. I am not aware of such a set up and even if there is one, mostly it does not work in trading.

Maybe following will help them to reevalaute their thinking " Opps, i did it again"


I'm getting better today though......lol

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  #496 (permalink)
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It does not matter how experienced a person is any field- everyone needs to be reminded to focus on BASICS and COMMON SENSE.

Wayne Rooney getting reminded to get to basics. It does not matter that Rooney is KING OF THE HILL of english football league.




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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1) Misread price action in CL late afternoon when it broke above 92 area and missed longs.Short 92.60 , 92.90 and 93.25 area. Holding into Globex. Looks like once every two weeks i miss longs and have to meet CL on the other side and sweat bullets for a day and manage position till FAT LADY sings. " ROPE A DOPE".
2) Out of longs TF 1122 area.
3) Long NG all morning. Got tired and flat. NG provided high and tight set up for short late afternoon.



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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  #498 (permalink)
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Too many set ups- if one starts looking at BIG PICTURE.



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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Stopped out of NKD short.



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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  #500 (permalink)
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Longs and Longs. Give me some Cocca.



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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November 27, 2014


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