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COMMON SENSE
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COMMON SENSE

  #761 (permalink)
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mfbreakout View Post
Market internals mixed at best. Added to shorts in NQ around 3782. So far have not been paid the way i want but enough while keeping some shorts on. The set up is reversion to the mean pullback. I see plenty of RED stocks across the board including BIG CAP technology names. Since 10 am nothing but shorts with some scaling out in between to keep the balance. I am not expecting NQ to fall out of bed but 20-30 points should be good enough for a pullback.

Out flat 3752..



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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  #762 (permalink)
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mfbreakout View Post
For ACD traders- the long set up was one of Mark Fisher classic. A up against extreme sell off/ -ve price action. Bad news good price action.

for CL you mean?

dont believe anything you hear and only half of what you see

¯\_(ツ)_/¯

(╯°□°)╯︵ ┻━┻
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  #763 (permalink)
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mfbreakout View Post
Wow, wow-- One has to be prepared when something happens with CL like it did today. 99% of the time i am against trades which require QUICK THINKING and HANDS. However, one should leave room for 1%. Over 4 years i have seen something like this probably 5 times. I am glad i had Carlos Danger video on my mind this morning.


Today CL price action is a good example of stop loss. I was short from 81.90 and added at 82.30 with a stop loss above 83. I saw buying rushing in, i am not going to just sit there and see if 83 is hit. At minmum i had to flatten and if set up lines up- go long.

For last 4 days, there were no buyers and stop loss worked like a charm. I had shorted multiple times over last 4 days around 82.10, 82.30 etc with massive gains. Today price action called for to lift stop loss, get out of short and try long.
Of course over last 4 days, my stop loss could have hit but i did not see any reason to lift stop loss and held on to shorts. Now for next short set up whenver that lines up, stop loss will be 130 ticks above 95 area and that's wher it was on my short from 84.15 area.



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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  #764 (permalink)
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madLyfe View Post
for CL you mean?

YES.



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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  #765 (permalink)
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NQ

GOOG missed earnings and revenue estimates. Hum-----. APPL on tap next week. Holding some shorts in TF. Damn TF has not pilled back at all. Short from 1082 area. Today was a good lesson for me to first hand get a feel of difference between NQ and TF. Both have different composition in terms of stocks within them and they react differently when their major compnents have spot light on their back. For NQ it's GOOG, FB, MSFT , AAPL and the likes. I knew off the difference between them but did not had a good feel as to how they trade. Today NQ kept puuling back nicely with 30-40 points off highs. I kept adding to my shorts in TF hoping for a decent pullback but no go.



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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COMMON SENSE-2014-10-16_1603_nq.png  

Last edited by mfbreakout; October 16th, 2014 at 05:53 PM.
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  #766 (permalink)
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How i set up a trade during globex session. I typically do not place trades during globex session. They generally have not worked for me. Lately, there have been expanded volatility in CL, therefore i am taking trades to take advanatge of the volatility.



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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COMMON SENSE-2014-10-16_2157_globex_final.png  

Last edited by mfbreakout; October 16th, 2014 at 11:06 PM.
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  #767 (permalink)
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@mfbreakout I know you mention it here and there but What specific internals do you look at? Which are garbage? Thanks

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  #768 (permalink)
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robert880 View Post
@mfbreakout I know you mention it here and there but What specific internals do you look at? Which are garbage? Thanks

Internals to gauage if sentiment of majority of market participants is bullish, neutral or bearish are following. These for trading NQ, TF etc. For CL, NG, GC etc. I am basically trading based off daily and weekly ATR of each instruement.
If CL moves 150 to 300 ticks intra day, i am looking to short at highs within a macro bearish trend. In a macro bullish trend i am looking to go long when CL pulls back 150-300 ticks. Lets look at todays CL range. CL moved from 80 to 84.80, that's a 480 ticks which is way outside ATR. Picking an area to go long was tough but to short anywhere at highs was an easy trade.

Which are garbage? I am not sure what you mean by this.



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.
Attached Thumbnails
COMMON SENSE-2014-10-11_1318_stcok_mapper.png   COMMON SENSE-2014-10-14_1610_nyse.png  

Last edited by mfbreakout; October 16th, 2014 at 11:25 PM.
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  #769 (permalink)
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Thanks. I thought you watched stuff like nyse tick or trin. Thanks again for the clarification. I'm reading the logical trader now motivated by your posts

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  #770 (permalink)
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mfbreakout View Post
How i set up a trade during globex session. I typically do not place trades during globex session. They generally have not worked for me. Lately, there have been expanded volatility in CL, therefore i am taking trades to take advanatge of the volatility.

Time to check in Euro open and CL short i put in during Euro session.



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.
Attached Thumbnails
COMMON SENSE-2014-10-16_2157_globex_final.png   COMMON SENSE-2014-10-17_0257_globex_short.png  
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