Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
-Most major news came out early at 830
_______________________________________________________________________________________________
-Yesterday FOMC shook price around for a couple of hours (I hope you guys made some money)
-ON had a decent range
-ADR @ 60.30, ETH VWAP: 4930, W-VWAP: 4920, M-VWAP: 4839
_______________________________________________________________________________________________
-Expecting a decent range today. Possibly a bit of a push higher until about 4960 area
-If we get a press down to 4925 @ open I will be long until about 4960 area (maybe)
-If we get a press higher @ open I will wait and see....
-Be Patient today. Especially today due to post-FOMC trading.(never traded post FOMC)
-Don't hesitate to take a trade that gives me the right signals
-Don't hesitate to change hypothesis if proven wrong.
_______________________________________________________________________________________________
I was getting some resistance 1 tick below my target. Just wouldn't hit it. I had previously promised myself that whenever I am 10 points in profit and I get some resistance, I will either flatten or move my stop to avoid any losses. So I moved my target 1 tick down and took my profit as soon as it touched it again. (Of course then it shot up another 5 points)
I would love to keep trading but I have a doctors appointment and my son has a concert, so I'll just get ready early.
Good Luck to all !!!!
"It's not about being right or wrong, it's about how much money you make when you're right, and how much you don't lose when you're wrong"
I hate to be "One of those guys", but I will be for today.
So, No bullsh*# I almost took another long trade @ around 4928. I looked @ my PnL and decided not to. I figured I would end the day on a high note. I usually only take more than one trade when my first trade is a loser. When I was done posting I saw that my "could have been" trade would have been a winner.
But, I will not dwell ! I will go shave now and get ready for the rest of my day... Good Luck, again !!!
"It's not about being right or wrong, it's about how much money you make when you're right, and how much you don't lose when you're wrong"
Actually, since you really didn't know what would happen, this was well done. You just did what you had decided to do, which is exactly what you should have done.
-Major news is already out
_________________________________________________________________________________________________
-Yesterdays price reacted almost exactly as expected, except I did not anticipate that drop in price after lunch.
-ON range was low until European session opened, then more movement and a push higher to 4940's.
-ADR:60.46, ETH VWAP:4939, W-VWAP: 4925, M-VWAP:4848
_________________________________________________________________________________________________
-I am expecting a similar day to yesterday.
-Maybe a press lower @ open until about 4938 (pivot), then a slow push up all morning toward recent highs of 4960's area, and then the afternoon can bring in a little more volume and sellers can bring price back down a bit.
-By end of session price can be near open or a little above opening price.
"It's not about being right or wrong, it's about how much money you make when you're right, and how much you don't lose when you're wrong"
Can't read the market today. At all !!! I've made 8 trades today. Not typical at all. I usually don't take more than 2 or 3 trades, but I kept making some of my money back, so I kept going. As of right now I am in the red 7.25 points and I have one final trade playing out. I don't want to look at it so I don't get anxious. Whether it' a winner or loser, I am done for the day. I recorded a video of one of my trades when I finally decided it would not be a bull trend day. If you watch the 3:00 minute video, you will see I am hesitant and flattened kind of quick. I really couldn't get a read on anything. Let me see if I can post it....
As I was posting , My trade was stopped out.... Down 10.25 points
Good Luck to all!!!!!
"It's not about being right or wrong, it's about how much money you make when you're right, and how much you don't lose when you're wrong"
Add 5 mins OR and watch Day Open. See how price reacts at OR High and low and very important Day Open. 4950 is Round Number and been clearly resistance. I wanted to take short there and could not due to CL position and going out.
Good observation ! My Bull bias blinded me to the truth. Originally i had an order sitting at 4924.75 and price just unexpectedly shot down and bought it before i could realize it. By then i was already committed to the trade and my bias. It took me 2 losing trades before i decide to change my thesis to bear, but the wait was too long and eventually i became a bit anxious and took some trades that bounced me around.
I just took a look at the market and wow what a bear ! I had to leave to work and didn't want to over trade. Too bad you couldn't benefit from your observation. Get em next time !
No trades for me yesterday due to work and personal stuff. Too bad I couldn't capitalize off of yesterdays strong move.
-No major news today except redbook
-yesterdays price moved strongly @ open over 50 points past ATH until ultimately coming back down to 4927
-Notice price has just been ranging between 4900 and 4960's past 5 trading days, with each market open alternating between a strong press higher or press lower at open. One day press High, next day press Low
-If we continue this trend , then today would be a press down day to about 4910 until about lunch or so
-ON price had very low range
-ADR 58.68, ETH VWAP:4943, W-VWAP:4942, M-VWAP:4858
_________________________________________________________________________________________________
-Holidays might continue to bring price slightly higher everyday during A.M. until christmas
-Going to watch open.4938 was support ON
-If we get a press down @open i'll get long at around 4940 "ish"
-If we push higher @ open the I will re evaluate
_________________________________________________________________________________________________
-Be patient
-Don't hesitate to take good trades with positive signals
-Don't hesitate to change hypothesis (especially since the trend is telling me it might be a down day )( So be careful with bullish thinking)
"It's not about being right or wrong, it's about how much money you make when you're right, and how much you don't lose when you're wrong"
I have one last trade plaing out. As of right now I am even for the day , but i took about 7 trades.. i was up 5 points and risked it on my last trade.
I have some screen shots but i have to go to work...
I flattened.. Gotta go.. At least i'll cover commissions
Good luck to all !!!!!
"It's not about being right or wrong, it's about how much money you make when you're right, and how much you don't lose when you're wrong"
No time for pre open analysis.. I took 3 trades this morning, but I was called to a jobsite just now. I was already expecting this call, So i kind of rushed everything. 1 winner 2 small losers.. Gotta Go !!!!!
Last one was short and just dancing around, so I flattened...
Good Luck !!!!!!!!!!!!!!
"It's not about being right or wrong, it's about how much money you make when you're right, and how much you don't lose when you're wrong"
! I had to leave to work and didn't want to over trade. Too bad you couldn't benefit from your observation. Get em next time !