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I sort of had this thought too. Unfortunately, pure contrarian signals can have the problem that sometimes the prevailing view is right. (Damn. )
It is an interesting development that we suddenly are hearing all about the coming recession, though. Just as if anyone could know.
For whatever it's worth, I voted for the 100% option, but in my comment in the thread I said that I think one is coming, but I don't know when. I know, this is not a great "prediction," but it's all I think anyone can do....
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I was very busy at work today, so I did not have and do any news trades. I have been working on another hourly chart VSA set up on stocks and I decided to test today since I knew I could actively watch the charts/News feed. It worked well today, with still three open positions. With my stock set up, I put all my entry and exits in advance. My CL calls are doing much better now. Any positive news tomorrow and I should be ITM and take one off.
A good and easy day. I am up $136 today on my closed trades with no stress at all.
Work was a mess again today. The company is going thru reorganization and it maybe a good time to start looking for a new job. No news MES trades since I could not watch the market during trading hours. I did put in few orders for stocks using my normal VSA set ups on the hourly charts. They were filled and did well. I am still holding three positions for tomorrow.
My CL calls are about the same, but were positive early this morning. Sorry not much time to show all stock set ups/charts.
A good day with no (trading) stress. I am starting to like my VSA hourly charts. I am up $236 for all my close stock positions.
Today is also just a posting my daily trade results, No charts. I do all my homework of hourly charts at night and place limit orders with brackets ( Thank you @NinjaTrader @Big Mike for NT8 competition gift). Again, changes at work are not allowing me to day trade. But on a good note, the results are good and the (trading) stress is gone
Here are my closed trades today. I am up $379 with one still open at a draw.
I had a question about my stock trades. So, I will answer here. It is the same set ups as I have posted in the pasts, but hourly charts. I buy the bottom of the channel and sell the top. If I have a bias, which I do not now-bullish, I only pick the stocks that meet that bias.
I also look for springs and upthrusts ( again springs for now since I am still bullish). There are tons of videos on YT concerning these.
Also, I use trailing stops since I cannot watch the market all day
Hi Zimmer,
It really depends on the chart. I use swing H/L, so it is never the "proper" R/R we read about in most trading books.
But I would never go higher than 2Risk to 1Reward. Then I do tighten/trail as we go into profits. To steal a line from a market wizard, "put it where they cannot reach it." Target is always clear; based on market structure and/or ATR. Targets should never be higher than half the 14 period ATR.
I will add charts over the weekend.
The same as yesterday with work and trading, but not the same results. I was bullish in the morning, and placed my trades as such, but the markets fizzled. I did a quick check at lunch and it looked really ugly, but no volume. So I held all. My CL options are also not doing well due to some OPEC news, but I am still very bullish on CL.
Nothing was closed, so no loss, but a good draw. Monday is off, so I will worry about this Tuesday.
; so far.
)