Per counter-trend trading. Again it depends on your definition of the trend. Pull back is mini trend against the major trend, right? So taking trades at the end of the pull back is also counter-trend trade.
When you counter-trend 144 you follow the trend at 1597. As you said it seem a better idea to use 144 just as an entry TF and use for exp. 440 as trading TF end 1597 as bigger TF. Wait for the area on 1597 then watch 440, get in at 144 then back to 440. This way you get small SL and bigger targets.
@HighRise1202 I don't really get that question. Probably because I'm russian.
If you meant counter-trend trading I guess we answered it. I think we are always counter-trend trading at least you jump in the quick move with market order and hoping it will keep running.
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I have a brother-n-law and a sister-n-law from Kazhakstan. I got plenty of cheap, shitty vodka while I was there. Oh, if I said that within that country my head would be chopped off in a soccer stadium. haha.....
I do want to visit Moscow and St. Pete's some day. I actually have allergies to alcohol now that causes me to sneeze uncontrollably for like 2 days! The only partying I could probably do is smoke a joint which sadly is still illegal in most parts of the world....
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Not sure I follow which trade you are asking about?
I was looking for short because the higher timeframes with Fib's looked like short was the better answer. MACDBB was rolling over and a long ways from support, so the longer trade would be short till I hit major support.
Pretty rangy morning and glad I did as well as I did, but I think in 2012 you will see much better.
I am diligently working on bettering my performance. Less noise, more focus.
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Woke up a little late and a bit groggy. I most likely would have taken that short out of the market open, but no big deal.
I took a short later in the day, but I failed to put in a longer term trend/support line for the wedge and that is where I could have taken my 1.5 points and been done for the day. After that, the trend looked up, and I didn't see an entry and it was a little late for my trading so I just called it a day.
There was a beautiful break of the channel, then pull back and continuation which was textbook but it all happened when I was wrapping up my vid and done for the day. Hopefully this week will be a bit more stable and start back full time again. It has been a nice break from the morning trades.
No nerves really, more patience but failed to set proper Targets prior to entry of trade. One thing I have realized that either because of the general nature of futures and rollovers as well as how the data is generated through NT, that the trendlines long term get goofed up if you update them. For instance on CL, today was a perfect touch off my old trendlines, but I updated them to the new 02-12 and nowhere close... Interesting...
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