I wasn't certain that was where it was going to drop, so I figured I would get 'some'. That is the difference between a horst and me. Trade management.
I think my entries are roughly fine most days (MOST....) and could net me some nice $'s, but if I don't let my winners run.....
Roger from NFT is a master at letting them runs run. I have seen him be up 5 points and have it come all the way back up knock him out and then short again and then make 7-8 points. Talk about patience!
Looking at today's charts wouldn't you consider first three signals looking at 4 MACDs? So as you can see you would take three losses, but if wait far pull back you would be safe. Attachment 41959
You wouldn't take the three marked because 377 and 610 are still showing down. Also, new lows for the day are being reached...that's no mans land for me so far. 610 doesn't reverse up until the pullback bar you marked.
The following user says Thank You to HighRise1202 for this post:
As I said that's just my way of trading. You guys can trade whatever you want. Get on the edge, bugs #s etc.
Just do what works for you better. You guys asked me about my way and I just shared my experience. I don't want to tell anybody to trade the way I'm trading.
I'm done with this conversation.
@HighRise1202 You could just show everybody what you are doing instead of saying this was good and that wasn't. I pretty sure you would get in at the third entry. But again I'm not trying to prove anybody that my way is better. I'm just saying that instead of talking about what's better you could start your journal and we could learn from each other!!!
If you guys have any question you can ask me in my journal because I feel bad posting replies to someone's comments on Blue's page.
Ok, how did I not see that long? Well, because my indi's didn't like it and that is fine.
However, I did a great job identifying the continued trend and all that. However you see some bad habits creeping in later when I was looking for short a bit earlier. I wasn't waiting for trend break and retracement.
Patience middle aged one...
I took one trade today and it was not the best to explain, but it is a 'feeling' trade where you know it is going to break down.
Overall, I am happy with my thinking lately!
Last edited by bluemele; June 27th, 2011 at 02:36 PM.
The following user says Thank You to bluemele for this post:
Come on, Vovan. You've got good stuff. I'm trying to follow NFT as closely as possible. How else can one determine if it works or not? You're pullback method looks great. I'm tempted to add it. It is not trading "at the edge" but a pullback has it's own edge, correct? (How far will it pull back?) Thanks, Vovan, for you contributions.