Traded too soon (need to be more patient)
Got in in areas that were not significant (be patient)
I did good in noticing the weakness of the market and getting out. I could have waited for an entry at 10:02/10:07 EST but honestly I replayed just that section and I think I would have made 3 gifts just getting into that pivot!
I think it was a very choppy day for 5 ticks. Days like this are tough like yesterday but I can read days like this telling me to get out.
Took 4 trades
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if under today's artificially steroid'd marketplace trading,
you managed to do $0
then count your gains!
most got sushi'd,
most won, then lost it back, then won again, then lost it back
the retraces were horrid, and they backed up the markets into ambush buying that was not telegraphed on the indicators, no matter what combination that one prefers.
imagine successfully managing to get the DJIA to go +83 and the S&P +11, while on the charts it looks like sideways movement, which is what most of the day has been
imagine, all the people, (ok, queue the audio track for the Beatles, on this one)
I think the best I could have done today was 1.6 profit considering that I would not take a LONG with the 1597 looking like that.
Nice trendline bounce with some real power behind it. Not a great week of trading and I would think tomorrow and Tuesday are going to be TERRIBLE. I may just take a break for a few days.
I am having a mental block on longs considering the economy. I have to let go of those outside things.
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You did really good today! I wish I saw the last trade you pointed. I saw it too late. I was just watching it moving between lines and didn't pay attention to the bars.
You are rally getting better!!! Keep it up! Stay green!!!
The trick Friday, it seems to me, was fib placement. When price broke the day's low 6 minutes after the opening bell, the bottom fib became the last lower pivot at 821.9. It occurred on Thursday. The top fib became the last high pivot at 825.8. With that fib, price tapped 76 and then rose. 377 and 610 reversed nicely one bar before the mother load takeoff up. How sweet is that? I didn't catch it...but next time!
Yes, it was nice. However, I think it took off as much as it did BECAUSE it was a holiday. The 1597 did look good, but it was right under resistance, so I didn't think it was going to do a no-retrace day. I still wonder if the FED is involved because I notice when volume drops off the price goes up without retracements.
If the FED is smart, they would let the market drop when volume is high and when volume is at its weakest buy buy buy.
My wife traded that day and got knocked out by 1 tick and then got in again at the next breakout from the pullback. She was thinking short so it was hard to get around that. I know Horst got that long.....
Hmmm. This is good. Please explain how the FED influences TF (other than a FED news event day; there was no Fed news Friday).
Trick number 2 Friday was this, IMHO. The Asian markets were up that morning. The European markets were up that morning. So I was looking for a long, knowing that TF would likely go down first (to gather the herd). The market came down and then went sideways for 6-7 minutes. That lulled me into forgetting about looking for a long. Very clever. (The herd is still thinking short because the first 5 minutes were down.) Then up we go.
If you waited for 1597 and 987 to turn up, you still could have caught that huge wave. They turned up sharply with strong V's.
Very clever. (The herd is still thinking short because the first 5 minutes were down.) Then up we go.
