BigMike, Thanks for the posting the webinar. May ask where it was posted as I didn't see it in the webinars section. Unfortunately my current inet does not like doing live webinars otherwise would not have missed it.
@FuturesTrader71, in "Phantom", POP's big rule #1 is to assume you are wrong, and get out of a trade unless the market proves you correct. This is in contrast to often-heard advice that a trade is valid until 'the market proves you wrong.' Instead of yielding control of the position to the market, POP advises that the trader stay in control of the position, and manually get out unless the market proves him correct.
From the webinars you have given, I have noticed that you typically recommend the "don't mess with your stop, let the market take you out" approach, which is about 180 degrees from what is in PoP. Since you recommended PoP, I am curious as to whether you simply don't believe in this type of approach but still find the book helpful, or whether perhaps your general advice is for newer traders who have a tendency to jump in and out on a whim, to help them avoid overtrading?
The following 6 users say Thank You to josh for this post:
Another awesome session. I picked up 3 more golden nuggets. I'm so appreciative to you and FT for your generosity of experience and integrity of time. I am truly a better trade facilitator with your influence...Rj
The following 2 users say Thank You to rjnebay for this post:
Thank you very much for all that you have given to this community, your dedication to helping traders and 'changing the industry' I have heard you refer to a risk sheet in webminars and AMA that you review before trading. I have tried to create my own but I would like to make sure I am not missing any big areas. Do you have a template of one you could share on the thread? Thank you.
The following user says Thank You to calitrader for this post:
I've watched all your videos. I like what you do, it's been very helpful. Something I'm not to sure about is the "opening swing". I've posted a 5minute chart of the CL. Would you point out what is the open swing, as you see it. It would be very much appreciated. Thank you
The following 2 users say Thank You to Upupandaway for this post:
Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).
Hope you don't mind me answering.
Please see how I understand it. FT says that OS is where buyers step in at the open and where sellers step in at the open. It is not related to time - it can be 8 seconds or 15 mins, it doesn't matter.