If you have time for this.

[Yigal]

Hi everyone,

In this thread I would like to ask more experienced traders to point out to my mistakes, I've started trading futures recently and your help will be truly appreciated.


These are my "bad" trades for today; the reasoning is that both times pivots were broken on a low volume so I tried to fade it. Was there anything that would indicate to you that this was a beginning of a downtrend?

[weiwei]

Yigal, can you post a pic and be more specific before one can give out his opinions.

weiwei

[TinGull]

Hi,

One thing you could have watched for was the daily charts starting to churn. Yesterdays volume was increasing and the range was VERY narrow. This is indicative of people selling into strength. That, coupled with the the higher prices on lower volume was a warning signal.

With the strength of the downthrust...definitely wasn't looking for long trades.

[notouch]

Yigal, you usually get a better response if you use the title to describe your post instead of just "If you have time for this" which could be anything. As for today's trading, your problem may be that you're seeing pivots as a Holy Grail but to be useful they have to be part of holistic approach to trading. Yesterday we had a very narrow trading range so the pivots were very close together - too close together to provide meaningful support. Breakouts often follow narrow ranges and this was especially likely today because of the FOMC minutes.

[brownsfan019]

W/o seeing any charts or anything, here's my suggestion - don't try to catch falling knives grasshopper.

[cooter]

Well said!

[Yigal]

	Quote:	weiwei
	Yigal, can you post a pic and be more specific before one can give out his opinions. weiwei

Do you not see the attached chart?

[brownsfan019]

	Quote:	Yigal
	Do you not see the attached chart?

There's nothing attached to this message.

To be sure, check your post after it's on the forum and see if your attachment is there. As of now, nothing is there.

[Yigal]

Weird, I do see my attachmet.Here it is:



Anyway:

[TinGull]

Also, one other quick observation on the first one...why would you try to go long if you've got a blue TTM with a red divergence signal on it? That's a short signal.