Patuca

Time for sleeping..good night...:sleep:

Ok capt Bob..."there is always a right time to do the right thing" or "the time is always right to do what is right" Dr. King it was time for shorting not longing.... It was time for trading not playing golf. sleep can wait too...you snooze..you lose.... do you think Dr King studied W.D.?

Capt Bob did you trade the gold ATM machine today or were you too busy looking at the RSI? just wondering...:)

Thanks...rarely do i ever hear those words....i am feeling much better now!

thank you...seldom do i get positive any comments ...i feel little better already..

For those of you that are eyegate instead of eargate people (possibly suntrader??) :rofl: Well here is a picture..figure it out...

I gotta go but that is how i trade ranges..mostly scalping..of course depending on size of range top to bottom..some you scalp and swing a portion. Total points extracted on this scalp. 1 pt on 1/2 of position..3 points on second half..that can be a fairly good in short time if one is say doing 6 to 10 lots at a time..even at 2 lots it is $ 200.00. See.. here we go again..after trade ...race back to the top of range and now racing back down...again...ATM machine...just pop the card in ..have stops in place ..drink some of capt Bobs coffee and relax....if machine does not dispense cash soon then very quickly remove card and wait and see what happens. It is very difficult to predict direction in scalping as things happen too fast and when you are old you cannot think fast...therefore it becomes easier to trade typical "range behaviour" in scalping always putting stops in just in case you are wrong and the markets makes the breakout which at some point in time it always will. Strategically the market is constantly cycling between trends and ranges..tactically.. many are the means to extract dinero or lose dinero in the strategic context in which price finds itself..in anthropological terms you could call this the contexualization of price :rofl: :rofl: Gotta go... Granted scalping is potataoe chip money (unless you do it in large size)...If you want some more potatoe chip money you could race over to steve46 thread as he is constantly reverting back and pulling money out with his little own ATM machine..nothing wrong with that..with size you could make a load of dinero...then take off and go fishing... P.S. The coffee atm is at the moment broken down for repairs as it had a breakout. The gold ATM has worked quite nicely today..... P.S. do not do what i say do and never do what i do....and remember in my dipstick opinion es is bearish and gold is bullish. up is down and down is up.... :ciao::ciao:

Possible long did not pan out so. Ended up being gunning stops on a failed breakout. That low close ...high vol ...on 9:35 failed breakout bar was the signal to reverse ones thinking to short and look for a shorting entry. In scalping always have stops in place..they are beloved for scalping...range bound scalping short at top..long at the bottom...not for the weak hearted. Typical range behaviour ...many times..race to the bottom..reverse...race to top..traders thing it will breakout...breakouts fail 70% of time...you cannot determine when the breakout occurs until it happens. It can be on either side of the range...you can make an educated case but the odds are against you as in failed breakout i mentioned above.

Out of second 1/2 at 1674.50

Out of 1/2 stop moved to 1676.50 for rest of position

Now short for scalp 1677.50 for 1 point 1/2 position

Possible long in es1677.25 on breakout...for scalp

..well i guess we all make mistakes...we all have to pay for our mistakes...well most of the time...however...before the story is over he may well end up vindicated...time will tell

see what happens to bears in a bull market?

LOL LOL... no bass today..maybe in morning..good day in the ES scalping and swinging intraday...makes up for no fish...

LOL LOL... no bass today..maybe in morning..good day in the ES scalping ad swinging intraday...makes up for no fish...

in that case i may have to pull the plug on the whole thing as i will never earn respect...never have..so what makes me the think i'll start now..i ain't gonna bottle feed the babies you know...bunch of milksops...:rofl: :rofl: time to go fishing before i get

P.S.try as i may i can never seem to get to the wizzard level on this forum..siuya is there..db is there..don't i deserve to be there also? what about mits? what about you? what about miss LSTTT with her havard english..she should have been leapfrogged directly to the wizzard or master level...her musings are to deep for me...if i could just get there i would "feel" better about myself... :confused: Look at jaybird over on http://www.traderslaboratory.com/forums/beginners-forum/16801-i-studied-trading-10-minutes-then.html he only studied 10 min and is trading..he must be a genuis?? but they have him at 5%..whats wrong with that picture?

I would actually consider the sideways move as being per the red box i have drawn on your chart. I would short then take profits on 1/2 of position at or near bottom of your defined range and swing rest to as close to the bottom of red box that i perceive it will go....then reverse. however, if it declines to the bottom of your range and appears that it will not continue to decline then i would get out of all positions. "It does not matter where price goes or what prices does..what matters is "how" price did it." P.S. Keep in mind gold is bullish.

Capt Bob, IMDOTNOLT (in my dipstick opinion that no one listens to) the only thing to do on gold is short at top of range and cover then reverse at bottom..i.e. Like another ATM machine. sure, sooner or later it will breakout but one must keep in mind 70% or so of breakouts will fail ...hence if one uses the dreadful SL's then one must put it out if reach of the stop runners so the failed breakouts do not separate ones position from ones account. of course, the time will come (W.D....time price..symetry) when the breakout will be real. at that point in time one's stop gets hit ...at which point one simply has to double up and reverse and will soon be in the money again..quicker than you can spit... i am thinking of going fishing this evening on the tallapoosa river..i need to catch some big bass..i do not think fedex can get them to you in time so i suppose you may have to eat green mangos and salt but be of good cheer for that too shall pass and things will get better...

If you don't use stops then you don't have to worry about remembering to move them...:rofl:

irrational exuberance..shall soon pass...good time to think about adding to my short position.... Look at coffee...as i predicted it has bounced around between those two numbers i mentioned in my previous post and has been doing so for several days...this is the liquid gold...did anyone listen? no...because no one listens to patuca...this little ATM machine has been spitting out the cash...:helloooo: :helloooo: :helloooo:

LOL... The words of a true friend...thank you....i don't have many you know...imo one must never trade to preserve capital...one must only trade the direction of the market...the money will take care itself...it is only money..here today ..gone tomm...since the market is bearish i remain short....market needs a little wiggle room...i shorted a tad bit early...no problem..all is well..she will plunge south...i will be raking in the $$$ and putting on more positions as the plunge takes place.. When we pass your stop loss i'll say hello..then goodbye... One must be .20 or maybe .50 short of a dollar in the brain dept..and have a brave heart (some may say a foolish heart) and be willing to put up the margin to do what i do....secret code is still short..if it tells me to jump out i will do so immediatley after a taking a crap in my pants.. Wish me luck on fishing i need to catch some big bass...

Gotta run..i shall return..if for nothing else but to remind you guys that all things are bearish except gold amd silver..

absolutely correct...you did the right thing...you bite the bullet..you did it "your way". nothing wrong with that...i am always wrong in the markets.. when it goes against me i don't get out fast enough and when it goes my way i don't have enough contracts on...most of the time :rofl: however, ...there are those days my friend....we shall see...it ain't over yet....the code is intact...the play is on..i am going for a homerun.....at least wish me luck...i may need it:haha: