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gosu
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Everything posted by gosu
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Hi Tom, Sorry for my short hand...i've been playing to position for the ST p2 since last week on the nq...a hold more than one RTH session this morning's reversal looked like a good start...and the retrace of it was nondom...which is a hold for me...but the slow grinding moves are the trickiest and a higher low is now in on the 60m...so wash for now hth i've got this as a p3 here on the day....back in short for at least a partial resumption and monitoring for a failure to traverse now...
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washed this trade...gave back some nice profits... back into lateral
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ST p2 retrace has begun
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It's more of the same from Rande. The better question is why anyone should think Jack should be able to extract from the markets simply "after studying trading and becoming proficient in his platform and methodology." It is easy for a person who has no interest in learning to trade to gloss over the one thousand and one details that go into actually doing it. He isn't consistently following his "trading rules" regarding entries and exits because deep down he knows that his rules are arbitrary and don't give him any advantage over the counterparty taking the other side of his trade. Moreover, his fear is rational and is trying to protect him from the perceived dangerous situation (to his account) every time he puts on a trade while being at a disadvantage. The fact that it makes no sense to him why he is fearful and why he keeps losing just reveals how little he knows about what it takes to extract. It is obvious Jack is clueless about what it takes to succeed. Even worse for him, he does not know how to proceed to begin learning about what it takes to succeed and so he is susceptible to purported remedies for his broken mind that just lead him further astray from knowing what it takes. Jack can't trade because he lacks the Knowledge, Skill, and Experience. Period. Rather than focusing on the "state of mind," Jack should focus on acquiring (1) rudimentary Knowledge necessary to get operational, (2) basic Skill to move in and out of the markets safely that leads to (3) successful Experience that builds confidence. Nothing in that description reveals that Jack has acquired the Knowledge, Skill, and Experience that helps him to extract.
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Missed the close. Stopped out and sidelined. This is what I KNOW: ST is in lateral modus.
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indicies are in vdu/centering just outside the day's BO area.. a lack of a failure to BO on the day means i'll look to sideline on this ST p2 trade because i am uncertain which way the centering will be resolved.... therefore, stop at 2531.75....stepping out for a quick lunch
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a couple of washes from the earlier entry... this is just picking up pennies in a tiny account...the main point is to maintain good trading habits while improving the position on the ST trade..from 2533.50 to 2534.25 still outside the BO area...so the intraday is still long...i'll wash the ST trade and go flat if this continues past midday... the lack of vol makes this untradeable for me intraday past the first 2 hours in the AM...
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just to update on the nq ST p2 trade: resting order got filled last night at 2530....premarket washed at 2518.50... short 2533.50 a few minutes ago...will update ST position at end of midday today the open looked bullish premarket on higher low and the indicies are in ST lateral mode...I anticipate a BO failure as vol starts to dry up going into midday.... how the rest of the day goes today will be very informative of the ST trend
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Maybe you are the one who missed the point, as you seem to have gotten hung up on the tongue-in-cheek part of my comment. The point of the original poster was to respond to the question asked by another if he had started trading yet. The gist of the response was why should he trade when he lacks the "necessary passion to drive the engine of trading." I read this to be the equivalent to the hackneyed phrase "passion for trading," which he seems to say is a requirement for success. My opinion is that this phrase is vague and useless when it comes to trading. I added a tongue-in-cheek comment about reserving passion for sex and evidently that got your focus. You draw a distinction between being passionate about "what" you do versus "who" you do as if that adds anything to clear up what passion for trading means and whether it's a requirement to trade. In any case, I do get the sense that you feel you are passionate about trading. You also state that you get screwed by trading. Perhaps, then, having a feeling of being screwed by trading is required to have a passion for it.
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es just broke 60m short which was telegraphed earlier on the 15m... obviously this disappoints people looking for a test of friday's hod.... volume is still in DU which means....wake me when it's over
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The problem with es currently is the anemic volume. I've rarely traded es after the AM since the beginning of the year. At this moment, on the 15m BO, volume is coming in under 15K...for me that's just not a tradeable BO intraday.
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i'm ok with this entry...i have a resting order for another contract at 2530, friday's hod.... since this is playing ST p2, i'll leave it here... looking to play es long for pm until friday's hod
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washed at 2518.75...looking for reentry short a short near friday's hod would be ideal.... short 2524.50.....
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short 2520.25 for ST p2...will play the retrace over several days i'll wash and reenter short at a better entry throughout midday if needed
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Hi Cory, I could post my charts but they would look like gobbledegoo to anyone but me. Years ago I came across one of my charts on this site that I had posted somewhere else and I was amused to see it used as an example of being too cluttered and how not to trade by a person who had gathered a following with his Wyckoff dissertation that he ended up peddling as an ebook for a few bucks. In any case, there's nothing complicated about what I said that you can't pop up a chart and see for yourself. Get a daily chart of the stock indicies and go back to mid-December and mark that as the beginning of the current IT move within which are the ST moves. Draw some lines to help you visualize the collection of bars as the current state of the market. What I see are the words "change coming up." People on TV are calling the current move the "January effect" which is based on looking back on previous Januaries, but I know that January was informed by what occurred in the immediate past before January and had nothing to do with the fact that a month beginning with the letter"J" and ending with the letter "Y" is statistically bullish. I hope I was responsive to your request.
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Why don't you set me straight? I'm all ears.
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ST - Short Term IT - Intermediate Term p2 - point 2
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I never understood what was meant by the use of the word "passion" in regard to trading. The first time I heard the link between passion and trading was in a course I took a long time ago, where the instructor said something like, "in order to succeed, you have to have a passion for trading." Now I hear the phrase used all the time, by vendors and consumers, and even on a TV ad I saw on CNBC. Personally, I think "passion" ought to be reserved for sexual relationships with the opposite sex (or the same sex if you lean that way). With regard to trading, I think a dispassionate attitude is best.
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This is what I KNOW: The indicies are at a confluence of the ST p2 and the IT p2. Therefore, up next is a sizeable retrace spanning longer than one RTH session. I anticipate it will be next week (not necessarily Monday), but this is not a prediction and I am not in charge of the timing of it. My role is to monitor real time for precise timing of actions and minimizing risk. Good trading.
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wash 2525.75....next week it is
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I'll look for a wash in the 2526.25 to 26.75 area if it gets there...i'll decide on hold into weekend near eod.
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short 2526.25 washed a couple trades to get back in the groove..... What I know...this is a ST p2....the only question is do i enter today or next week....
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wash 2526.75......feeling a bit off emotionally
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short 2526.75......still playing ST p2
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a sure sign of shitty stop placement: when you get price improvement when it gets triggered.