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.... since you never closed the trade and never moved your stop...

... i guess you were stopped out.....for the full stop loss of 18 points...

 

...after you explained your basis for the trade which was a swing trade based on ten point levels of support and resistance.... i could see that you were looking for a bigger move down....

 

... if you traded 2 contracts..... (exactly which contract you never stated) .... i wonder where you would have taken half off .....

.... because you didn't take any profit when you hit your first target....

 

 

Ok what the hell..:)

Short 1028 (cash) today 2 contracts 1st target 1018

2nd target 990

stop 1046.

The rally ended yesterday at 1037.7:

cool: So 1038 1028 1018... 990 support.

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.... since you never closed the trade and never moved your stop...

... i guess you were stopped out.....for the full stop loss of 26 points...

.... that's two big losses....

 

.... unless i am missing something....

... i don't see the benefit of taking the last top.... .and putting support/resistance at every ten point level below it....

.... that certainly has nothing to do with the rule of ten that i know.....

 

... were these two trades both done with the spread-betting firm you spoke of ?

 

.... if you can only trade with a spread-betting firm....then how can you even use a stop at all ?

.... you are just betting on a certain close by a certain date... or not.... how does that allow the use of stops ?

 

....once in the trade.... you can't back out in that type of trade setup....

 

Short 3 contracts at 1013. 1st target 993 2nd target 983 3rd target 973 stop 1039 for now

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a second long signal....

... this time just after the open

 

at 56.75 .... then a short signal at the highs

-------------------

 

the short failed to go all the way .... so this will probably gap up for a short on friday

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I never understood why people do all the 'clever stuff' on entries only, personally I would rather trade a random entry with a good market structure based exit than a market structure based set up with fixed target exit. (I think). Obviously things tend to improve with both.

 

Because adverse excursion determines the trade size comfort. :)

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great. send me a pm and i will fill you in.... as much as you would like.

 

today thursday.... spx 1305.53.......... 1315.53 short signal

 

es 1301.5.......1311.5 short signal

es globex 1306....1296 long signal

 

I'll start posting paper trades tomorrow if you would drop a link to a slightly more detailed explanation.

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friday... possible entries

...................

......................

.......................

first trade should not be taken because of the gap

 

last trade should not be taken..... because it is into the close

--------------------------------------------

 

3 points.... possible partial profit taking point.....(must move stop to break even)

6 points.... must ....take profit on at least half

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