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12-18-2014, 08:58 AM
(This post was last modified: 12-18-2014 09:00 AM by Ice Glass.)
Post: #51
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RE:
I just went and looked at your post #22. Yeah I really trade on the first reversal period, all I do is watch after the first 20 minutes the market starts to move in it's real direction for the morning (but I never heard about reversal periods until you linked to it), I wait for the movement to speed up then I enter and aim to pick up just 30-35 points (on DOW). I'm sure there are better ways to do it but that's what I'm working with right now.
As for your chart, on the reversal period, how did you know that it wasn't going to reverse downwards? That's how it looked like at 9:50- 10:09 with the rally stalling and sitting at the top of the Fibonacci and resistance line, in the end it looks more like a continuation than a reversal? That's what's confusing me about reading charts, and why I do like I said of just riding the morning wave while it happens (but sometimes it turns back on me as soon as I enter lol). [img]http://postimg.org/image/dv4f4vufx/full/[/img] [hr] Your chart http://postimg.org/image/dv4f4vufx/full/ |
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12-18-2014, 10:52 AM
Post: #52
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Any new coupon please?¿
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12-18-2014, 11:01 AM
Post: #53
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ok give me a few minutes to try and explain it on that chart!
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12-18-2014, 11:26 AM
(This post was last modified: 12-18-2014 11:35 AM by gixxer2012.)
Post: #54
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ok here is my explanation to you, the best i could diagram on the chart1
[IMG]http://i57.tinypic.com/fw6mj7.png[/IMG] [hr] Some times breakoutss just keep going, if it don't pull back i don't chase it. I did it in the past and was not worth it, got in on the next pull back only to turn not much later. So only the first break out pull back. And some times they break out pull back and go down and make new lows so beware. Its a risky set up break outs! not my favorite unless i got the HH and i see the dow and nasdaq green together with their numbers rising, like a tide effect! go with the flow.. help reassure my stress level ;) |
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12-18-2014, 02:53 PM
Post: #55
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Anyone please share course
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12-19-2014, 02:57 AM
Post: #56
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Thanks Gixxer, that's good of information, I don't pretend to understand everything you've shown me but I'm sure with time I'll get it. Right now I'm practice trading on demo account, markets are really weird right now it must be Xmas, I'm losing money but lucky only on demo account not real stuff. I'll go back to real money in the new year. Got to understand these fibs and reversal times better. Thanks :)
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12-19-2014, 03:38 AM
(This post was last modified: 12-19-2014 03:49 AM by gixxer2012.)
Post: #57
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I wont place a trade unless its at about the reversal times, i follow the manipulation of the market if people don't believe it look back, the reversal times have repeated for ever year after year like clock work, they are not always perfect but will happen a high percentage of times! so if i have a set up at that time i follow through! it's really what they call trading naked no indicators, they lag! so i just use what traders are looking at, like a support or resistance line, you will see it pierce it to take out the stops and retrace back and take off, on bounces. Or the same on a fib levels it may hit 38 pierce to 50 where you get that bullish dragonfly doji and reverse like below. I like when say you use the fib on two pivots and you have a 50 and a 38% lined up and a S/R right net to it and reversal time coming, i will look for a turn on that point coming.
[img]http://i62.tinypic.com/15nm62g.jpg[/img] [hr] p.s i never place my orders ahead of time with the limit order and stop, you will get picked off like in the dragonfly, see it all the time! I only place a one click limit in ninjatrader then i drag my stop, and only seconds before the say green bar will close using a countdown timer. |
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12-19-2014, 04:07 AM
Post: #58
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oh 1 more... I keep it simple don't do any stocks no 1k in symbols, just 3 charts futures es ym nq to watch.Take care!
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12-19-2014, 11:41 AM
Post: #59
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Don't waste your time... I got over a decade and half of trading experience. Very few make it to the to top of Everest and the same principle applies here. All methods will work in a certain period, but over the test of time.. . Invest in a index fund and forgetitabout it. Keep in mind, this stuff might work in a bull market but in a bear market it probably wont and markets can turn on a dime
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12-19-2014, 12:24 PM
Post: #60
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bear is fine? up down just sideways i stay away... but you do have to pay your dues, i did! but the stress is to high for me, so i only will do it if it's my perfect trade or screw it wall street will beat you down the longer you stay in, did you ever go to a casino there are no clocks because over time they get their money back. always happen to me if i tried to do it to long.
But it is very hard and i lost a lot of $$ before i learned and got better, i think it's better to get a broker lic and work for a firm and sell accounts and get commissions. you will make moey that way ;)  |
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