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post #381 of 616
6/27/12 at 4:22pm

i think we are going to drift lower during the overnight session and using the job number as a catalyst to push through this area. what you think?

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post #382 of 616
6/27/12 at 4:33pm
Thread Starter 

I don't know. I have a certain setup where I fade at the very end of the close if my requirements are met.

They weren't so I didn't trade that.

price is inside daily rotation so it's very possible it drifts back to the POC.

hope it doesn't go much lower than that. I have 15 as my bottom rotation which would put me

-12 handles...little more risk than I like. Holding for now though. 

POC support on mulitiple time frames between 17-20

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post #383 of 616
6/27/12 at 4:50pm
Thread Starter 

I'm now hedged 3 lots short /NQ at the current price

for any overnight drifts. 

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post #384 of 616
6/27/12 at 5:26pm

I'm short NQ myself and I would like to get out ASAP. These low volume hours usually work against me.

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post #385 of 616
6/27/12 at 5:32pm
Quote:
Originally Posted by Aznxdgnz View Post

Yeah i get burned on trending days. I tend to do better on ranging days. I don't read trend as well. i tend to buy too high and or short too low and get taken out by stop hunting. 

 

I try to trade the trend as much as possible but I never hit the high or low so I don't use a stop. In my experience price will come back to you if given enough time. I got burned a short time ago because I didn't realize that expiration was near. A rookie mistake.

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post #386 of 616
6/27/12 at 5:33pm
Quote:
Originally Posted by Aznxdgnz View Post

Ok will do. Don't know if you guys will be entertained by my dull life. lol. I will post in that thread when i get a chance. 

 

You must be real busy. laughing.gif

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post #387 of 616
6/28/12 at 10:28am

wow. downward movement looks pretty strong. I guess i was wrong about the drifting overnight. confused.gif

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post #388 of 616
6/28/12 at 11:15am
Thread Starter 

I took my long on the chin. I ended up hedging with /TF so instead of -800, only -200. 

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post #389 of 616
6/28/12 at 11:26am

Its good that you hedged. other wise it wouldve been uglier. 

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post #390 of 616
6/28/12 at 12:00pm
Thread Starter 

I'm looking for price to fall out of that daily up channel.

Price will need to hold 14s to stay in. 

Otherwise, I'm looking for at least 05 today.

Daily POC on my 5min chart is at 17 which would be the first

test on a reversion. 

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post #391 of 616
6/28/12 at 12:53pm

Enter short 12424 on the ym. I think it wants to retest and punch through the low.

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post #392 of 616
6/28/12 at 1:01pm
Thread Starter 

I'm short 3 lots  /ES 12.5

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post #393 of 616
6/28/12 at 1:51pm

hey Ichi, can you elaborate more on your exit strategy when you are profiting? im not sure i understand it well. 

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post #394 of 616
6/28/12 at 2:37pm

Short ZN.

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post #395 of 616
6/28/12 at 3:52pm

lol back to where we were yesterday. thank god for stops at least. i wouldve gotten taken to the cleaners..

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post #396 of 616
6/28/12 at 6:13pm
Thread Starter 
Originally Posted by Aznxdgnz View Post
hey Ichi, can you elaborate more on your exit strategy when you are profiting? im not sure i understand it well. 

 

 

I go all in, scale out. 

I typically have 2 targets and then I let the last lot ride to maximize profits.

 

simple trendline breaks

exhaustive moves e.g. you are long on a breakout and price has moved 2 or more standard deviations

away from the POC, volume is not coming in at the new level/or a new poc is being established...i'll take one off.

If it's a range trade, I will be fading price and the first target will be the poc, second will be the bottom

of the range (my custom vah or val). 

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post #397 of 616
6/28/12 at 11:53pm
Thread Starter 

Nice ZN short if you held, Bob!

 

I'm just writing some thoughts out for myself...

 

One of the keys to trading is identifying a pattern that occurs

over and over again. A pattern that goes the same way

a high percentage of the time. It's taken me 6000 hours

of trading to find just 1 of these. It's not a holy grail but

when you find something that you can count on,

the next step is to increase your size. 

 

Don't increase your size until you find a pattern you can count on.

Otherwise you are putting yourself at unnecessary risk, wasting

precious capital that you will need for the long haul. It's a ride.

A long hard ride. 

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post #398 of 616
6/29/12 at 9:21am
Quote:
Originally Posted by IchibomB View Post

Nice ZN short if you held, Bob!

 

 

What you mean if I held!  laughing.gif

 

zn.gif

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post #399 of 616
6/29/12 at 9:33am

Shorting NQ using my 2 hour that I sent you.

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post #400 of 616
6/29/12 at 10:54am

holy cow. im confused. lol soh

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