CanOz
Home runs feel good, but base hits pay bills!
- Joined
- 11 July 2006
- Posts
- 11,543
- Reactions
- 519
So run away bear refers to a bear market? Sorry, its just new terminology for me...I guess I'm getting old.
Can, you are joking, right ?
The FTSE, and others, have been in a nose dive for a wee while now.
Ok I'm on.
It's moving.
Now to see how it reacts around 6227 low of the day.
If it breaks then happy days!
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To be honest I'm poor on the open.
First 30-45 mins, I have some great setups.
Need to develop those plays on the open for sure. I'm the first to admit!
So run away bear refers to a bear market? Sorry, its just new terminology for me...I guess I'm getting old.
Triangle forming here.
This is where I'm a little unsure what to do if it breaks lower.
I want one contract to hold and one to close today.
I'd like to hold incase this continues going south.
However this probably isn't a good time to hold a position trade. That was 2 days ago.
Will most likely close this position today if it breaks lower here and gives me a reason to exit after that.
We'll see.
It's gotta keep moving first!
hmmm... not contemplating a long lol.
Or should I go to bed!
LOL!
Probably bed, but we'll see!
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and by long, I mean a little pullback/test in an overall bearish looking chart.
Those that tradeth countertrend .......................
Those that tradeth countertrend .......................
In regard to your post above - is your dislike of limit entries purely to do with your directional assessment?
That is, if the market is rising then buy at market or a breakout but dont enter when the market is falling?
...limit order...
I use them near a well established support/resistance, with multiple bars at that level within a tight range, when I feel strongly that price will break to the opposite side of the range.
It helps me get the lowest risk fill that I can. For example maybe 2 or 3 points (maybe even 1 at rare times) instead of 5.
All my emotions were screaming at me to stay short, and telling me that anything other than short was insanely stupid given how awful things looked on Friday and that staying short was "a sure thing".
Accordingly, I closed the vast majority of my short positions (nicely profitable).
"Goddamit market. I'm right & you'd better agree with me REAL SOON now or I'm giving someone else 1, 2 or 3 points."
At least you don't let yourself stay wrong for very long which is extremely important.
Do you have enough trades entered with limit orders to draw meaningful conclusions yet as to overall R:R ratio & profitability when compared with trades entered with Buy/Sell Stop entries?
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