38 replies to this topic

[MoneyFriend]

Closed /NQ @ 1491, +6 on those. Held them for a week. Big waste of my time playing this as a position trade. But, I need to rollover contracts anyways. I remain bullish but am back to swinging, that is where I excel. I am still jazzed about these new highs here. The POC also closed at year highs, whatever happened in the last 30 was not bearish to me, as volume keeps creeping higher. The lack of a 1517 test today is what told me it's time to go back to swinging. This range is golden right now, a lot of money to be made just buying dips and selling the next day.

Edited by MoneyFriend, 11 June 2009 - 03:22 PM.

[Venatici]

I have followed fearless for a long time. And although I do not post and mostly lurk, I do follow fearless. Through time I did end up selecting and filtering users that are worth reading and respecting. Tea was one of the participants I respected and always looked forward to read. I am very sad to see MoneyFriend treated like if he is another Humble1. MoneyFriend unlike many, provides valuable feedback (even if I don’t agree with is readings), and TA galore. More than many, that label themselves as active contributors. He deserves some respect or at least to be ignored if you don’t agree, but not to be bashed under the veneer of unbiased opinions. MoneyFriend, thank you for sharing. You behaved like a true gentleman and took other peoples bitterness like very few would. My respect goes to you. P.S.- I was/am short. Regards, V

[MoneyFriend]

Tea, this is a true story. Ties in perfectly w/ the Supertramp video you posted.

One day I decided it would be a good idea to listen to music while trading. I put on the Album "Even in the Quietest Moments" by Supertramp.
This was an album my mother used to play all the time when I was growing up and it had been years since I last heard it. I didn't realize that at the time.
This was back when I was scalping 2 or 3 ES for 1 or 2 points each, there was a time when I was first starting out as a daytrader that I would only scalp. I would literally put on 20 to 30 round trips a day.
I was doing very well at it for about 2 months straight, and the day I stopped scalping was the same day I listened to this album by supertramp.... Something hit me and I ended up going overboard, made about 40 rt's I think and ended up seriously down, I'm talking 30% account draw-down in a one day down. That day told me that scalping was clearly not for me, and listening to mommy's old records sure isn't either .


My worst day ever:

What's really funny is half way through that day I was up a fair amount! Some of those trades are shorts although it's not made very clear.


I have since reformed (will never scalp again, ever) and now consistently make money, enough money to afford a comfortable Manhattan lifestyle!

Anyways, that's enough about me how about you?

Edited by MoneyFriend, 11 June 2009 - 03:54 PM.

[jjc]

Closed /NQ @ 1491, +6 on those. Held them for a week. Big waste of my time playing this as a position trade. But, I need to rollover contracts anyways.
I remain bullish but am back to swinging, that is where I excel.

I am still jazzed about these new highs here.

The POC also closed at year highs, whatever happened in the last 30 was not bearish to me, as volume keeps creeping higher.

The lack of a 1517 test today is what told me it's time to go back to swinging. This range is golden right now, a lot of money to be made just buying dips and selling the next day.

The last 30 minutes was bullish; IMVHO. I think TP was telling you to watch out for a top tick close, which would have been very bearish for tomorrow morning... I'm blunt,
but the good traders here don't spell out the moves. It's much more subtle, try not to be offended.

[MoneyFriend]

The last 30 minutes was bullish; IMVHO. I think TP was telling you to watch out for a top tick close, which would have been very bearish for tomorrow morning... I'm blunt,
but the good traders here don't spell out the moves. It's much more subtle, try not to be offended.

And that's fine, I was not at all surprised by how this day played out. I'm not offended, it's clear that there are a lot of people manifesting their own self doubt or frustration by knocking those whose TA suggests they are wrong, it's only human. I just try to keep that side of acting out to a minimum, If you have noticed. I am frustrated with this range, there I said it. Do I think all the bears are idiots? Not at all. I think the posters who get all uppity when different views are posted are full of themselves though. And it really bugs me when people come around to essentially say "you are wrong, i am right, you are dumb, i am smart". I could care less really where this market goes I'll just keep following whatever trend there is, it's not rocket science.

Edited by MoneyFriend, 11 June 2009 - 04:04 PM.

[jjc]

The last 30 minutes was bullish; IMVHO. I think TP was telling you to watch out for a top tick close, which would have been very bearish for tomorrow morning... I'm blunt,
but the good traders here don't spell out the moves. It's much more subtle, try not to be offended.

And that's fine, I was not at all surprised by how this day played out. I'm not offended, it's clear that there are a lot of people manifesting their own self doubt or frustration by knocking those whose TA suggests they are wrong, it's only human. I just try to keep that side of acting out to a minimum, If you have noticed. I am frustrated with this range, there I said it. Do I think all the bears are idiots? Not at all. I think the posters who get all uppity when different views are posted are full of themselves though. And it really bugs me when people come around to essentially say "you are wrong, i am right, you are dumb, i am smart". I could care less really where this market goes I'll just keep following whatever trend there is, it's not rocket science.

Nope It's not rocket science; Good luck.

[MoneyFriend]

Long again NQ from 1478.

[MoneyFriend]

Avg 1475

[MoneyFriend]

Avg 1475

Out, 1485.25
+9.75