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#1 NAV

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Posted 09 February 2011 - 04:01 PM

Reversed my shorts at 1318 to longs at 1320 near the close. 2 point loss on the short trade. :bye: P.S. I will let the night monkeys work towards a gap-up now.

Edited by NAV, 09 February 2011 - 04:06 PM.

"It's not the knowing that is difficult, but the doing"

 

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#2 fib_1618

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Posted 09 February 2011 - 04:09 PM

It's always tough going against the prevailing tide. Fib

Better to ignore me than abhor me.

Wise men don't need advice. Fools won't take it. - Benjamin Franklin

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#3 NAV

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Posted 09 February 2011 - 04:18 PM

It's always tough going against the prevailing tide.

Fib


Thanks for the wisdom :P

"It's not the knowing that is difficult, but the doing"

 

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#4 andiron

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Posted 09 February 2011 - 04:23 PM

It's always tough going against the prevailing tide.

Fib

wonder why people keep doing it?

#5 TechMan

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Posted 09 February 2011 - 04:23 PM

Reversed my shorts at 1318 to longs at 1320 near the close. 2 point loss on the short trade.

:bye:

P.S. I will let the night monkeys work towards a gap-up now.


NAV - I'd have kept the short positions.

Good trading.

#6 DrWu

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Posted 09 February 2011 - 04:27 PM

Any technician that trades the higher frequency charts can easily see the trade that Nav made as being perfectly setup and executed. Fib's comments imply that the trade was not smart. Perhaps I am reading Fib's comments incorrectly.

#7 vitaminm

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Posted 09 February 2011 - 04:30 PM

Since Dec 1 few hourly sell signals failed to derail daily up trend! will night monkeys let it derail this time?
vitaminm

#8 DrWu

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Posted 09 February 2011 - 04:41 PM

Since Dec 1 few hourly sell signals failed to derail daily up trend!
will night monkeys let it derail this time?


Hi Vitaminm,


While I remember that Nav often uses an hourly chart, I don't consider that time frame to be high-frequency.

Later,

Wu

#9 fib_1618

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Posted 09 February 2011 - 04:50 PM

Fib's comments imply that the trade was not smart. Perhaps I am reading Fib's comments incorrectly.

Not a question of being smart or not. It was a general statement based on the total package. Even in a rip tide there's the occasional eddy. Sometimes you catch, sometimes you don't.

wonder why people keep doing it?

Day traders play by different rules. There will always be opportunities to go against the bigger tide, but it really depends on high deep the waters are when you go into the pool.

In the bigger context, it's human nature to try to "outwit, outplay, and outlast" the competition even if the odds are against you....it's just the way we're wired.

Fib

Better to ignore me than abhor me.

Wise men don't need advice. Fools won't take it. - Benjamin Franklin

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#10 vitaminm

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Posted 09 February 2011 - 05:13 PM

I don't either!

SPX..S@1313..........1300..........1290 ..........as posted on other thread!

http://barchart.com/.....F09/2011#jump




Since Dec 1 few hourly sell signals failed to derail daily up trend!
will night monkeys let it derail this time?


Hi Vitaminm,


While I remember that Nav often uses an hourly chart, I don't consider that time frame to be high-frequency.

Later,

Wu


vitaminm