44 replies to this topic

[NAV]

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

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

[fib_1618]

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

[NAV]

It's always tough going against the prevailing tide.

Fib

Thanks for the wisdom

[andiron]

It's always tough going against the prevailing tide.

Fib

wonder why people keep doing it?

[TechMan]

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



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

NAV - I'd have kept the short positions.

Good trading.

[DrWu]

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.

[vitaminm]

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

[DrWu]

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

[fib_1618]

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

[vitaminm]

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