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#41 gameover

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Posted 12 December 2016 - 03:33 PM

the market gap down and never looking back is NIL

 

it's more like gap up, never to return to the breakout

and continue to high ATH's every single day



#42 SemiBizz

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Posted 12 December 2016 - 03:40 PM

 

 

I closed all my short positions now ahead of going into the Volatility Window...

 

If I get a new signal in that time frame, I will re-short it.

 

So that was 12:36 ET...

 

Note the low on the SOX just ahead of it?

 

That's what I'm talking about ... the tools to know when to sell and when to buy.

 

And not get STUCK waiting for more.


Edited by SemiBizz, 12 December 2016 - 03:41 PM.

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#43 diogenes227

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Posted 12 December 2016 - 03:50 PM

pennies from heaven eh?   day trading a melt up...lmao

 

Liked this tidbit on top picking from Twitter the other day:

 


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#44 da_cheif

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Posted 12 December 2016 - 03:57 PM

 

pennies from heaven eh?   day trading a melt up...lmao

 

Liked this tidbit on top picking from Twitter the other day:

 

 

lol



#45 SemiBizz

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Posted 12 December 2016 - 03:57 PM

Say what you want, it all depends on SIZE...

 

I made 3% on my trades today, that's doesn't sound huge until you look at the gross amount.

 

Works for me...

 

I'm out of here on Vacation tomorrow to Mexico...

 

And I don't have "theoretical" profits in my account that depend on where these jerks open the market tomorrow.

 

The cash is in the bank... Cha Ching.

 

Waiting for the next great risk/reward opportunity... SHORT.

 

Somebody else can take the risk of holding these lit sticks of dynamite overnight.

 

I've seen this movie way too many times.

 

They gap down and they don't come back, and every day is getting closer to that day.


Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#46 NAV

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Posted 12 December 2016 - 04:14 PM

That's right, I do... I am a TRUE DAY TRADER...

 

Sell resistance and buy support.

 

Let the suckers sit around with their money in this volcano...

 

I take the money and run, regularly.

 

I have the tools to tell me when to sell and when to buy...

 

I don't have to sit with my cash in this crap pile and take risks...

 

So there's something in these markets for everybody...

 

And there's no "right way" to trade it.

 

PERIOD.

 

So get over it.

 

 

 

Oh yeah, the swing traders, intermediate term traders and long term traders are all suckers. And Day trading is a risk free occupation. What a load of crap !


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

 

https://twitter.com/Trader_NAV

 

 


#47 SemiBizz

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Posted 12 December 2016 - 04:24 PM

Yep, that's why you switched from Cash SPX to Futures...

 

 

"Trading the Cash Market"

 

is a complete waste of time, until this market starts trending again. Most of the tactical moves are being done after-hours or in the pre-market. Those trading cash are not only missing those setups, but also can't have hard stops for protection from gaps. And adding insult to injury is no follow thru on any moves. This month has been pure garbage for those trading cash.

 

I am moving to ES.

 

 

Furthermore you said:

 

2) If there is a big overnight move a.k.a traps, you are basically screwed if you are trading cash. I took a 16 point hit on one of my trades. With ES i could have placed a hard STOP at a strong pivot and gone to sleep. The overnight shenanigans cannot get me, if i am trading futures. 

 

This month, there have been at least 4 instances, when market gapped big against both the 5-min and hourly trend. It's not unusual  in a range market. But, you are trapped if you are trading the cash in these instances. With ES not only can you protect yourself with a hard STOP, but you can also reverse before the cash opens and turn a losing position in a profitable position.

 

 

So tell me how risk-free it is to hold overnight...


Edited by SemiBizz, 12 December 2016 - 04:25 PM.

Price and Volume Forensics Specialist

Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"

Volume is the only vote that matters... the ultimate sentiment poll.

http://twitter.com/VolumeDynamics  http://parler.com/Volumedynamics

#48 da_cheif

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Posted 12 December 2016 - 05:33 PM

with

 

Yep, that's why you switched from Cash SPX to Futures...

 

 

"Trading the Cash Market"

 

is a complete waste of time, until this market starts trending again. Most of the tactical moves are being done after-hours or in the pre-market. Those trading cash are not only missing those setups, but also can't have hard stops for protection from gaps. And adding insult to injury is no follow thru on any moves. This month has been pure garbage for those trading cash.

 

I am moving to ES.

 

 

Furthermore you said:

 

2) If there is a big overnight move a.k.a traps, you are basically screwed if you are trading cash. I took a 16 point hit on one of my trades. With ES i could have placed a hard STOP at a strong pivot and gone to sleep. The overnight shenanigans cannot get me, if i am trading futures. 

 

This month, there have been at least 4 instances, when market gapped big against both the 5-min and hourly trend. It's not unusual  in a range market. But, you are trapped if you are trading the cash in these instances. With ES not only can you protect yourself with a hard STOP, but you can also reverse before the cash opens and turn a losing position in a profitable position.

 

 

So tell me how risk-free it is to hold overnight...

with the proper tools u can do it......how much of the last 5 weeks have you captured



#49 NAV

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Posted 12 December 2016 - 09:46 PM

In my last 15+ years of swing trading the ES and SPX, there have been hundreds of gaps that have gone against me. So What ? I have one or two bad months in a year. That's part of trading. There is no escaping it. If you are nervous to hold a position overnight, why get into the business of trading in the first place ? There is risk in this business all the time. You gotta manage it. There is nothing like risk-free trading. It's a myth. It's a lie.


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

 

https://twitter.com/Trader_NAV

 

 


#50 tommyt

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Posted 12 December 2016 - 09:56 PM

Semi, you talk a big load of long term bear...and day trade, I'll try and get it. Yes, there are plenty of ways to skin a cat, but anyone here would have you figured for holding short for the end as we now know it...empty buildings in China, suckers holding the bag all the way up, debt, the Salomon Islands falling in. Oh well.