Never day trade a Tuesday or Thursday after a trending day...
Yuck, yuck, yuck
Started by
diogenes227
, Apr 05 2018 01:06 PM
5 replies to this topic
#1
diogenes227
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Posted 05 April 2018 - 01:06 PM
"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."
#2
Venatici
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Posted 05 April 2018 - 01:46 PM
Why? Can you translate your chart?
Many thanks!
#3
diogenes227
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Posted 05 April 2018 - 01:53 PM
Why? Can you translate your chart?
Many thanks!
The blue rectangles are the price action on the ES on Thursdays and Tuesdays after trending days.
It ain't pleasant.
"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."
#4
Venatici
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Posted 05 April 2018 - 01:57 PM
Sorry, not trying to be obtuse here. Are you saying its because these days tend to be neutral?
Its a good idea for a statistical study, will try to run it later. And post results here.
Still if it is an indication for neutral day, would that not be a great trading signal? In such days you could spend the day doing inside out trades and vice-versa?
Why? Can you translate your chart?
Many thanks!
The blue rectangles are the price action on the ES on Thursdays and Tuesdays after trending days.
It ain't pleasant.
#5
diogenes227
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Posted 05 April 2018 - 02:12 PM
Sorry, not trying to be obtuse here. Are you saying its because these days tend to be neutral?
Its a good idea for a statistical study, will try to run it later. And post results here.
Still if it is an indication for neutral day, would that not be a great trading signal? In such days you could spend the day doing inside out trades and vice-versa?
Why? Can you translate your chart?
Many thanks!
The blue rectangles are the price action on the ES on Thursdays and Tuesdays after trending days.
It ain't pleasant.
Yes, anything can be traded. Selling option premium would be obvious.
But concentrating on finding the prelude to trending days, as far as I'm concerned, has been much more profitable (that's a trading anecdote, not a statistical study). This is a limited view, granted, but take note of the days after these flat sideways days. There is promise there. If this price action can continue to the close, tomorrow looks promising for a trend. Probably up, given that my daily swing signal is currently bullish.
"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."
#6
Venatici
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Posted 05 April 2018 - 02:48 PM
Thank you Diogenes, much appreciated. We need a thumbs up option or something similar for a quick reply.
