Edited by Mr Dev, 02 September 2010 - 03:01 PM.
MARKET THOUGHTS & RUT TRADE
Started by
Mr Dev
, Sep 02 2010 03:00 PM
3 replies to this topic
#1
Mr Dev
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Posted 02 September 2010 - 03:00 PM
well knowing it at the time i broke discipline this morning and it cost me money not to scale out of the long position,... so there is a small mistake traders should learn from.
moving on ... im looking for another chance at what i feel are some free points higher although im in a short term short position.
that said here is how it will be managed,...as shorts are still trying exit obviously and they may get a small window tomorrow.
hopefully we do not gap up tomorrow morning because the potential is clearly there. im going to bet some gains from earlier today that we get some
needed volatility and we move slightly lower for an exit opportunity to get long again ... not sure if it will be a break even or a profitable exit but that doesn't take president
at this time as i said i feel there is more exploring what is likely going to be a complex toping formation which hasn't even started yet, that catches even the more educated technicians off guard ..
trade smarter
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#2
hitoya
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Posted 02 September 2010 - 03:11 PM
well knowing it at the time i broke discipline this morning and it cost me money not to scale out of the long position,... so there is a small mistake traders should learn from.
moving on ... im looking for another chance at what i feel are some free points higher although im in a short term short position.
that said here is how it will be managed,...as shorts are still trying exit obviously and they may get a small window tomorrow.
hopefully we do not gap up tomorrow morning because the potential is clearly there. im going to bet some gains from earlier today that we get some
needed volatility and we move slightly lower for an exit opportunity to get long again ... not sure if it will be a break even or a profitable exit but that doesn't take president
at this time as i said i feel there is more exploring what is likely going to be a complex toping formation which hasn't even started yet, that catches even the more educated technicians off guard ..
trade smarter
I like your style, always flexible and objective even though it is against your position.
#3
diogenes227
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Posted 02 September 2010 - 04:05 PM
Dev,
Just a note.
The long signal on the RUT on my intraday system, which triggered near the close two days ago and is still on a buy, is well north of two standard deviations of a average winning trade. That is a lot and it usually means the buying power for this swing is pretty much used up. So, agreed, it is highly likely we'll get at least a quick volatile sell down soon. Probably tomorrow. If not then, Tuesday.
Been enjoying your trading, and thanks for posting your thoughts.
"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
arbman
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Posted 02 September 2010 - 08:23 PM
Dev, here's a question about your strategy. So what will you do if it gaps up on the news tomorrow? Are you taking a loss and flipping long at the open or simply you would rather wait for the o/b to become a bit o/s to exit? I also see in the futures a rising triangle again that may resolve to the upside toward 1100 and given how crazy the pumping powers are at the moment... TIA, Best.
