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Going to crash?


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#21 linrom1

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Posted 09 September 2020 - 09:33 AM

 

I don't like it! Instead of ABC, it could be ending diagonal?



#22 pdx5

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Posted 09 September 2020 - 11:01 AM

And there we go profit stop now 3385 for a 75 point profit!  Gotta love "trading" the market! 

What is your average dollar size of short term trades?

Mine is usually $25-50k in index funds...so I am reluctant to day trade.

If you trade size is large, I may look into short term trades.


"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#23 12SPX

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Posted 09 September 2020 - 11:55 AM

Sorry don't share that info but there is always lots to add if my original trade is going against me.  My style of trading is much different then others as I don't put stops on for possible losses as most there are looking for trends, instead I put on profit stops and if the trade goes against me I add to it until I can put my profit stop on so rarely do I have to take a loss on a trade unless I'm way out of wack on my starting trade which is rare.  Right now its been 2 months and 9 days without a loss about and its all been recorded on here.  I also don't use fancy technical indicators as they come and go.  When I started there were only a handful and the one I use for day trading is stochastics in different time frames.  Its more about my almost 40 years of watching the tape and how it moves and how the overall picture of everything may affect the market.  Other than that for my other style of trading the past 35 years is selling option premium on the S&P and that tells me the real live sentiment of the market overall, which by the way is still to bullish.  I'm so looking forward to the end of this September expiration cycle to see where the numbers land, could be an interesting October but heh is that really surprising lol!!  Profit stop now 3400 for a 90 point gain btw! 



#24 redfoliage2

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Posted 10 September 2020 - 08:44 AM

Back testing SPX 3500 .......................



#25 redfoliage2

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Posted 10 September 2020 - 09:55 AM

But if it is unable to get over 3425 resistance today a consolidation is in the cards..............