8 replies to this topic

[Mr Dev]

More of the same no real update,, as we trade up thru a liquidity THURs and a Feel god Friday. Still expecting a move as much as 1-1.5% to try and turn the NDX weekly positive by tomorrow. I'm starting to look 2-3 weeks out,.. I didn't intend to trade this position this way but interesting things are developing. Trade safe.

[NAV]

More of the same no real update,, as we trade up thru a liquidity THURs and a Feel god Friday.

Still expecting a move as much as 1-1.5% to try and turn the NDX weekly positive by tomorrow.

I'm starting to look 2-3 weeks out,.. I didn't intend to trade this position this way but interesting

things are developing.

Trade safe.

Mr Dev,

Are you planning to stay short thru this 1-1.5% move you are expecting ?

[Tor]

Trade safe Dev. I see some interesting moves too, although I stick with my view that it is impossible for the market to fall this week on account of put buying. Will see. |Cheers.

[Mr Dev]

Are you planning to stay short thru this 1-1.5% move you are expecting ?

dah- ya ...because it's half over !

Some folks are focused on trading a special index today,...but they are all up nearly the same .70%

at this time,.. this to me is a confirming signal of something.

Trying to trade out of your next best position is stupid in my opinion,,..but traders still doit.....getting themselves

caught between long or short,...and later a rock and a hard spot.....thus waisting gains by either giving back

what they will likely be buying again at a higher prices, or ....

entering into something so late ...that they have to exit the position with ,,...for most traders,....another loss.


The biggest drawback of these actions for most ,...pro as well,...is under this trading scenario I've

mentioned,.. more pressure is put on traders by themselves to re-enter the next best position before

the next best move, and pressure while trading is counter productive.

Why the pressure?

Because they can't come to grips very easily,...going back to something,..they just exited,... at least not

easily ,...and not to soon. This is because the memory is boldly imprinted with the reason for their last exit

and so still fresh in their minds,.....to battle with,...making it hard trying to convince themselves they should

now override all that information, and re-enter the position they just convinced themselves to exit.


Now that is my real perception,.... of how a trader thinks.....without even realizing it!

Now time for my work-out. bb in 1 hour


best

Trade safe Dev. I see some interesting moves too, although I stick with my view that it is impossible for the market to fall this week on account of put buying.

Will see.

|Cheers.

Thx and I would expect nothing less for someone who as seen your rewards for being so bullish

Edited by Mr Dev, 13 June 2007 - 10:16 AM.

[rkd80]

Nicely put Dev, very journalistic

I guess I am trying to determine the danger of continuing to play the bear case. Are we *really* in a position to be forging that much ahead? Is this not just a great opportunity to re-enter shorts for those who left early yesterday? On a more personal level, what has to change for you to abandon your 'short to next week' outlook?

Are you planning to stay short thru this 1-1.5% move you are expecting ?

dah- ya ...because it's half over !

Some folks are focused on trading a special index today,...but they are all up nearly the same .70%

at this time,.. this to me is a confirming signal of something.

Trying to trade out of your next best position is stupid in my opinion,,..but traders still doit.....getting themselves

caught between long or short,...and later a rock and a hard spot.....thus waisting gains by either giving back

what they will likely be buying again at a higher prices, or ....

entering into something so late ...that they have to exit the position with ,,...for most traders,....another loss.


The biggest drawback of these actions for most ,...pro as well,...is under this trading scenario I've

mentioned,.. more pressure is put on traders by themselves to re-enter the next best position before

the next best move, and pressure while trading is counter productive.

Why the pressure?

Because they can't come to grips very easily,...going back to something,..they just exited,... at least not

easily ,...and not to soon. This is because the memory is boldly imprinted with the reason for their last exit

and so still fresh in their minds,.....to battle with,...making it hard trying to convince themselves they should

now override all that information, and re-enter the position they just convinced themselves to exit.


Now that is my real perception,.... of how a trader thinks.....without even realizing it!

Now time for my work-out. bb in 1 hour


best

Trade safe Dev. I see some interesting moves too, although I stick with my view that it is impossible for the market to fall this week on account of put buying.

Will see.

|Cheers.

Thx and I would expect nothing less for someone who as seen your rewards for being so bullish

[denleo]

Excellent post Mr. Dev!!! I am saying that not because I agree with your market outlook, but because what you said applies to most traders most of the time. Denleo

[dharma]

yes, this is what makes trading so difficult! dharma

[NAV]

Are you planning to stay short thru this 1-1.5% move you are expecting ?

dah- ya ...because it's half over !

Some folks are focused on trading a special index today,...but they are all up nearly the same .70%

at this time,.. this to me is a confirming signal of something.

Trying to trade out of your next best position is stupid in my opinion,,..but traders still doit.....getting themselves

caught between long or short,...and later a rock and a hard spot.....thus waisting gains by either giving back

what they will likely be buying again at a higher prices, or ....

entering into something so late ...that they have to exit the position with ,,...for most traders,....another loss.


The biggest drawback of these actions for most ,...pro as well,...is under this trading scenario I've

mentioned,.. more pressure is put on traders by themselves to re-enter the next best position before

the next best move, and pressure while trading is counter productive.

Why the pressure?

Because they can't come to grips very easily,...going back to something,..they just exited,... at least not

easily ,...and not to soon. This is because the memory is boldly imprinted with the reason for their last exit

and so still fresh in their minds,.....to battle with,...making it hard trying to convince themselves they should

now override all that information, and re-enter the position they just convinced themselves to exit.


Now that is my real perception,.... of how a trader thinks.....without even realizing it!

Now time for my work-out. bb in 1 hour


best

Trade safe Dev. I see some interesting moves too, although I stick with my view that it is impossible for the market to fall this week on account of put buying.

Will see.

|Cheers.

Thx and I would expect nothing less for someone who as seen your rewards for being so bullish

I agree with most of what you say. But i think a bit differently and trade a bit differently. I am primarily a confirmation trader and i need a swing high or low as my stop points. When i trade without stops, that's when i suffer the greatest pressure and that's when i have suffered my greatest losses. One needs to trade the style one is most comfortable with. You have amply demonstrated your methods here and i have no doubts that you been very successful with your style.

Edited by NAV, 13 June 2007 - 10:59 AM.

[Mr Dev]

I agree with most of what you say. But i think a bit differently and trade a bit differently. I am primarily a confirmation trader and i need a swing high or low as my stop points. When i trade without stops, that's when i suffer the greatest pressure and that's when i have suffered my greatest losses. One needs to trade the style one is most comfortable with. You have amply demonstrated your methods here and i have no doubts that you been very successful with your style.

Hi NAV,

I totally agree,..with you.

Be true to thyself. But I mentioned yesterday, as traders we don't want to misplace trust in ourselves either.

This requires an honest self evaluation of ones skills or TA.

I know you trust your work and I'm sure it pays you more than not.

As you mention style,... finding the right style for anyone is important. Then trusting that style is equally important.

There are as many different contrasting styles as there are ways to pull money out of the markets.

For example,.. in my style I DON'T focus on STOPs I don't use STOPs ,.. however, one who does and then fails to obey them could likely have a bad losing day.

I've learned that stops can be hit,.. and then the market turns back into the move that one was positioned for.

This was exactly my point above,.. when traders put themselves under pressure with regards to the next best trading position.

I imagine a traders would think "since my stop was hit,..I must of been wrong"...but that isn't frequently

the case at all....maybe the stop made sense with some line in the sand,.. but there was simply to much or

to little inflow into the market that hour! Thus creating the hit on the stop,... what happens next in price

action is totally irrelevant to ones stop that was just hit.

Now if the market has a lot of stops together somewhere,.. then that may be a different story to what happens next.


As mentioned,.. I DON'T feel the need to place STOPs,. they act just like targets for traders and most

traders have trouble when it comes to pin pointing and exact number most of the time...including myself.

So...some my be wondering what I prefer,.. and here it is. I prefer to take,... turn signals,.. while respecting

the trend signals.

Many traders understand this concept and probably think they are trading this way too,.. but they are NOT.

Not if they are using STOPs in front of signals and many many many traders do.


What NO stops,... who can imagine a trading philosophy like that..... I can and do.

Let me expound quickly to ease the questions starting to form in everyones mind.

I trade the turn signals,...A STOP doesn't know where that is or when it is coming.

The turn signal will happen when conditions are right and when it is ready.

Simple right,.. pick your time frame and try it !

Don't expect great things at first,.. as I ask,.. what professional talent is perfected on the first try.

I further analyze each Turn-signal within a Trend-signal and determine whether I should take it or if

I should wait....this part requires excellent technicals skills beyond reading the turn-signal chart.

And over the years,.. you start to see it all work over and over again.

See trading is my real job.

Sorry to ramble NAV,.. I just slipped into giving something more for any newbies out there.

Trade well

Edited by Mr Dev, 13 June 2007 - 11:34 AM.