Edited by NAV, 25 July 2007 - 01:47 PM.
Countertrend buy
Started by
NAV
, Jul 25 2007 01:46 PM
19 replies to this topic
#1
NAV
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Posted 25 July 2007 - 01:46 PM
Finally, i have a countertrend buy signal on 30-min ES and ER2 at 2:30 Est. Not just a divergence, but a buy. Since it's countertrend, it's low odds. I am taking the signal with a small position.
Hourly signals are more reliable than 30-min. If we don't crap out between now and 3:00 Est, we would also have a hourly buy signal (countertrend, of course).
#2
greenie
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Posted 25 July 2007 - 01:58 PM
Big fat bull avatar....countertrend buy - that too low odds, I am confused.
It is not the doing that is difficult, but the knowing
It's the illiquidity, stupid !
It's the illiquidity, stupid !
#3
NAV
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Posted 25 July 2007 - 02:04 PM
Hourly buy confirmed at 3:00 Est.
Good luck trading folks.
When i posted the signal, ES was trading at 1517. That was a quick 10 pointer for those who took the signal.
#4
ChickenLittle
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Posted 25 July 2007 - 02:05 PM
YIPPEE KI YAY 
History always repeats . . . only the details change.
#5
denleo
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Posted 25 July 2007 - 02:11 PM
Nice one NAV. I bought a few contracts and sold them 10 minutes later for a 5 point profit. Should have kept them.
Denleo
#6
hiker
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Posted 25 July 2007 - 02:20 PM
like NAV ideas cause it is about making profits NOW
btw, NAV IWM just touched 81.10 area...perfect hold of the 200sma so far...I am gone here.
going into AAPL tonight mostly flat and ready to trade
bot 50K shares TASR today 14.20 to 14.37..holding them
Edited by hiker, 25 July 2007 - 02:23 PM.
#7
NAV
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Posted 25 July 2007 - 02:20 PM
Big fat bull avatar....countertrend buy - that too low odds, I am confused.
I post a buy signal and post it real-time. What is it that you don't understand ?
Since it's a countertrend signal, it's low odds. Since it's low odds, good traders take less than normal position size and also one should be quick in taking profits as it's a countertrend signal and can reverse on you anytime.
As for the bull avatar and all that bull-bear crap, don't waste my time.
Edited by NAV, 25 July 2007 - 02:22 PM.
#9
NAV
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Posted 25 July 2007 - 02:26 PM
ES 1529 and ER2 818 - good area to book some profits. I took some off.
The rest i am keeping overnight, unless i see some ugliness in the last 30-min.
Edited by NAV, 25 July 2007 - 02:28 PM.
#10
Knight09
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Posted 25 July 2007 - 02:28 PM
ES 1529 and ER2 818 - good area to book some profits. I took some off.
NAV, Great Trade! You're amazing.
If you write a book, I'll take an autographed copy.
Thanks.
