35854 replies to this topic

[Sunesis]

Hi A, you feel there will still be pullback this afternoon/tomorrow from current levels and not a steady continuing grinding up - guess it depends on US moves tonite ?

US moves tonight will be tricky.

 

I only have one long open in case we go up.

 

Focus is back to US earning season.

 

Verizon, IBM and Goldman Sachs beat EPS today. Should get interesting today

 

Goldman Sachs 3Q equity revenue falls 18%, fixed income revenue drops 44%

 

American Express beat estimates.

Coca Cola beat estimates

 

Tomorrow we have General Electric and Morgan Stanley

 

Play safe.

 

Waiting for Phillip Morris, Google and AMD report today.

 

20% of the DJIA have reported in the past 16hours, including heavyweights

[CPvanWyk]

OK here are the plan. If the results are bad it will go up. If the results are good it will go up. Same with the earnings.

 

TILLL the fat old clever big bank decides so......

[Trainee Trader]

US earnings season, a very key month.

 

2000 point drops usaully happen this time.

 

US Results @ 14:30

 

• UNITED STATES-JOBLESS CLAIMS - JOBLESS CONTIN CLAIMS
• UNITED STATES-JOBLESS CLAIMS - JOBLESS CLAIMS 4-WK AVG
• UNITED STATES-BUILDING PERMITS REVISED - BUILD PERMITS R CHG MM
• UNITED STATES-HOUSING STARTS - HOUSE STARTS MM: CHANGE
• Housing Starts
• UNITED STATES-JOBLESS CLAIMS - INITIAL CLAIMS

Edited by Trainee Trader, 17 October 2013 - 01:58 PM.

[OceanWalz]

Thanks L

 

Cutting my other half too, was a good run and negative divergence (mini top?) in the 1h charts so will wait for the pullback!

 

A

Hi A, you feel there will still be pullback this afternoon/tomorrow from current levels and not a steady continuing grinding up - guess it depends on US moves tonite ?

[Sunesis]

This goes back to pocket depth A.
Sunesis has mentioned holding for up to 2000 point drops, which seldom happens.

US earnings season, a very key month.

 

2000 point drops usaully happen this time.

[Sam]

This goes back to pocket depth A.
Sunesis has mentioned holding for up to 2000 point drops, which seldom happens.

[Lekkerry]

Can't fault this post, but (if I may Plasma! ) use good 'oll Plasma as an example, not having a R100k trading account or even a couple of Rk account does not really allow one to trade the big swings up and down. The MM might come knocking more often than not towards the long term goal. I have been there as well, we all have probably, but a decent, disciplined and methodical approach towards scalping is the easiest way to build your account (again?). I have to agree, from there then you can enter the longer term trades, riding it towards the goal.

 

My approach is to build my account using Micros, then after a couple of R1ks, I withdraw and start again. It works for me, as I do not want to (at this stage) dump a R100k into an account. I would like to, but baby-steps is fine for me now. Yes, we each need to trade the way we are meant to, but at times, it feels as if one way is being touted as being inferior to another, which it is not. It is all very subjective and circumstantial.

 

I do appreciate the varying views expressed here, but some are more vocal than others, then it might skews things. I have to admit, I have been riding some trades further towards the goal in recent times, because of what I am reading here and at times it works, but as I said, baby-steps, for me at least.

 

Best is to go back and look at the TOP40 chart and be honest, of the 2000-3000 moves up and down, how much have you really gain by jumping in and out..nobody can foresee the daily fluctuations and especially with the ALSI she can quickly turn around and hurt you!

 

Don't think the really big bucks lies with scalping but agree one can make money..!Even with the 'buy the dip' theory you still need to know your entry and exit points, cause that one time when she keeps falling and you average she just might keep going!

 

A

[Argento]

Best is to go back and look at the TOP40 chart and be honest, of the 2000-3000 moves up and down, how much have you really gain by jumping in and out..nobody can foresee the daily fluctuations and especially with the ALSI she can quickly turn around and hurt you!

 

Don't think the really big bucks lies with scalping but agree one can make money..!Even with the 'buy the dip' theory you still need to know your entry and exit points, cause that one time when she keeps falling and you average she just might keep going!

 

A

And lastely, to especially scalp against the trend is futile...just my 2c!

 

Enjoyed the croc trading style story S, very true!

 

A

[Argento]

Best is to go back and look at the TOP40 chart and be honest, of the 2000-3000 moves up and down, how much have you really gain by jumping in and out..nobody can foresee the daily fluctuations and especially with the ALSI she can quickly turn around and hurt you!

 

Don't think the really big bucks lies with scalping but agree one can make money..!Even with the 'buy the dip' theory you still need to know your entry and exit points, cause that one time when she keeps falling and you average she just might keep going!

 

A

[Sunesis]

Aren't you confusing the issue: is it about the candle stick timeframe one trades in or is it about the length of time you are exposed to in the market? 

The scalping and long term trade argument never ends.

I guess we can say trade whichever way makes money for you.

 

In every style you need a crocodile approach

[Lekkerry]

Aren't you confusing the issue: is it about the candle stick timeframe one trades in or is it about the length of time you are exposed to in the market? 

 

[edit] Ok, maybe not .

 

Buy the dip is a day trade style. you have to make sure you are out of the trade before session closes.

 

Scalping is holding a trade for less than 5mins

Edited by Lekkerry, 17 October 2013 - 12:21 PM.

[Lekkerry]

Succesfull scalping like long term trades, requires a degree of acumen, skill and finesse as well.

 

Scalping is more often than not (unfortunately) associated with first-time or novice traders (with all the pitfalls they / we fall in at times) - hence the negative connotation. But there is a very profitable side to scalping which can outweigh most long term traders as well at times (now I stepped into this again: this is NOT a contest between traders or trading regimes).

 

Great read there S!

I like the last opinion about 'scalping'!!!

[Sunesis]

I disagree 100%

Scalping has been very profitable for me, more so than keeping for longer.

 

Lets say you do hold longer term, and buy the dips, how will you know the market has not turned, while you keep buying dips. It will be very painfull.

Buy the dip is a day trade style. you have to make sure you are out of the trade before session closes.

 

Scalping is holding a trade for less than 5mins

[Beorn]

Great read there S!

I like the last opinion about 'scalping'!!!

 

I disagree 100%

Scalping has been very profitable for me, more so than keeping for longer.

 

Lets say you do hold longer term, and buy the dips, how will you know the market has not turned, while you keep buying dips. It will be very painfull.

[chnkaw001]

I think it may be the credit rating that is a concern now.<br />I wonder if shorting is a good idea before US opens<br />

Edited by chnkaw001, 17 October 2013 - 12:08 PM.

[Trainee Trader]

Now that ALL news is out, any theories as to why the market is just stalling?

[Redeemer]

Great read there S!

I like the last opinion about 'scalping'!!!

 

 

What Crocodiles Can Teach You About Trading

 

This is how you get a high strike rate as trader, not by trading a hundred times a week in some futile effort to “scalp” the markets.

 

[Sunesis]

What Crocodiles Can Teach You About Trading

 

Crocodiles are by many accounts the most successful animal that has ever lived; they’ve been around for about 200 million years and have out-lived the Dinosaurs, and they’ve evolved over time to become perhaps the most successful predator on Earth, next to humans.  Crocodiles are opportunistic predators; they’ve been known to learn the behavior of their prey and lie in wait for long periods of time almost to the point of starving, and then when the time is right they ****** their prey with confidence and precision.

 

In fact, it is quite common for people to swim with these animals for days or even weeks without any sign of aggression, until one day somebody goes swimming, fishing or even walking, and they never return. This demonstrates real-world evidence that one of the oldest and most methodical predators on Earth is also one of the most patient and disciplined that has ever lived.

 

The crocodile is actually our best role model as traders; their behavior is really the perfect metaphor for how a trader needs to behave. We are without doubt predators, not just trading predators, but as humans we are naturally built and function as hunters. As traders, we must copy the crocodiles’ methods of hunting; we must be disciplined, patient, adaptable and methodical in our approach.

 

Crocs have a high strike-rate

Crocs have a good strike-rate because they are patient and wait for the “easy” opportunities and then act with confidence and speed…they don’t hesitate. Whereas a Lion might have many failed hunting attempts trying to catch a Gazelle or some other quick animal, expending a lot of energy in the process, crocs tend to have less “losing trades” or failed hunting attempts…because they don’t waste time or energy…they wait and wait andcontrol themselves with precision until their prey almost walks into their mouth…then they feed.

 

As traders, waiting and being patient can increase your strike rate. Controlling ourselves is really all we can do as traders…we cannot control our “prey” (the market)…we can only conserve our money and wait patiently until our trading edge presents itself. This is how you get a high strike rate as trader, not by trading a hundred times a week in some futile effort to “scalp” the markets.

[K~~]

Macd (10,13) MA (1)

 

Use the 21, 89 and 200 moving averages

 

A

 

Thanks! 

[Sunesis]

Nice FTSE Chart Today

 

http://www.ftsedaytr...prediction9.png