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Entry Unholy

  • #2,241
  • Feb 6, 2019 4:45pm Feb 6, 2019 4:45pm
Bulls are looking more lively than they have in a while... would love to see a run back up to ~1375 to see what happens and maybe start looking for another short.

In the meantime, I will fix this here daggum Subaru...
  • #2,242
  • Feb 6, 2019 5:47pm Feb 6, 2019 5:47pm
will powell speech effect the market volitility??
MRMALIK1
  • #2,243
  • Feb 6, 2019 5:58pm Feb 6, 2019 5:58pm
I'm not 100% sure, it's a strange time for a news announcement, but I would anticipate yes. Looks like they might try to shove it up more.
  • #2,244
  • Feb 6, 2019 6:15pm Feb 6, 2019 6:15pm
*crickets* LOL well there ya go, news announcement Asia-style... definitely no FOMC
  • #2,245
  • Feb 6, 2019 6:38pm Feb 6, 2019 6:38pm
Looks like we might have a shoulder forming... but... da bears are out there...
  • #2,246
  • Feb 6, 2019 6:40pm Feb 6, 2019 6:40pm
Quoting mrmalik1
{quote} i had been away almost all day yesterday,,,,since got some longs got stuck badly and waiting for them to close even in BE,,,,jp1 we are on the same boat lol {quote} digs bro do see any potential to go up a little bit i have longs from 1.1383
Sorry ,, missed this ,, tgts below yet ,,but into a little support ,,not much to go on yet for up but the day is young
  • #2,247
  • Feb 6, 2019 6:59pm Feb 6, 2019 6:59pm
Two things suck about 6E futures...

First one is that the contract is denominated at 0.00005, so for every five "pips"? you guys move, we move one tick. Even worse, I trade the M6E micro which is 0.0001, so I don't get a tick until you guys move 10!

The other thing that sucks is that it is a lot more difficult to control position sizing; I trade at most four contracts, each worth $1.25/tick (or $12.50/tick on the full size contract.) Each contract doubles your risk. Micro lots and such.. man I wish I had that kind of fine-grained control over my size.

Here's what a M1 6E chart looks like right about now... no wonder I suck at scalping lol...
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  • #2,248
  • Feb 6, 2019 8:30pm Feb 6, 2019 8:30pm
digz bro do you see any potential to go up if down how down it can go,,,,if it can go much lower i want to close my trades,,plz advise
MRMALIK1
  • #2,249
  • Feb 6, 2019 8:49pm Feb 6, 2019 8:49pm
Quoting mrmalik1
digz bro do you see any potential to go up if down how down it can go,,,,if it can go much lower i want to close my trades,,plz advise
My thoughts. I think 1350 is a good target yet. Using open as res atm..trading under several levels still. Just my 2 cents...Digs thoughts are always golden tho...
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Zip
  • #2,250
  • Feb 6, 2019 9:28pm Feb 6, 2019 9:28pm
OK, I have a question. I know nothing of patterns, never studied them and don't really know anything about them. Digs, I notice you use a few... H&S, flags primarily... and I'm not afraid to do the homework, but I figure I'd go to the source and ask what it is that YOU are looking for when these situations come up. I mean, we can find a H&S or a flag just about anywhere, but obviously there are ones that stand out to you and say "hey man, this might be what we are looking for.."

I know it comes with experience, and I am starting to look for them, just wondered if you had any "pro tips" to offer to us noobs
  • #2,251
  • Feb 6, 2019 9:32pm Feb 6, 2019 9:32pm
Quoting mrmalik1
digz bro do you see any potential to go up if down how down it can go,,,,if it can go much lower i want to close my trades,,plz advise
MrM, I can't speak for Digs but this shit looks quite bearish to me man. It may come back but at some point you have to draw a line and say hey, I was wrong... you should actually know this point before you get into the trade. Sometimes ya just gotta take the hit and move on to the next trade.

Edit: Yes, it can go MUCH lower... without looking back any time soon..
  • #2,252
  • Feb 6, 2019 9:38pm Feb 6, 2019 9:38pm
Quoting Rrrracer
OK, I have a question. I know nothing of patterns, never studied them and don't really know anything about them. Digs, I notice you use a few... H&S, flags primarily... and I'm not afraid to do the homework, but I figure I'd go to the source and ask what it is that YOU are looking for when these situations come up. I mean, we can find a H&S or a flag just about anywhere, but obviously there are ones that stand out to you and say "hey man, this might be what we are looking for.." I know it comes with experience, and I am starting to look...
If I may.......
What tends to help is to first plot out your horizontal levels on the chart. Once that is all done and dusted you look to the overall trend and what PA is doing at those levels. For instance when we going up is a level holding or folding and what does the structure look like at that level...that should give you the most probable outcome at the end of the day. It goes back to what was discussed yesterday. We don't try to pick tips or bottoms but look at what price is doing at that level is support being turned into resistance if so and we have a head and shoulder pattern at/near the level then we can look at probable projection in terms of where price will end up.
Just my 2cents worth......
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  • #2,253
  • Feb 6, 2019 9:43pm Feb 6, 2019 9:43pm
Quoting Rrrracer
{quote} MrM, I can't speak for Digs but this shit looks quite bearish to me man. It may come back but at some point you have to draw a line and say hey, I was wrong... you should actually know this point before you get into the trade. Sometimes ya just gotta take the hit and move on to the next trade. Edit: Yes, it can go MUCH lower... without looking back any time soon..
closed all in loss,,,accept the mistake,,,
MRMALIK1
  • #2,254
  • Feb 6, 2019 9:49pm Feb 6, 2019 9:49pm
Quoting mrmalik1
{quote} closed all in loss,,,accept the mistake,,,
I did the same yesterday bud..but the pressure is now off and we can start new..
Zip
  • #2,255
  • Feb 6, 2019 9:57pm Feb 6, 2019 9:57pm
Quoting Rrrracer
OK, I have a question. I know nothing of patterns, never studied them and don't really know anything about them. Digs, I notice you use a few... H&S, flags primarily... and I'm not afraid to do the homework, but I figure I'd go to the source and ask what it is that YOU are looking for when these situations come up. I mean, we can find a H&S or a flag just about anywhere, but obviously there are ones that stand out to you and say "hey man, this might be what we are looking for.." I know it comes with experience, and I am starting to look...
Little sht on time ,, but start with certain time frames ,, daily to start ,,then its from what level or wht levels are around ,, and yes a horizontal level is the only way true sup or res lays ,,dont care who says what about tht its the way it is will try and get some more ,,just multi tasking atm
  • #2,256
  • Feb 6, 2019 10:01pm Feb 6, 2019 10:01pm
Quoting Piptaker64
{quote} I did the same yesterday bud..but the pressure is now off and we can start new..
actually was away from pc,,,had buy limit got filled did not close them in minor loss got married with them and got fucked lol,,,,could not sleep all night it 9AM her now and watching the loss geeting bigger and bigger in the hope that it may reverse,,,but did not
MRMALIK1
  • #2,257
  • Feb 6, 2019 10:04pm Feb 6, 2019 10:04pm
Quoting mrmalik1
{quote} actually was away from pc,,,had buy limit got filled did not close them in minor loss got married with them and got fucked lol,,,,could not sleep all night it 9AM her now and watching the loss geeting bigger and bigger in the hope that it may reverse,,,but did not
when you do tht ,,make sure you put a stp in too ,,no matter what get a stp in
  • #2,258
  • Feb 6, 2019 10:09pm Feb 6, 2019 10:09pm
Quoting digger1
{quote} when you do tht ,,make sure you put a stp in too ,,no matter what get a stp in
made a mistake,,,big mistake and paid the price
MRMALIK1
  • #2,259
  • Feb 6, 2019 10:20pm Feb 6, 2019 10:20pm
Quoting Rrrracer
OK, I have a question. I know nothing of patterns, never studied them and don't really know anything about them. Digs, I notice you use a few... H&S, flags primarily... and I'm not afraid to do the homework, but I figure I'd go to the source and ask what it is that YOU are looking for when these situations come up. I mean, we can find a H&S or a flag just about anywhere, but obviously there are ones that stand out to you and say "hey man, this might be what we are looking for.." I know it comes with experience, and I am starting to look...
Sometimes the flags are just h&s patterns they all dont lay pretty on a chart like the text books show ,, where they show up on longer charts you see why ,,then its watching for them in the little charts at areas they should be showing up ,, same going the other way ,,,, inverted ones to poke thru res ,,,regular to poke thru support
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  • #2,260
  • Feb 6, 2019 10:23pm Feb 6, 2019 10:23pm
Quoting mrmalik1
{quote} actually was away from pc,,,had buy limit got filled did not close them in minor loss got married with them and got fucked lol,,,,could not sleep all night it 9AM her now and watching the loss geeting bigger and bigger in the hope that it may reverse,,,but did not
That's the unfortunate thing about the pending orders.
Because often times the level may be correct but PA and market sentiment behaves in a differing manner when it reaches that level. Had a couple of those this week but it's part of the game and when I'm a away from the PC I keep checking the old mobile and if they have been filled and start drifitig into a loss the idea is to cut em off early on.

MrM but from your posts over the last two weeks or so you have been bagging some pips my man the odd loss here and there is not all that bad. We bounce back.
4&1 All Time Profit: $37,496
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