Advanced get 12
The market moves on emotions and 95% of traders do not have a clearly documented step by step rule book to follow, which removes emotions allowing them to nail down a consistently profitable strategy and stick to it. Unfortunately these positions should have been in your trading account and not in theirs. Because of the leverage involved with futures most people put too tight of a stop at or just beyond recent pivot highs or lows… These levels are where the market makers TRY to get the price to reach on a regular basis so they end up with a huge position that is very profitable in most cased within hours. If you are getting shaken up as you stated then you are not setting your stops properly. Yes, stops are tough to figure out for sure. Hope this is something you can look at as an enhancement to your excellent service (and I would gladly pay for this). Then got badly maimed by the Draghi and Bernanke bounces in September. Some months ago, when this happened a lot, I stopped using stops completely. It almost seems like someone can see my stops (set above or below what I measure to be resistance and support) and literally aims for them to take me out. This has been very frustrating and expensive – so I think I really need a tutorial/advice on setting proper stops. This afternoon (I live in Singapore), my sell stop of 1417 that had been set last Thursday got hit, and I watch in frustration as ES dipped to 1412 without me. Last Thursday, I put in a buy stop for 1392, and that got triggered during a spike down yesterday. In the last week, with the chopping around, I’ve had the bad fortune of being short ES, and multiple times being stopped by a little spike, and then I am watching the market go lower without me. One of my members sent an email asking for help and he could not have picked a better time to ask because the market is eating traders alive here… This week it has jumped over 12% which is exciting. Last week I mention how RIMM looked ready for a major breakout and rally. Interesting how the market move and why I love them so much… Well today utilities (XLU) is trading lower. Yesterday we saw utilities rally as fear worked its way into the market. Precious metals are not participating today and even gold stocks are trading lower… Seems people are really focused on pure risk on (equities) today. This is something I will be teaching in the near future using my own eSignal trading indicators and Signals as it has been CRUCIAL in the past 3 year to profit from and minimize losses.ĭaily Chart of my Cycles & Sentiment Indicator of the SPY:
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It’s shaking traders up who do not know how to adjust their trading strategy during rising volatility and mixed market cycles. Take a look at the 10 minute intraday chart of the past fiveOPEN trading sessions (Wed, Thurs, Fri, Wed, Today) as notice how choppy price has been…. The big question from here is what to do now? Well, I wanna see some bullish patterns and volume over the next 12-48 hours if we are going to be looking to get long for an intermediate rally that lasts several weeks taking the indexes to new highs. Long story short… stocks are overbought here very similar to the past two highs as seen in the chart below. We did see a nice pop this morning breaking some previous pivot highs from last week and volume looks strong.