Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Good job seeing the signal, like you say there is just no follow through or general movement in the mkt today. i guess everybody took a 4 day weekend except us.
We did have this recent move down that finally broke the range and made a LL on the 1508, I was watching the retrace and sure enough when the price gets back to resistance the mkt stops and just sits there.
This is really dangerous trading conditions, it may be best to study your previous charts and wait until tomorrow
Nah. My BE+1 was hit. I had about 10 tics in open profit at once. And I was looking for a doji or a reversal bar to form so that I can adjust my trail. The only logical pa was kinda large (that sideways chop near the lows), with stop above that.
Hi Charles. I don't think I was clear with my question. Do you normally trade close to the open, or did you see something out of the ordinary on Friday that made you take a trade so close to the open?
I certainly do not prefer trades that occur right at the U S open. On this day you ask about the mkt is in a fairly good down trend so I took a shot at it.
The results of those 2 trades speak as to why I prefer not to take trades at the open as 1 lost and 1 won just a little
It is quite common for the lows or highs to be tested right after the open resulting in quick reversals
Wow, I took took two sim trades this morning, and made 21 ticks on each. I went short at 6:53 cst and again at 9:14 cst(I am not sure how to post my charts). Thanks Charles. Were there some other trades in that downtrend this morning that I missed?
I caught some really nice shorts today as well. I caught the one @ 6:53, but I missed the short that occurred at 9:12 though. It was a mental mistake, as the trade was rather obvious.
I also took a short @ 7:38 that I lost 3 tics on.
There was a subtle divergence on a H&S/DT @ 5:25 that I missed. I almost pulled the sell button on that one, but didn't for some reason.
I was looking to get short also @ 5:53, but it occurred rather low on the swing, and the stoch divergence occurred below the 50 line, so I stayed away from that, but it went 21 tics.