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MMMate that is awesome, some brag about a 10 bagger but you've made a 40 bagger!!....great to hear you smashed it!! Absolutely nothing wrong with reporting SUCCESS as it's a rare commodity in this business and I hope we can hear more of it in the future!! I still remember my first ever HSI trade....went long and watched a $500 profit turn into a $100 loss...completely clueless and probably one of the reasons I scalp intraday after the pain of that trade. I just don't have the screen patience anymore. Shame really as patience = profits.
The HSI lately is a beast....moving so fast and very surgy...you really don't want to be on the wrong side and another example of why everyone needs stop loss's attached to EVERY trade.
Hope the market continues as it's been a great month for HSI and my SMSF account!!
I knew you'd see it that way, which is why I knew you wouldn't mind me posting it on your thread. We all go through ups and downs. Some people see success and they resent it, but that kind of attitude will never win long term. We have to celebrate with each other, even when others are doing better than we are. If I've had a bad day/week, and I see you post your weekly results and they're good, it actually inspires me -- if someone else had a good week, and I didn't, that gives me inspiration to turn it around next week!
Yes, the HSI has been wild -- got to give it proportionally more room to breathe, and increase the targets, IMO.
Yep a "growth" mindset is essential in this business....hard to succeed without it really. My kids get it at school everyday....I wish it was compulsory for everyone.
+40 tics (4/5) today then turned it off (1st trade was a bit silly) , not feeling great as I had a monster bike ride this morning and need a little lie down to recover I feel like I'm leaving a bit on the table with the volatility but not wise to trade when not 100%. Missed a few trades with the blue dots that moved too fast to execute.
What do the blue dots represent? And I was wondering if you'd mind including a brief commentary on your PATs entires? I'm a PATs newbie and would find this really valuable
The blue dots are good entry points which follow one of the PATS set-ups patterns which are in summary - for the long entries (opposite for shorts) - 2EL(2nd entry longs),F2ES (failed Second entry Shorts) ,BPB (breakout pull backs),Traps (failed breakouts) - but the real secret is to "know" when each type of pattern works best.....and to ensure your reading the support/resistance levels correctly as the essence of PATS is to buy at support and sell at resistance which makes complete sense.
Best advice is to watch Macks' YT video's as he goes through each days best trading set-ups.....these are priceless - I watch them everyday to get my brain working in the correct frame-of-mind each morning.
Thanks Godzilla, yes I'm currently trying to soak up PATs info like some sort of demented sponge! Mack's material is absolute gold. Is it worthwhile signing up to his premium members area?
Also, have you tried scalping his Square of Nine method at all?
I haven't heard about Square of 9 method - What is it ? Does it work?
The second dot is a weak Break out pullback the market turned stronger before it making it "more" likely it would work..
It's in his "Simple ES Scalping Technique" manual. Basically, he scalps 4-tic bounces off Gann Square of Nine lines on range days. Seems to work like clockwork on the ES (according to Mack). I get the impression it's directed more at traders who don't really want to dedicate themselves to learning his price-action methods and who are content to scalp without the prospect of runners.
Todays chart....+68tics....followed the rules and showed a bit of discipline....you can tell when your reading the chart correctly as the trades close-out within 60 seconds(on average) - (ignoring my second trade loss for picking a poor quality set-up) ..there is some sort of vacuum where a lot of traders are trapped as they race to close out their losing trade it drives your trade into profit faster....it's almost like you can sense a poor trade by the price action within 10 seconds. May be this "sense" come from watching the chart action every day for over 2years now....Mack was right...it takes a lot of screen time but it's worth it.
But think about it, if a clown like myself can do it....you can do it too!!
I really hope the Indian curry shop is open as with the kids back at school from this week I can take the wife out for a feast for lunch...haven't had it for weeks...cravings!!