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Thats what I have been doing for the past year odd
buying weakness in uptrend and selling on my price
target and missing the peak 2 to 3% each time, but
this time I screwed up big time expecting more
weakness when it was already weak. Thank my lucky
stars that I dont trade futures-just stocks, else I
would have been in big trouble by now. Analysis
paralysis is what I went through.
Ben, Ira a question - How do you know "IN TIME" when a
price move is the real deal and not a fade? I look for
price validating the signal(I just use the stochastic
in addition to PitchForks and the periods for
stochastics vary according to the last confirmed cycle
length in the issue) by follow up action i.e closing
above the signal high. Is there anything more that one
can look for?
Regards
R
--- "mr.ira" <mr.ira@xxxxxxxxxxxxx> wrote:
> Ben:
>
> Everyone enters and exits their trades based upon
> the system they use. I would exit based upon
> reaching price objectives and then confirmation from
> my two indicators. I prefer selling into strength
> rather then being stopped out due to weakness. I
> liked to give it to them when they screamed for them
> and buy when they were dumping them. Whom ever they
> might be.
>
> At this point there is no position to defend and all
> that is required to re-enter the market is a buy or
> sell signal.
> ----- Original Message -----
> From: Ben
> To: realtraders@xxxxxxxxxxxxxxx
> Cc: ntt-list@xxxxxxxxxxxxxxx ;
> e-mini_traders_anon@xxxxxxxxxxxxxxx
> Sent: Thursday, July 14, 2005 8:12 AM
> Subject: Re: [RT] S&P
>
>
> Hello Ira
>
> the 2 most important warning sighs are:
> a: new high new low did not improve last 2 days
> with higher prices,
> b: McClellan osc for issues and vol are showing
> bearish divergence,
> As you know , My belief about taking profits is
> Very important,
> this is why I called my 2 main indicators , one
> profit index and one long term trading,
> Both measure profits at different time frames,
> my sell is cash close under 1212
> p/c is still pointing higher, and so is volume,
> set back is just 2-3 days to 1180
> then new highs,
> Ben
> ----- Original Message -----
> From: mr.ira
> To: real traders
> Sent: Thursday, July 14, 2005 10:56 AM
> Subject: [RT] S&P
>
>
> This rally is over. I don't know what is going
> to kill it, but today should be the last day with a
> retracement on Friday. Let us see how that works
> out.
>
> I don't have a sell signal, just a warning that
> it is time to take profits. Ringing the cash
> register is the name of the game. Like a very wise
> old timer said, " I will give someone else the
> first 10% and the last 10% as long as I can get that
> 80% in the middle". The indication now is to take
> the 80% and sit back and wait for the next signal.
>
>
> Ira.
>
>
>
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