ALSI

[Rams]

Christos I agree with you, Marc maybe right , but not yesterday (intraday) and I only trade ALSI intraday and my analysis related to a relaible pattern intraday. Anyway you would agree that one should not pre-empt the market and yesterday was not reversal day.

[Ninja]

A short is on the cards, we all expect that but remember the longest Bull runs are built on fear. Me thinks that Dow should reach 12500 before we see the correction but who knows....the price, she will tell us.

[Mar-11]

once the daily candel turns red...ul see that yesterday reversal day as clear as light...im not wrong yet(not on my system anyway) as have not been stopped out yet, and actually below yeterdays entry at the mom......im not a momentum trader

[#4]

Ninja with all respect to u and Simon with your view "just trade the price"What if the price is range bound like this morning.A new trader following your advice would have been in and out about 5 times as price is moving in a range.

[Rams]

It is a problem so I Just reduce the time frame , I go down to 1 min and 5 min chart, trade the price within the range..... or go fishing

[Rams]

Okay, maybe we misunderstood each other then, we in different time frames. But why dont you just wait for the red candle and then go short?

[SimonPB]

then you don't trade it .. I tarde trends so I want a trend, range bound is not a trend .. currently trend is more or less 29800-2900 .. wait for a break with volume to either upside or downside ..

[Mar-11]

ramzy why not trade longer time frames and make money while u fishing...the harder 800 struggles the more dramatic the break...

[Rams]

I agree Simon, range bound , its time to go fishing. So when you fishing you out of the market, you cant be long or short so you cant be making money while you fishing. I read the book you recommended in your course - "Come into my trading room"-like your other favourite (Mark Douglas)-lots of gems in there...

[#10]

where can i purchase these books?

[Ninja]

Christos, it is almost impossible to trade a sideways market.....if price/index is moving sideways you will typically see a number of closes above and below the 20MA, Momentum and RSI will be flatlining, no incline to your MA or bol bands. At this point you need to draw supp and res lines defining the channel that price is trading in. Once price breaks up or down and closes outside the channel enter the trade with an initial stop as a close back inside the channel. You could also wait for a retrace back to the breakout level which has now become support/resis and enter on a confirmation of that support/resis holding. You can also draw in longer term S&R lines and trade that breakout as a safer option. Hope it helps.

[SimonPB]

and there was the break, in the 11:30-11:45 candle .. had volume and was below range ..

[#13]

thanks for your help

[Rams]

back in range- time to go fishing again or wait for 15H30?

[Mar-11]

the bears want 670.....

[Rams]

Exclusive Books

[saash]

Did anyone catch a ride on the open of the Dow?

[#18]

The thing about range trading - is that you need to take expected yield into account. You can only realistically catch 50% of a trading range - i.e. the top - bottom divided by two. So if you have a 200pt range, and you are using 50pt stops, then you might have a tradable situation - expecting to catch 100pts. If you are expecting to short - just try this exercise. Plot a zig-zag line on any timeframe. Look to see in which direction you have the longest lines. I promise you that if you have higher highs and higher lows - then the longest lines will be up. Conclusion, you might be able to short the down lines - but your yield will be significantly less than waiting for hte next up line