New target for short 29850

[#1]

I suggest we do the calculations after the trade is complete.

[Rams]

up or down, right or wrong...it makes no difference to a good trader...if you all emotional about how right you going to be then you are not a good trader...a hopeful trader but not a good trader....

[#3]

spoken like a pro.

[sponono]

how did the short in a strong market go?

[Russ]

sponono 1,alsitrader 0.The market has spoken.

[Rams]

...every trade needs a setup, a trigger and confirmation...tell us your rules and why you were so sure of the short and maybe we can help you sort yourself out. Hopefully you have good money management and can trade on another day...

[#7]

Rams you are both mistaken and naive in this response. Firstly while it is certainly true that most trades require what you suggest they do not always. Scalps and other discretionary trades are are a perfectly acceptable part of any trading strategy. These are often executed at periods when the market is extremely stretched and have a really simple execution and a set target ( eg 50 points). As long as the trader is aware they are scalps they can add very valuable very low risk points. As for trades which require a set up each person’s set up is different - on the three profitable trades mentioned we traded a terminating diagonal breakdown. The trades are as follows: • 18/01 Wed (the date of this post) we went short above 30 000 for a move to 29850 - target hit • 19/01 we go short 30185 - target 29990 - target hit • 20/01 short at close at 30319 target 30150 target hit today 23/01 • Current trade short at close at 30520. (totals points this far 450) I hope you take a little time to figure this out so that you get it right this time. If you are unsure of anything please ask me. I know that you are trying to portray the calls i have made as losing calls but going a check of what i actually said before the trades were executed will show that on all 3 days the trade was profitable. I have no reason not to believe that the current trade will be highly profitable right at the open tomorrow morning. In addition to set ups and targets you require risk reward parameters to assist with position sizing. Of course this is all set against the background of your personal daily/monthly targets as well as the progress towards these targets.

[#8]

That is incredible, since being part of the Chartist group my trading has improved by leaps and bounds!

[Rams]

AlsiTrader, you still have a lot to learn about trading...you can mislead people who dont trade the ALSI, you probably can mislead people who are even traders but dont the ALSI, but you cannot mislead traders who trade the ALSI everyday!From your first post where you admitted you were not an experienced trader,I have to assume that you need some help.

[#10]

Pool boy perhaps ?

[#11]

Rams you clearly have an issue with me - if being condescending makes you feel better that says more about you than it does me. As far as for me misleading people - this I can only put down to projection on your part as you offer no example or justification for what you say. Yes i have a lot to learn - one of the reasons I trade is because one is always learning, mostly about oneself. One thing is for sure people with needy fragile egos who need to point fingers at others will battle to ever truly suceed at trading.

[#12]

no but he is an olympic swimmer...someone who has achived something which is more than can be said for you.

[#13]

Don't kid yourself, he knows exactly what he is doing. And he is right concerning trade setups. That is for mechanical traders. A discretionary trader relies on an ability to 'read the market' and adapts trade setups to market situations. For instance, Chartist looks like he is trying to pick up exhaustion moves, the theory being that a strong close at the top end of a rally is extremely unlikely to result in a gap up the next day. Not my personal style, but I can see what he is trying to achieve.

[#14]

Scalp trading is extremely difficult process to accomplish, yes it can be a perfectly acceptable part of a trading strategy but by placing the description of when market is really streched shows only the basic understanding on your part, your more than welcome to expand on that thought if I'm incorrect. One example I can give of you making an error is yesterday when you topped up on another contract to go short at around 30200 I believe. If you had waited for a confirmation of a move this would not have been needed the same can be said of being stopped out on your last trade. If you had confirmation of the target you had set no stop would have been activated. One waits for a 5 min close above or below or a daily close above or below or whatever not so? the importance of time periods within larger time periods are of utmost importance.

[#15]

Olympic swimmer ... an improvement none the less Mark

[#16]

Cash you are right about scalping not being easy but you are wrong anout it being complicated. The very essence of scalping is just getting on board some kind of obvious very short move without having a view of where the market is heading. Do not confuse this simple view of scalping as "only having a very basic understanding" I have a very good understanding of what scalping is and what I am doing. As for adding to the short yesterday this was the right thing to do. I was in profit (so i was not adding to a losing position) and we had a move back up to the HOD without any close above it. This is a well defined strategy and as the market action shows we did in fact put in a temporary double top and moves 240 points lower. This was no mistake i assure you. As for getting stopped out - I was stopped out on a traling stop after having taken profit on half the position. Being stopped out is not a shame or a disgrace, especially is it is to lock in a good profit. As for waiting for confirmation you are once again stating the obvious in a condescending tone and as I indicated I am not sure what spevific ioncidence you refer to.

[#17]

that should read " as for adding the short on Friday" ...you refer to yesterday but it was in fact Friday that this took place

[#18]

You were in a short position yes? right! Then the market moved back UP to 30200 yes? right! how were you in profit? you were stoppped out when you called the bottom anyway so why continue the trade when there was confirmation of the bottom you called but then getting stopped out. I'm not being condecending. Scalping requires a quick finger difficult. Yes there are ways to trade them affectivly using bollinger bands but not for the feint of heart.

[#19]

Correct, sorry.

[#20]

no problem ...you do sometime seem like you trying to emulate some of the other haters here as it seems to be quite popular. It will help a great deal if you just took a few more minutes to get the facts right.