12/11/2018 Live Update

[Trades with cats]

Divergence Oscillator in the second box, really doesn't like this move.

[pathogambler]

I don't like the price action right now. If it breaks 2655 I'll have to add to my going to be losing position in the upper 2680s and 2690s.

[Al_Dente]

HAPPY HOUR

[QED]

I don't like the price action right now. If it breaks 2655 I'll have to add to my going to be losing position in the upper 2680s and 2690s.

You really need to put in a profit stop so that you do not give it all back.

Never turn a winning trade into a losing trade!

Also, why do you plan on adding to a losing position at a higher price on this trade, when you can stop out with a profit, and then open a new short at whatever price you decide.

Never assume with certainty that you know what the market is going to do.

.

[pathogambler]

I don't like the price action right now. If it breaks 2655 I'll have to add to my going to be losing position in the upper 2680s and 2690s.

You really need to put in a profit stop so that you do not give it all back.

Never turn a winning trade into a losing trade!

Also, why do you plan on adding to a losing position at a higher price on this trade, when you can stop out with a profit, and then open a new short at whatever price you decide.

Never assume with certainty that you know what the market is going to do.

.

Thank you. It's okay to lose money, because when you lose then the next move is the winning one for swing traders.

[K447]

... It's okay to lose money, because when you lose then the next move is the winning one for swing traders.

There is no such rule.

[Trades with cats]

If you are a venture capital person and you miss a great opportunity it is a tragedy. If you trade stocks then the market will always provide another set up.

So I think Warren Buffet says something like this. Rule 1 don't lose money. Rule 2 , see rule one.
So yes take a profit and don't suffer from Fear Of Missing Out.

[pathogambler]

... It's okay to lose money, because when you lose then the next move is the winning one for swing traders.

There is no such rule.

I didn't know there are rules in trading, like physics chemistry and math? Hardline rules?

[pathogambler]

If you are a venture capital person and you miss a great opportunity it is a tragedy. If you trade stocks then the market will always provide another set up.

So I think Warren Buffet says something like this. Rule 1 don't lose money. Rule 2 , see rule one.
So yes take a profit and don't suffer from Fear Of Missing Out.

Oh I see what you mean now. Suggestions.

Because I was very sure before I started trading is that "there are no rules". I make up my own boundaries and my own risk factors.

[K447]

... It's okay to lose money, because when you lose then the next move is the winning one for swing traders.

There is no such rule.

I didn't know there are rules in trading, like physics chemistry and math? Hardline rules?

Your post suggested there was some connection between losing a trade and what would happen on the next trade.

I said the opposite. There is no rule that a winning trade must follow a losing trade.

[pathogambler]

... It's okay to lose money, because when you lose then the next move is the winning one for swing traders.

There is no such rule.

I didn't know there are rules in trading, like physics chemistry and math? Hardline rules?

Your post suggested there was some connection between losing a trade and what would happen on the next trade.

I said the opposite. There is no rule that a winning trade must follow a losing trade.

Understood. I apologize for mistakenly thinking something else. You are correct, there are no rules. For me usually it is correct trade when I'm wrong. I know for daytraders they can be wrong 10,000 times in a row,

[Al_Dente]

past 4 days
5min chart
inverted H&S on SPX
won’t confirm until the neckline is broken..... which is very near.........

[Trades with cats]

Trading is living in a probability cloud built with semi-reliable statistics. So yes there is firm math, but the math is about probability. There are several sets of sayings that have been proven through time. There are also decent probability rules for amount of capital at risk (risk of ruin). There are also huge numbers of scammers selling educational materials and guaranteed systems. So in the end we are all students of the great game.

[QED]

.
“Win or lose, everybody gets what they want out of the market.  Some people seem to like to lose, so they win by losing money.”

— Ed Seykota

.

[Al_Dente]

The "rule" most of us use on this board is "TECHNICAL ANALYSIS 101"
examples:
http://thepatternsite.com/chartpatterns.html

[pathogambler]

Trading is living in a probability cloud built with semi-reliable statistics. So yes there is firm math, but the math is about probability. There are several sets of sayings that have been proven through time. There are also decent probability rules for amount of capital at risk (risk of ruin). There are also huge numbers of scammers selling educational materials and guaranteed systems. So in the end we are all students of the great game.

Totally agree on probabilities. I wish Cobra would give us even more quantitative data and less focus on patterns and what not. I rather trade like a hedge fund based on hard data and not like a retail investor using obsolete early 20th century indicators. Anyway, Cobra's weekend analysis has some good quantitative data that I really like. I wish I had the guts to enter a long position at 2590 yesterday to exit at 2650 based on the weekend data.

[Al_Dente]

intraday
SMALLS
shorts are covering
5min

bulls pullback
struggling to hold onto that higher low

[Al_Dente]

hot stove alert

[K447]

... I wish Cobra would give us even more quantitative data ...

From a previous end of day post;

.... Non farm payroll day tomorrow has been down 4 of the last 4.
...

These next day statistical notes might be more useful if posted earlier in the day.

Why wait until near the close to mention them?

[Cobra]

members only update at 3:50 pm
http://www.cobrasmarketview.com/2018/12 ... ay-update/