The Intraday US Stock Market Discussion Board
https://bbs.cobrasmarketview.com/
"rank amateur" = "experienced amateur" or "high hand amateur"?99er wrote:I'm a rank amateur and I agree with cheech. Sell now.
Check "Getting Start". Click "Trading" link above, you'll see another forum called "Getting Start".ctu688 wrote:Hi Cobra,Cobra wrote:if L1 next bar, then could see a pullback here. overall, the up momentum is strong, bears better don't fight.
You mention L1, L2 and stages of push. Is there some reading in regard? I am short of reading list. Thanks
Cobra, or anyone who uses Al Brooks's setup: I've read the reading materials but I still don't understand how one suddenly switches from counting H1, H2, .. to looking for L1. Is it when the previous H fails? TIA!Cobra wrote:no L1, so no sign of pullback, let's wait the next bar. again bears don't fight.
There are so many different trading strategies. News is one of them. Bottom line you follow a well designed strategy you make money whether you're Warren Buffet or Jim Simons. No one way is right, but always must remember, all that truly matters at the end of the day is money(price) and time.cheech wrote:Fair enough. But I just made 50% in a few minutes on UNG calls, so I guess it doesn't matter. lolbbc wrote:
there are several points that invalid your assumption:
1. big traders not always know news before us.
2. they could manipulate the price pattern, 4 weeks or more, there are manipulated sell-off before Friday noon to trigger many long orders stop, then it rebounced even more in the afternoon with good news. a -5% in the morning and +5% in the afternoon. And it happened a lot with many futures.
I guess you misunderstood me a bit, I did not say I will try to guess the news, I am using a quantitative approach exclusively, all I said is when there is no
*hint* in the price pattern, if I have to trade this risk high, reward high scheduled events, I will place stop to enter order on both sides.
I think you believe all information you need for trading is price,volume, that's debatable right? when it comes to belief, I have no opinion on that:D
So time, it will be stopped in with the wrong direction
"Main Entry: rank amateur
you need identify trend first. in an up leg, you look for H1/H2 to long, while in a down leg you look for L1/L2 to short. What's up/down leg? Well, that's a little subjective call, requires some experiences. So at the very beginning, you should only trade strong trend therefore the leg is very clear to you.pidge66 wrote:Cobra, or anyone who uses Al Brooks's setup: I've read the reading materials but I still don't understand how one suddenly switches from counting H1, H2, .. to looking for L1. Is it when the previous H fails? TIA!Cobra wrote:no L1, so no sign of pullback, let's wait the next bar. again bears don't fight.
THanks much Cobra. It's an art.Cobra wrote:you need identify trend first. in an up leg, you look for H1/H2 to long, while in a down leg you look for L1/L2 to short. What's up/down leg? Well, that's a little subjective call, requires some experiences. So at the very beginning, you should only trade strong trend therefore the leg is very clear to you.pidge66 wrote:Cobra, or anyone who uses Al Brooks's setup: I've read the reading materials but I still don't understand how one suddenly switches from counting H1, H2, .. to looking for L1. Is it when the previous H fails? TIA!Cobra wrote:no L1, so no sign of pullback, let's wait the next bar. again bears don't fight.
GLTARemember once you said that high volume of visit when market near bottom -- the essence probably many people (bulls) are in much pain there. Hope the opposite also works, near the top when also many poople, bears this time, are in great pain.Cobra wrote:interesting, it's still in the morning, already 7 pages.
