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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: doug-e-mini who wrote (40213)	1/25/2000 12:17:00 PM
From: Robert Graham	Respond to of 44573

Yes, it moves the other way hard. But I see where this shows up in situations other than fake breakouts. For instance, price can be slowly pulling back, moving enough to keep traders on one side with other "swinger" types whose only trading maxim is to "go with the flow" jumping onboard as the price continues. Then it quickly travels the other way trapping those traders. :-)

To: doug-e-mini who wrote (40213)	1/25/2000 2:54:00 PM
From: Robert Graham	Respond to of 44573

I am beginning to think the secret to day trading is in an understanding of price action and the ability to trade non-optimal entries that this understanding can facilitate. But at the same time it is important not to rely on non-optimal entries as ones approach to trading profits, and most importantly, not to attempt to generate profits on the price action itself. The small profits using this as ones approach to trading can encourage the trader to risk more money than the profit is worth. Also encourages allot of non-optimal in-and-out behavior, a destructive type of scalping that helps the trader lose their perspective and trade every wiggle that shows up. This will at the same time help the trader to miss the larger moves that makes daytrading profitable. Certainly not for the addictive personality type. :-) Just some thoughts. Any comments? Bob Graham