in replaying the APC chart today, this is the more magical trade to me. the fact that you closed the trade near highs around 1140, shorted, and then covered at the correct time around noon. there was no doji, no smaller candles, what gave you an indication of direction change? just momo? do you watch the level 2/time and sales do decipher this action? thanks
j-robably pure momo play as i dont exactly remember. i think though that APC was trading a bit on its own and lagging behind the others in its sector. after doing this for a number of years you develop "ticker sense" and are aware of things, syncronicities if you will,between charts and markets that just tell you when to make the right plays. of course you need to be open to acting on them even on a subconscious level. after all, the people that are moving the markets are the ones making the dojis and signal candles appear by their actions. its your job a great trader to be as close to these market movers as possible. hows that for a vague answer sorry i can't exlain it any other way. its not luck it is playing the momentum and probabiities. watching L2 and T&S will do nothing for you except make you lose $. it will sap your concentration and make the game more complex than it is.simplify, simplify, simplify should be your motto.
thanks for the reply. i catch glimpses now and again of reading the momo correctly so i understand what you are talking about. it goes back to what dtf and i were discussing today, tacit knowledge, which you mentioned on the other blog awhile ago. i appreciate you taking the time to try explain what you are seeing.
3 comments:
in replaying the APC chart today, this is the more magical trade to me. the fact that you closed the trade near highs around 1140, shorted, and then covered at the correct time around noon. there was no doji, no smaller candles, what gave you an indication of direction change? just momo? do you watch the level 2/time and sales do decipher this action? thanks
j-robably pure momo play as i dont exactly remember. i think though that APC was trading a bit on its own and lagging behind the others in its sector.
after doing this for a number of years you develop "ticker sense" and are aware of things, syncronicities if you will,between charts and markets that just tell you when to make the right plays. of course you need to be open to acting on them even on a subconscious level. after all, the people that are moving the markets are the ones making the dojis and signal candles appear by their actions. its your job a great trader to be as close to these market movers as possible.
hows that for a vague answer sorry i can't exlain it any other way. its not luck it is playing the momentum and probabiities.
watching L2 and T&S will do nothing for you except make you lose $. it will sap your concentration and make the game more complex than it is.simplify, simplify, simplify should be your motto.
thanks for the reply. i catch glimpses now and again of reading the momo correctly so i understand what you are talking about. it goes back to what dtf and i were discussing today, tacit knowledge, which you mentioned on the other blog awhile ago. i appreciate you taking the time to try explain what you are seeing.
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