How do you use TRO's indicators? Post screen shots.
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hi zapzing, thanks for the screen shots.
a few questions, and i'll see if i can build one from today.....
you have a few 'grey squares' where the price breaks through a trendline. what allows you to play them as breakthroughs instead of support/resistance spots that would expect reversals. hindsight being 20/20, i would find it difficult for myself to not take a 1.40 loss before i decided it was a breakout through the TL.
i guess i'm trying to understand your risk/reward strategy based on the setup and the type of day.
also, on 9/23 i don't see the resistance TL at 11:30 that was broken (and elipsed) until it hits the TL at 723.60; just curious.
todays screenshot looks pretty cookie cutter and unlikely i would have traded it as well with real money. unfortunately, its much harder to be honest when paper trading. i may just have to go live soon with 1 contract to get real experience.
the short at 13:00 would have been hard to hold, but could have broken even. the long at 13:35 seems pretty easy and also worth holding until the pink resistance lines. ideally, when it breaks above the 3 lines at 14:35 (square), it would have been a hold until it hits the red tl from earlier.
a few questions, and i'll see if i can build one from today.....
you have a few 'grey squares' where the price breaks through a trendline. what allows you to play them as breakthroughs instead of support/resistance spots that would expect reversals. hindsight being 20/20, i would find it difficult for myself to not take a 1.40 loss before i decided it was a breakout through the TL.
i guess i'm trying to understand your risk/reward strategy based on the setup and the type of day.
also, on 9/23 i don't see the resistance TL at 11:30 that was broken (and elipsed) until it hits the TL at 723.60; just curious.
todays screenshot looks pretty cookie cutter and unlikely i would have traded it as well with real money. unfortunately, its much harder to be honest when paper trading. i may just have to go live soon with 1 contract to get real experience.
the short at 13:00 would have been hard to hold, but could have broken even. the long at 13:35 seems pretty easy and also worth holding until the pink resistance lines. ideally, when it breaks above the 3 lines at 14:35 (square), it would have been a hold until it hits the red tl from earlier.
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Hi Jason,
The grey squares are showing breaks of tl with no support/resistance dots. You could play them as breakthroughs. I am looking in to the best use of these breaks.
Here is what I did today, 12:00 sold at retrace to open 726.00 red dot exit at 724.70 prevmid +1.3 could have stayed in a little longer but there was a lot of chop around the mid today.
13:35 buy at 728.20 blue dot and sup tl exit at 13:55 729.40. Market could have gone up more here but when it crossed the 60 mid I exited. +1.2
14:45 sold at 733.60 red dot and tl and close of gap from 2 days ago +.50 profit. Market not right on trendlines today and when it is choppy I prefer to take quick scalps.
I did not buy at 12:05 (grey square) since the market was stuck at the prevmid and could goeither way. There was no tl yet either the 10:50 and 12:05 blue dot made the support tl.
At 14:35 where you drew a grey square, I would not have traded. I was waiting for a move to the resistance tl and got it at 14:45.
If the market does not define a clear entry do not enter, wait.
I think you are picking up the trendlines and identifing the moves very well.
--zz
Not every day is textbook and there is nothing wrong with waiting for the days that are until you are more certin of your entry and exit.
The grey squares are showing breaks of tl with no support/resistance dots. You could play them as breakthroughs. I am looking in to the best use of these breaks.
Here is what I did today, 12:00 sold at retrace to open 726.00 red dot exit at 724.70 prevmid +1.3 could have stayed in a little longer but there was a lot of chop around the mid today.
13:35 buy at 728.20 blue dot and sup tl exit at 13:55 729.40. Market could have gone up more here but when it crossed the 60 mid I exited. +1.2
14:45 sold at 733.60 red dot and tl and close of gap from 2 days ago +.50 profit. Market not right on trendlines today and when it is choppy I prefer to take quick scalps.
I did not buy at 12:05 (grey square) since the market was stuck at the prevmid and could goeither way. There was no tl yet either the 10:50 and 12:05 blue dot made the support tl.
At 14:35 where you drew a grey square, I would not have traded. I was waiting for a move to the resistance tl and got it at 14:45.
If the market does not define a clear entry do not enter, wait.
I think you are picking up the trendlines and identifing the moves very well.
--zz
Not every day is textbook and there is nothing wrong with waiting for the days that are until you are more certin of your entry and exit.
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