Do more of that which succeeds and less of that which does not - Dennis Gar
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How to avoid stopp loss...anyone doing that? 52 replies
DislikedThe cup and handle is mega, look at that chart i posted, it start with the marked 1, bottom of cup is 2 and the edge is 3, handle forming now, we are at the low of the handle....ah...that aside...i too do not really use it as a basis, but majority do... I bet the retest will spring the last low, by that I mean break just below to pick stops and come back to close within its range...could be a regular doji or a pinbar(dragon fly doji...for the detailed ones)Ignored
Disliked{quote} Slow but sure...its been a difficult summer. In answer to your question, yes I am into one position...currently a few pts negative and have a pending that just might trigger in a few hours or early during the Asian session tomorrow. I'll have to see after that...selling seems to be the "order of the day" but I'm really not impressed by the price follow through so I am bullish (for now). I am really interested to see how it pans out around 2,300.Ignored
DislikedMust say that I am rather disappointed in NGAS... But will give it a week or two... because I have finally seen markets "improving" in general rather recently (last week)... So let's see if NGAS will also follow the planned track or I might just drop it from the current (potential) trading portfolio...Ignored
Disliked{quote}I've never been good with fundamental analysis, but do understand at least that much. My focus is more in the order flow area and I am seeing buying take hold more and more, however, this buying is in a generally LOW volume environment. So that usually means shorts are cashing out but not really that "new" longs are coming in. However, once again we are challenging the top of last week's range so I will be keeping an eye on it. {image}Ignored
DislikedI love your colourful charts. I have no idea what they mean but shhh don't tell anyone...Ignored
Disliked{quote} I'm not sure what you "planned track" was...rising or falling...but as winter is about to strike and indeed in the US, there is unseasonably cold weather in the north the demand for NAT GAS "should" rise bringing prices with it...I suspect. I've never been good with fundamental analysis, but do understand at least that much. My focus is more in the order flow area and I am seeing buying take hold more and more, however, this buying is in a generally LOW volume environment. So that usually means shorts are cashing out but not really that...Ignored
Disliked{quote} I'm not sure what you "planned track" was...rising or falling...but as winter is about to strike and indeed in the US, there is unseasonably cold weather in the north the demand for NAT GAS "should" rise bringing prices with it...I suspect. I've never been good with fundamental analysis, but do understand at least that much. My focus is more in the order flow area and I am seeing buying take hold more and more, however, this buying is in a generally LOW volume environment. So that usually means shorts are cashing out but not really that...Ignored
Disliked{quote} Thanks for the observation, I do think that shorts cashing out may help turn price upward again. You are also right about how unseasonably cold weather would affect prices. This is why several of us have been waiting for spikes higher, most winters lately have seen some sort of sudden snowstorm crop up as weather patterns become erratic. I think a couple years ago we did not see a blizzard until February though so the timing can be really difficult.Ignored
Disliked{quote} Thank you for the compliment...they ARE kind of pretty!! They are simply a histogram of net (delta) buying and selling at each and every price level through out a given day. Each histogram is 24 hrs worth of order flow. Thus green = buying; red = selling...etc. as can be seen the net buying (for today) occurred just above the open and has continued through out the day causing price to rise...very simple!! Even I can understand it. I find that knowing the levels where overall net buying and/or selling occurs is far more accurate than "normal"...Ignored
Disliked...I've seen those market profile thingys and they look like pictures of pork chops...Ignored
Disliked...New positions as opposed to closing out an existing position? I think I remember you mentioned, somewhere, short covering. How does the data provider know this information?...Ignored
Disliked... Probably obvious that I am no fan of fundamentals (except as a passing interest) or chart patterns (unless the writer has actually read Edwards and Magee) or Elliott wave or Gann and some other stuff. Candlesticks is another one. I can think of more, but that'll do.Ignored
Disliked{quote} I was reading just two weeks ago that Montana has 4 feet of snow and that Colorado had the 2nd biggest 24 hr drop in temperature in recorded history. So I'm thinking the next "deep freeze" is already in it's way. I have already made my annual migration south but even before I left my family in California the mornings were dropping to 38 f (3 c). Which is extremely cold for October. Usually we are still barbequing for Columbus day and Thanksgiving.Ignored
Disliked{quote} Based on my experience weather patterns in the NE have much greater impact on nat gas prices generally speaking. If I remember correctly it has to do with the distribution network and how particular areas deal with peak demand in combination with population levels. My guess is that is the weather in Montana and Colorado was instead in NY and Philly we would see a much different price reaction.Ignored
DislikedYou ask some excellent questions. Some I can answer....some are simply conclusions I've made from observing Price/volume behaviour. {quote} You are a visual learner aren't you...me too! {quote} Net (or Delta) buyers/sellers are simply the number or orders transacted at a certain price, and whether they were a buy (transacted on the bid) or a sell (transacted on the ask). While not always true, most market orders are matched with liquidity available at the price in question. Thus, anyone who transacts a "buy at market" is transacting on the bid and...Ignored