Grinding
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Then obviously I lose a little money, but no where near the profits I've made.... The times that happen, is monumentally less than the times where it has saved me from dropping 2 support levels lower.
It's a very common practice to hold a stop, and I'm not going to waste any more of my 15 messages for the day, aside from this one, to point out how important this is.
It's worth losing a little to gain alot. Not worth losing alot though.
Win some. Lose some. Win big. Never lose big.
Have fun waiting around for your news. I'm not wasting my breath here to try to hurt anyone, only help. It's probably the hardest thing to do in the stock market, is understanding that charts are key.
Anyone who argues against charting, is literally pointing out how little they know about the stock market, how much of a "noob" they are, and basically adds you to my prayer list of people I hope don't get screwed, because you're using the market to gamble, rather then as a skilled sport.
PS, I'm not perfect, no one is. I forgot to set a stop as I went to a meeting a few weeks back, and after buying at 2.88, and seeing it go to 3.10.
I came back from the meeting, let emotions get the best of me, decided to hold and hope for a bounce, and instead I'm stuck bagging some shares from 2.88.
All I can say is good luck. With charting you wont buy exactly at the bottom, and sell exactly at the top. But You'll make your money in between there.
Charts is about how you read them. Like you said, if it was that easy, we would all be rich.
With that in mind, to me, charts are showing me a double bottom, potential reversal. I could be wrong. As you said, if it was that easy, we would all be millionaires.
Because of that, I have a tight stop. My stop is at 2.85.
We shall see. Because of charts, I don't have to wait for news to make money.
Sadly, I'm a pu$#y, and rarely hedge DWTI, but as many here do, it proves optimal.
Yes it told me to buy, however, i bought the day before.
Yes I sold at resistance, as it shot up very quickly, revealing a naked bar as it gapped up, and naked bars always get retraced.
So because of the charts, I sold at 2.19, after buying at 1.945. Added more to my core today at 1.91, as the bar got covered already back down this morning.
Naked bars almost always get covered I have learned, and considering how close we were to this bar, it was only a matter of time.
Why the chart was right? The chart doesn't care. It just does what it does. If you want to blame the bar getting covered by an "overreaction to the FED meeting", then go ahead, but the chart doesn't care about what you blame it on, it just does it.
Bottom line, I profited because of charts, did you?
OMG! MAGIC! HAX! LIES! YOU USED THE NEWS CUZ CHARTS DONT WORK STOP LYING HAXOR! #FIBONACCIISNTREAL #PATTERNSARENTREAL #YOUDONTKNOWTHEFUTUREBRUH
The charts definitely showed that a reverse was inbound. Exact days and times and amounts can vary, but the charts were showing a reversal for sure. They're still showing that the price will hit a few more bars. When? We'll see. But I'm definitely adding to my core and being prepared for it. Maybe the "news" on friday with the rig report will be what makes the charts work. But who cares what makes the charts work, as long as they work, and they do.
So news alone makes the price when it comes to oil? MM's can't help keep the price to a certain point? The fact that oil has gone both ways, both up AND down, all on bad news? Oil is a very manipulated commodity. News isn't going to help you here. The charts don't know about the news, and they don't care about the news. But they do what they do, and if you follow the charts you will be fine. You can always look back and be like oh, the charts turned out right because of X news or Y news, but the truth is, the charts didn't know about the news. They just did what they did. The charts show we have some bars to fill, and they will be filled. This manipulated market will spit some news to fill them, don't worry. The charts show it will happen. You can say it's the news doing it, but it's the charts proving true.
So basically what you're saying is, that somehow you get news before everyone else and are able to act on this news?
Also, you are saying you fail to make money, as charts can definitely give an idea of the future.. They don't lie buddy.
Charts don't matter to these new people, the dollar doesn't matter to these new people. I've tried to point out the value of the dollar, as well as you, Neb, and others, but they're not listening. I've given up and not making any more effort to point it out as they blindly argue it I feel foolish trying to point out the obvious. They will learn when they miss the train or ride the wrong one.
Dollar having a dead cat bounce, that is all. Inventory is already factored in. It's the dollar keeping it up. The dollar has been going up for two weeks, in hype of this meeting. Time for it to learn its place and go back to it.
Not if the dollar goes down to an 80 handle.
The after hours volume is real. Follow the axe. Many big trades.
Link please.
Exactly this
Lmao. Hey man, can you stop posting non real charts please? Thanks!
http://www.livecharts.co.uk/MarketCharts/crude.php
Not sure where you're getting your prices from. Links? The above isn't showing what you're saying.
Yes sir. Real life events that line up perfectly with the charts. (As in, just in time for this gartley 222). And as RB and cyclical have been saying, that 12 dollar naked bar will get filled soon. Seemingly summer. Bad news is there to scare out the untrained investor. But who knows. Going by the charts, it will be fine. Longest i ever have, and ever will hold an ETN. Oil being oil, this is the one exception.
Yeah the butterfly is beatiful and clear. Gartley if I've ever seen one.
Lmao yeah they were. If the report tomorrow shows 6m excess or less, we'll see 2.08-2.14 uwti.
Eia going to report no excess this week watch. Api estimated too high for 2 months in a row. The over compensated and under estimated these last 3 weeks. This is the week where they go back to their old ways and over estimate again. Watch. Uwti went from 2.83 to 3.30 in one day last month after the eia report revealed 4m excess as opposed to Api's 13m estimation.
Under all other circumstances, I do. But even if this R/S, the profits are the same if oil goes to say 70. At least from my math, with 1/10 shares. since those shares are at a higher amount, the percent of the higher amount makes up for it. Normally it would be bad, as it's a sign that ETF/ETN is going under, but this is different since it's oil and bound to go back up. Hopefully at least. But we'll see. I won't be losing sleep over it if not.
Lettuce Pray. Added 4200 shares @ 1.945 pps to my 401k brokerage account.
That interest though....
Dollar still dropping. Lets go! Scare out these 2.20 Friday investors into dumping.
Hedging DWTI is not a bad idea at all. I need to obviously. But I'm always scared as f@#$ of DWTI at these levels.
If it does reverse and become a double bottom, look for a triple bottom reversal later on. Funny how the double bottom is right on track for both the EIA report/ the FED meeting. Funny how the chart patterns play out just in time for what could be the reversal.
That high dollar from all that hype seems to be dying down. Lets see it fall down further. That meeting will say that there will be no rate hike until 2016/2017, not in June. Dollar going to plummet come the 17th.
Here we go. Lets see how she rolls.
I doubt this will R/S unless it stays these prices for half a year.
Incoming gap and trap monday.
Was in a meeting with a client. Heard the news before I came back to my office to check these posts/charts. I'm surprised someone even brought it up at the meeting, I guess phones were checked.
Not according to the broker my company uses for our 401k/brokerage accounts. I contacted before. it's just a different portfolio, instead of using pre made portfolios, it's fully customizable.
Well since I'm invested full in UWTI right now, went ahead and switched my company 401k to a brokerage account. Will take a week for the funds to transfer. Bears Stay strong one more week for me please.
I'm young enough to make it back if oil decides to randomly fall off the earth. in the next year before I sell.
Good call. Even if your 40 does hit, I don't think it's worth the risk. Take what you've made and don't regret.
Very Solid. Now lets hit that Bar at 10-12.
That sub 46 doe.
Yeah I was just figuring the P5 may back down if we do. Or at least the UK. I mean, personally, I wouldn't trust Iran with the proposed nuclear program.
I thought Obama's willingness was bad enough. Sigh. This deal better not go through. After elections next year it won't stay that way anyways and they've been warned. Fucking politics.
Lettuce Pray