Replies to post #49420 on ETF SWING & DAY TRADING

[Duma]

Little Chico - I was delayed one 30" bar this morning because I was waiting for ChOsc to print two down bars. I shorted the Q's at 42.26, so I got 138 ticks or 3.3%. But I am starting to do as you have posted. Now when I get a 30" signal I go to the 5" chart to make sure I am not entering during a short term reversal. Excellent idea.
Jon

[Duma]

Little Chico - This morning I got stopped out by 1 tick just as the market was reversing and made another .5% dive. Using your logic of looking at the 5" chart after getting a buy/short signal, I later looked at the 5" chart at the time I was stopped out. What I saw was a clear topping out candle at the time of the stop followed by what was soon a good short entry based on a very nice double top on the C14 and the fact that I would have been trading with the long term trend. I will keep an eye on this and see if it is really a usable strategy.

Woodfish is the moderator for this board, but he not active in it that I can see. Would you be interested in taking over his position, assuming he would give it up?

Jon