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Be meager with withdrawals.
Hi slacker, I place stops based on resistance levels. Trade on as little emotion as possible. This trade is a bit complicated and i would not have gpslin it myself but after talking to Goxlin Goslin today I have decided this to be a good trade. NQ was the most positive and Dow the least. I follow several market groups: Attached is a picture of the NQ. Intermediate term pressure as seen through the ML is the second most important, with short term pressure being the least important.
Your name or email address: This method is highly subjective. The stocks performed as planned for today. However I will not let it be that way forever. The guy is a trader through and through. Read the book and liked it as well. Yes, my password is: Goskin to you manage risk? A dramatic drop in price would change that strategy however. Basically the trend supports this trade but the ML does not.
You must log in or sign up to reply here. Stops are usually fail safes to prevent against very sharp selloffs.
F H Chick Goslin Books – Biography and List of Works – Author of ‘Trading Day By Day’
I respect your goals and I think that is the way to go in this game. Any more upside tomorrow would once again turn the SL up and create a higher low in the SL.
This is about as good of a day as I can hope for. Yen did not catch my limit order yesterday but I shorted it today at 9. Not doing much intraday trading helps enormously with this. As expected, the SL turned down today. I do not try gospin time these brief moves anymore, for all I know there may not even be one. I missed the whole down move namely because I kept trying to guess a bottom.
Chick Goslin (Author of Intelligent Futures Trading)
Very glad to see this journal, and I agree, it was a shame to see Chick cancel his letter. I golin don’t trade that heavy.
I’ll post a screenshot tomorrow. The idea is to trigger the buy stop effectively an entry order only if the price momentum is shooting up and hopefully the momentum will be enough to catch the sell limit to exit with quick profits.
F H Chick Goslin
Short copper, trying to short bonds Long stocks Trying to dump crude oil at a loss. Ask any questions and I will answer.
I have 3 primary technical indicators I chico This line take the last 3 days of price average and compares it against the last 10 day average of price. Between him, Don Jones and me working my ass off the past couple years I developed an excellent method.
I use some very bare bones technical indicators. Very cool idea on the goals, etc. NQ has a strong tendancy to lead the dow so this is a good upside sign. I do want complete financial freedom, the ability to do as I please with my time.
My Chick Goslin “Intelligent Futures Trading” Journal
I may go in at market yoslin. Thanks guys, feel free to post any time. Do you already have an account? I have a limit order to short 4 bonds at No black boxing here, it requires a brain to analyze what the indicators are saying.