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Saturday, April 01, 2006

Top Ten Millionaire Counties

My current locale ranks #6.

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7 comments:

TraderEyal said...

Interesting. Is there a reason why 4 out of the 10 are in CA?

Dana said...

Yeah - I think you have to be a millionaire to live there!!!

BL said...

Looks like Glenn of DehTrader called it quits Friday.Didn't look like he had the patience for tradfing. HANS?

Michael said...

X - I'm an avid reader and thank you for the wonderful site! Is there any way you can devote some more time to showing charts of failed setups (after entering) and the art of gracefully bailing out? Two on the long side that come to mind from Thursday (3/30) were CCJ off the 3rd bar and PD off the 2nd bar. Did either of these raise red flags before the reversal happened?

C.D. said...

Not that I was asked, but I don't see the entry in CCJ. And, the 1st bar in PD moved almost 5%, so it was a risky entry if you were looking for more. Just my 2 cents.

Dave C said...

Hey Michael,

I thought I might chime in as well (hope you don't mind).

CCJ moved very strongly the first bar although some kinks were starting to show in bar 2 with a long upper wick. Hindsight is always 20/20, but considering how much it's moved up (through bar 2) and the fact that it leaves an upper wick in conjunction with what I see as a hangman in bar 3 might give me some pause.

PD - A possible flag here might be the long upper wick of the first bar. Those upper wicks can be deadly!

Just my 1.5 cents.

Trader-X said...

CCJ - my target is the Fibonacci extension from the previous day's low to the OR high...your entry was already 1/2 way to the target, so I would not have taken that trade...

PD - reader C.D. was correct - the first bar was a huge move from low to high...my concern there would have been that the up move had exhausted itself in that one bar...that combined with the upper wick mentioned by dave were red flags.

Bottom-line, IMO, there were better trades out there.