Recent content by dv4632

Cornix, have to say I see some of those tl's as a point of confusion. The ones where you connect a swing high and with a second swing high that is not followed by a lower low. From what I have read, a tl is denoting a trend in one direction either a high and a higher high or a low and a lower...

And stuff like this.... I try to keep an open mind but have to call a spade a spade on this one. This is hindsight art, not real trading. On a couple of those trades there's no way you could have had the channel drawn that early in the chart to even be able to trade off it. It would be...

What I always tried to do was avoid confusion. I would look for the largest, most structural channel or tl in the chart and focus on that. Something that had at least one higher high or lower low in it. It meant less opportunity but I was ok with having days on which no trades presented...

Well yeah, I had noticed you didn't use tl's for many trades in eur/usd from way back last year and that now you are using trendlines even less. Wasn't really putting up the charts to make a point to you, more just something to show some troubles I had and the realities of trading a method...

or this... :p I was never able to make enough from the winners to cover all the losers. Though they did seem to go through "cycles"... where for a few weeks or so they'd be net profitable, and then would eventually cycle back to unprofitable.

or this.... :)

I never found the euro very reliable for trendlines. It seems that for every one that looks like that, there are 3-4 more than look like this...

Just for fun, here's what I had drawn yesterday morning before the open, and how it panned out.

Yeah, daytrading has it's advantages. If you're good at it, you can use a lot of leverage, much more than you could for swing trading. Maybe my stops are too tight, or my entry triggers stink, not sure why daytrading hasn't worked for me. In any case I needed a break from it... Ammo, are...

Agree of course. Some weeks ago I mentioned my daytrading sabbatical to another trader, and he said "if you're profitable swing trading, simply day trade in the direction of your swing trades". A good idea for sure, and taking this into account and applying it to old trades in my records...

Another question for channellers: Do you make a distinction between trades involving the trendline and trades involving the parallel, or do you consider them to be equal in terms of importance?

At what point do you discard a channel and redraw? I know there's no right or wrong answer but am interested in a discussion on this. For intraday I was discarding after the third cross of one of it's boundaries. Meaning price can break out of a channel, can break back into it (failed...

I remember this thread and how promising these methods seemed to me at first. So, has anyone used any of these methods to day trade successfully? I went through my old channel daytrades and tried to add a big picture context, tried to come up with specific rules on how to draw channels...

I never had consistent success doing stuff like that intraday. But channels did work better than anything else I tried. When I think about it now, the big money that moves the market likely does not know or care about channels or ma's on 5-min charts. So maybe I was trying to be too precise...

I tried all that stuff and was never able to be profitable as a day trader. The best results I had were when I was using channels and trendlines, but even then I was a scratch trader overall.