I thought he was making a pretty good point. Refuting my oft repeated claim, Most of the time it chops. Or at least it seems that way if you are trying to pay for many hit stops.
80% of the time
- Thread starter fordewind
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Yes but didn't he say most of the time it trends?
Here lies an illusion the market 80% ranging.imo
I`d even say that it`s always trending.
Just think of any chart, any time frame. And imagine comparing the left most bar to the right most bar. How may of those would appear to show a trend? 80% sounds about right.
let me try to workout what you are trying to say
these are rough examples
1= when the market is trending, lets say 1 hour chart,we have a pullback,we look at the 5 minute chart we see a trading range
2= what we consider a trading range on a 1 hour chart,we draw our so called support and resistance levels ,we can zoom in to a 5 minute chart and we see a bull trend leg to the resistance level and a bear trend leg to a support zone.
is this what you are trying to say
For the sake of this thread, let`s just stick to the market trending vs market ranging % wise.And skip pullbacks, different timeframes, etc...
No, Just stick to one chart, any chart. If you look at it from beginning to end is there a trend? Or does it end up right where it started? Forget for a moment all the volatility you had to go through to get there.
Depends on what timescale you see things,
But generally speaking, I would say when you look at the overall day's range...it's more often finishing neutral rather than an obvious upward or downward trend.
The true skill, however, in trading...is the ability to foresee or gauge the day's major up points and down points
Capitalize on those noteworthy gyrations, rather then just settling for the relatively measly average,
The markets rarely move up or down smoothly -- usually there are minor storms you have to weather first, or throughout the trading day.
The key, and harder point, though...is determining what's a meaningless gyration, or the real deal turn.
Everything is crystal clear and rational in hindsight, but in the thick of the battle...your mind is pulsating a million times, constantly questioning things and second guessing yourself.
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