A simple price action approach

[galvinlee888]

Quote from IanMacQuaide:

NoDoji , if YOU wrote a book, I'd buy it!
Seriously, your writing style is clear, concise, cogent, and reader-friendly.
Write the book.
Your posts are helping me a lot. Thank you.
Ian

Jack - you should get a mentor like NoDoji, it is always not too late in trading

 

[killingtheta]

Thumbs up to everyone who is making this thread what it is. As I am heading into the Autumn of my professsional career, I am taking my trading much more seriously. I have been a sucessful swing trader and options writer for some time now, but have had the hardest time mastering the intra-day scalp. Now, with much more time on my hands, I am devoting most of the day, every day, to the 5 minute chart. Tomorrow starts my 3rd week. Mostly taking notes, actually trading on a sim or just one contract if I just can't stand to see a retracement pass me up. The hardest part for me is to sim trade and not actually trade while I am learning, but I have an agreement with my wife to keep it small (no pun intended) and to keep a detailed journal until I am consistent and confident.
You guys (and girls) are a big help. Please keep this thread going. Thank you all.

 

[IanMacQuaide]

Quote from galvinlee888:

Jack - you should get a mentor like NoDoji, it is always not too late in trading

I'd be honored and very appreciative.
Haven't worked up the nerve to ask.
Yet.

 

[oilfxpro]

Quote from IanMacQuaide:

NoDoji , if YOU wrote a book, I'd buy it!
Seriously, your writing style is clear, concise, cogent, and reader-friendly.
Write the book.
Your posts are helping me a lot. Thank you.
Ian

Don't write books , only failed traders write 'em

 

[Tonkadad]

She has written a lot on ET already, just do some homework.

Put it out there see if anybody is interested in compiling here posts as a group effort and go over the details of her posts. That is the best way to learn.

After you have put the work in ask her intelligent questions.

 

[oilfxpro]

Here is simple chart .Please explain to me what price action analysis would be applied to the large reversal move.


To me it is simple reversal.

 

[Bakinec]

 

[ammo]

oilfxpro,this is your chart s/r in larger timeframe

 

[Lojanica]

Quote from ammo:

oilfxpro,this is your chart s/r in larger timeframe

Speedy reversals often seem to have hit key S/R areas and as suggested here a longer timeframe can shed light on where those S/R areas reside. It's as if the bigger players are patiently waiting like a spider in the web for these oppotunities and when taken represent a nearly risk free trade. Either up or down. Emotional trading creates opportunity for the patient trader.

Yes?

 

[SnakeEYE]

Quote from jack hershey:

Its neat to see so many people keep changing one that works.

Certainly there is an answer.

Inaccuracies.. and build your system from there.

Start with the finest size (ticks)

On any chart adjacent bars allow you to build rays.

you find out two things in the process:

1)you are in according to the RTL sentiment.

2)as an "internal" is appearing on a RTL. you have to slow down the trend at this point simce price is just meandering along the RTL on lower volumes,look back a bit,fan the RTL from the point 1 where your hold began and duplicate (clone) the RTL and put it on the point 2 you are now ALREADY USING.

OODA trading?I think not

some will nest fractals but skip and jump fractals in the process.

THIS ALL CAN BE SO EASY IF YOU USE PRINCIPLES AND THEIR ORDER OF EVENTS.