Chop
- Thread starter kut2k2
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It's the social nature of the world today. Only like-minded individuals click the "like" button, and that button is how the like-minded make judgements. Pity really. Will be interesting to see how ala-carte cable stations will affect things when a financial decision to subscribe to the cartoon network and/or discovery channel will be required.
It does not need to be complicated but it is if you do start with the wrong foot.
The key to it all lies in your market state identification, trending or ranging, then apply the appropriate strategy to your initial market state read.
You need one strategy for ranges, and one for trends.
Trade trend-like strategy in ranges, and most likely you lose.
ie Expecting HH HLs or LLs and LHs in ranges
Trade range-like strategy in trends, and most likely you lose as well.
ie Picking tops and bottoms in trends
If you cannot formulate a working strategy for ranges, then when you ID the market as rangy, stay on the sidelines.
The key to it all lies in your market state identification, trending or ranging, then apply the appropriate strategy to your initial market state read.
You need one strategy for ranges, and one for trends.
Trade trend-like strategy in ranges, and most likely you lose.
ie Expecting HH HLs or LLs and LHs in ranges
Trade range-like strategy in trends, and most likely you lose as well.
ie Picking tops and bottoms in trends
If you cannot formulate a working strategy for ranges, then when you ID the market as rangy, stay on the sidelines.
Actually it's the social nature of ET. There are other sites where discussions like this don't degenerate so quickly. Or at all. Mark gave a fine definition of chop v trend v range, but let's whiz past that and argue.
Chop and range are not the same thing. Nowhere near the same thing.
To illustrate:
Draw two big squares on the wall.
Draw a W inside one.
Fire a shotgun into the other.
One of these illustrates ranging.
The other illustrates chop.
No, actually he didn't. He talked about the terms being different but there was precious little on specifics.
Did you read the threads to which he provided links? Why do this all over again?
Because words matter. Details matter. I look and didn't find those "fine definitions" you referenced, yet you're irked that people seemingly passed right over them. Why? There's no there, there.
Unless you can give a direct quote or a direct link (not a link to some 12-page thread that *may* contain a definition), then seriously, what do you expect?
And if you're not interested in reading what's already been covered, why bother to begin again?
There are over 3.5M posts here, all of which may as well be deleted because nobody wants to or perhaps even knows how to use Search. And so another argument about "chop" and "scalping" and who's lying and who isn't about making this or that amount of money.
Silly.
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