Chronicles of an Idiot
- Thread starter VisionTrader
- Start date
OK, I could spot it on the next chart, but I am still curious about the first one. Different timeframe?
Yeah, that was a 3 min chart. Now, I got it...
So the reason you did not take that trade was because you could not see any divergence on the 3 min chart? Well, that can limit the number of your trades considerably. MACD even on 1 min charts is already pretty stringent as a filter. You don't even need any stochastics to confirm it most of the time.
Wally,
I think this is the chart from your first question. I have circled what I call an "elbow' in the stochastic. Whenever this condition occurs, it is very powerful. Elbows usually take place when the sto is trying to hook down but can not because demand is pushing it up. The elbow in this example takes the place of the (normal) higher low that would have occurred. You would want to enter on the green candle that confirms it and generally look for two points. Remember, price has to make the double bottom. It does not happen frequently. Today, if I recall there were several.
Does this answer your question. I am a little confused at what you are asking??? Give me more specific times and trades.
Also, the M3 example that I displayed today is one of my filters. If you study what happened in the circle on the M3 chart, and look at price action on the M1 VisionTrade chart, you should make a very surprising correlation. If anybody is curious about this let me know. Don't want to throw things off course here.
Take care.
Quote from VisionTrader:
Not sure what will happen here, but this is developed across mulitple time frames. I may let the first 1M buy signal ride, but then again. Who knows.
Out @ 987.75 +2.5
I got a couple warning signs. Took my scraps
Thought this was sort of interesting. Here's the 1min and the 133T on this sell you had today. The 133T also gave a nice signal,
just a different pattern.
Did I read in one of your post you thought 133 was close to the M2 chart?
I tell you....one thing that concerns me with all this is the fact that you have traded this system and it was not really profitable for you. Having success here is one thing, real life can be a different story. I wanted to go on record here in the journal to put some pressure on myself and be accountable. So far I am relatively okay with my trading. It definitely needs improving mind you, but I am okay with it.
I don't understand why it did not work for you. Yesterday for example, the system did not really work for you. I know you were using a simulator and I am not, but even if I discount a little for that, I am perplexed.
Do you have any thoughts on this? Am I heading down a wrong path or what?
I don't understand why it did not work for you. Yesterday for example, the system did not really work for you. I know you were using a simulator and I am not, but even if I discount a little for that, I am perplexed.
Do you have any thoughts on this? Am I heading down a wrong path or what?
Thanks man. I really hate for you to take the time to do that. Not necessary. I feel guilty
