Pity one can't trade the past...
Isn't posting past performance the same as trading the past?
If you feel the need to impress somebody, post your trades in real time.
Does trendline work?
- Thread starter GloriaBrown
- Start date
If you feel the need to impress somebody, post your trades in real time.
Come again?
Not really. It was just an invitation to @Redneck since he doubts my abilities and implies he's a superior trader - which he may very well be. However, without any data, it's all just talk, which quite frankly there's a bit too much of on these boards.
That said, I've posted a ton of calls and trades in real time on these boards in the past, but that comes at a cost, so I think I'm mostly done with that. At least real time trades.
Trendlines are a tool in trading, but just drawing them doesn't mean you'll always make money. How you use them with other strategies and being careful with your choices matters most.
You have to take everything on an anomymous forum with a gain of salt.
I wouldn't take anything as gospel with out some sort of audited statement.
I keep asking myself why the hell I'm here and the only answer I can come up with is that it's one of the places where I can discuss trading with others.
I like to challenge common wisdom. I might be able to help someone and some of the discussions are entertaining. Maybe it's just a method of overcoming boredom.
Back to the point. Posting your performance without some kind of audit isn't much different than posting a chart showing where you bought and sold.
I could post my August performance showing whatever percentage you would like on a photo shopped brokerage statement, but without some sort of proof of authenticity, it's worthless.
FWIW I take everyone at face value until they change my mind.
is the RSI setting on 14 days ?
Well, personally, I'd still like the performance report. And then I can judge myself if it's photoshopped or not.
I'm just tired of all the talking, lecturing and posturing, on ET - especially when I know that so many just can't back up their talk with actual trading results. This is easily recognized when you've been around for a while. Not to mention all the people here who actually were exposed through the years.
For me, ET is just water cooler talk, although there's a few guys here I pay attention to when they post (usually not so frequently). For my own trading, I focus on learning from the market itself and refining my own method. That's where the answers can be found.
Pivots - based on closing price, not spurious high/low wicks where dumb money traders got suckered into buying/selling.
BTW same on any timeframe, any market.
There's some pretty good artists here who enjoy drawing creative lines on their hindsight charts.
Here's a challenge for you all.
Draw out a trend line leading up to present time and give us a signal based on said line. And let's see how it works out.
I won't be holding my breath.
I don't mind, here is a trendline real time on D1 TF.
If the TL breaks and the price consumes the demand to the left, then a retest of the broken TL could be a short opportunity.
Trendlines are just tools and not a system and needs to be viewed and used in the proper context, just as a carpenter knows when to use hammer and when to use a saw. Context is king.
Personally, I think horizonal lines are better than sloping lines on lower time frames, nevertheless, sloping trendlines can be still useful on higher timeframes when they’re obvious and other traders will be paying attention to them.
Either way, whether it is trendline, or a pattern, there needs to be PA action present to make the pattern to come “alive” because without signs of selling/buying pressure it will be just a bunch of lines.
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Hi @Onra, if you want to use trendline to identify possible trendline breakout areas, then the blue trendline you drew should be drawn as an outer trendline connecting minimum of three major swing points.
Also, a ‘retest’ can occur only after the initial breakout, and there was no breakout when the chart was posted, therefore there was no ‘retest”.
See the chart below with explanations, I hope it helps.
Also, a ‘retest’ can occur only after the initial breakout, and there was no breakout when the chart was posted, therefore there was no ‘retest”.
See the chart below with explanations, I hope it helps.