Ghost of If You Can Draw A Straight Line
- Thread starter dbphoenix
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While it's nice that so many people view these charts, viewing charts and reading journals and reading books and reading posts and reading whatever else, much less "looking" at charts, is not likely to put a single dime into your account.
If one wants to progress, he must begin to develop a plan. A large part of this involves observation. This applies whether one is interested in the SLA presented here or in an indicator-based approach, whether stocks, futures, or options. Without a thoroughly-tested and consistently-profitable trading plan, a wannabe trader is just, shall we say, pleasuring himself.
If one wants to progress, he must begin to develop a plan. A large part of this involves observation. This applies whether one is interested in the SLA presented here or in an indicator-based approach, whether stocks, futures, or options. Without a thoroughly-tested and consistently-profitable trading plan, a wannabe trader is just, shall we say, pleasuring himself.
While trading what may be a market top in real time is fun, that old devil bias should not be allowed to color perception. We are currently 15pts above the mean of the March trend channel. We may reach the upper limit of that channel today or over the next two days. Or not. But even if we do, the trend is still down, and the uptrend won't resume unless and until we get past 3800.
Therefore, focus on the March channel, posted Friday and again Monday. Trouble at the upper limit calls for a reversal trade. Play the hand you're dealt.
Therefore, focus on the March channel, posted Friday and again Monday. Trouble at the upper limit calls for a reversal trade. Play the hand you're dealt.
Thanks
Now that I'm looking at a 1 minute chart instead of a tick chart I'm noticing that liquidity seems to usually pick up right at 4 am. Is this due to a specific exchange opening or something else?
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