Those are Heikin Ashi candles. You could simply trade them as they are designed to be traded. In this case, the candles are signaling to be flat during the period of indecision candles and short the close of the trend candle.
How do you Avoid Chop without missing the break (intraday)?
- Thread starter zghorner
- Start date
Those are Heikin Ashi candles. You could simply trade them as they are designed to be traded. In this case, the candles are signaling to be flat during the period of indecision candles and short the close of the trend candle.
Im with you man, Fading the wicks is what I have been doing but Holy shit it hurts when there are 5,6,7+ doji candles in a row lol. I saw 9 in a row during liquid hours backtesting last night...murder.
Yes high probability of small reward or lower probability of large reward or even loss.
CL 1 and 5 minute trend way better lately than 15, 30, 60 minute charts.
Trend has been down since Oct 20th - here's the 1 minute showing 3 possible trades defined as close below the low of high close bar. Note the first example ignores the first two highs which were just extended wicks. I put a yellow line clearly showing rejection of prices above 3 times long wicks and 2 times going above by only a tick each.
The middle example is the only one where a short would have taken "some heat" before resuming drop.
Trend has been down since Oct 20th - here's the 1 minute showing 3 possible trades defined as close below the low of high close bar. Note the first example ignores the first two highs which were just extended wicks. I put a yellow line clearly showing rejection of prices above 3 times long wicks and 2 times going above by only a tick each.
The middle example is the only one where a short would have taken "some heat" before resuming drop.
Heikin Ashi wicks are "stay out" signals, not "fade the wick" signals. The purpose of the wicks is to warn of trading range price action.
zg, keep in mind there was no usual EIA crude stocks report last Wednesday.
"EIA will delay its scheduled data releases November 8-10, 2023, to complete a planned systems upgrade. We will continue collecting energy data from survey respondents and will resume our regular publishing schedule on November 13. See our latest press release for more details."
So be mindful this Wednesday 2 weekly reports will be released. May be nothing, maybe something. TWT
"EIA will delay its scheduled data releases November 8-10, 2023, to complete a planned systems upgrade. We will continue collecting energy data from survey respondents and will resume our regular publishing schedule on November 13. See our latest press release for more details."
So be mindful this Wednesday 2 weekly reports will be released. May be nothing, maybe something. TWT
When this occurs during liquid hours it tends to beat me up pretty bad. Best I can come up with so far is staying out when average volume drops and look to position on the first pop but would appreciate some tips from more seasoned traders. Setting channel lines with alerts? Any of you simply tighten profit targets and fade the wicks while looking to reverse if she breaks against you?
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trading hard.
It's a little simpler than that, when you get a university degree did you get it from Open University or Harvard, when it comes to trading very few are trained and therefore the knowledge base is a little lacking as it's self taught.
There is a 92% probability of loss 92% of the time, meaning if you are not in the top 1% you will lose profits and almost certainly underlying capital, for the few making a profit they have a combination that works for them, and only them, it's not a secret because it's not transferable but they need to believe it is because that's how human psychology works.
The secret is beyond simple, if you take stocks are 6.5hrs (390mins) trading per day you have an entry window of 3.9mins per day for profit, you have a few percent either side of that and you will be breakeven, beyond that you lose profits and capital, and trading against the trend unless you come from banking or have auto liquidation algos will evaporate accounts taking your mind, body and soul with it.
Every trader is trying to keep it within that window using their unique combination, where over days, weeks, months, years, it nets out to profits taking out costs and losses, this whole process takes around 10,000 to 20,000hrs to learn, the markets have every combination except two perfected, which they need to liquidate bad entries at breakeven and create profits.
Is there a fast track method, sure follow Buffett and invest in index funds or you pay to access Harvard level which costs $20,000/yr and elevates you at 10x the speed to 1,000 to 2,000hrs, but even at the end of that which would normally be 2yrs, there's no guarantee you would succeed because you might still misinterpret the knowledge, algos, experience, or worse chase the markets which never has a happy ending.
Go away, do your testing, and find that 1% window each day, I have algos that do it for me but then that's where 1,000s of hours effort went, learning them, even if someone gave you a strategy, an algo, a methodology the chance of you making profits is near zero, they still need to sit with you for a year or two making sure you interpret the data correctly.
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Unbelievable. The dude's a parrot, doling out the same damn answer every time. Don't you have any imagination? Be creative for once, huh?
Call him AI-listera lol.Unbelievable. The dude's a parrot, doling out the same damn answer every time. Don't you have any imagination? Be creative for once, huh?
the reason traders lose money is because of the bull shift that is churned out by logic such as what you have expounded in your post saying that markets are not rational. that you need some vague notions or system to be tested. of course time HAS TO BE SPENT to achieve anything great. there is a logic in markets and any method or system has to be cognisant of that or it will fail.
if you are not convinced that logic is there and has TO BE FOUND THEN YOU WILL LOSE A LOT OF TIME BARKING UP THE WRONG TREE
the contention that just because i do not know WTF is going on, the market is random is ridiculous.
FIND THE LOGIC OF THE MARKETS AND YOU NEVER LOSE IN YOUR LIFE
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