How do you Avoid Chop without missing the break (intraday)?

[schizo]

What's important to distinguish here is WHEN do you call something a range? Somtimes, it's difficult to say it is a chop when it's merely a pullback. Here's the difference.

 

[schizo]

So the best thing for you to do is discern whether this is a pullback or a sideway chop. Not easy at first, but with practice, you can do it. Yeah, easier said than done.

You could then use trendlines to hone in on your trades. But then again, without first knowing that it's a range, this would not be so easy in real time.

 

[padutrader]

Don't be so obtuse.

THIS HAS NOTHING TO DO WITH LOGIC OR WHETHER THE MARKET IS IRRATIONAL OR OTHERWISE.

What the piker is saying is that he himself belongs to the lucky 1%, whereas you and me are clearly in the other 99%. The idiot should be dragged out and flogged.

 

[padutrader]

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I am dumb. Are these second entries? How do I know they are reversals and not second?

first no ema

use 20

now why are you entering a second entry?

so now if you have a trend line break of a bull [main trend] then that is a pull back which will be confirmed when you get a continuation signal like a buy signal.
now if that buy signal does not lead to the resumption of the main trend but you get another trend line break and another buy signal then that is the second entry into the main trend.

so you need to have a trend to enter ie. identify the trend you want to enter.

Brooks assumes you have basic understanding of what you are trying to do in trading which is get into a trend


scalpers too identify a trend and enter that trend only the trend they identify may be 1 bar or 10 but they get out early.

and to identify the first or second or third entry you need to identify the pull backs.

if after a first trend line break the market tries to resume the main trend and does not do so and then there is second trend line break and another trade signal comes - THIS is a second attempt to resume the trend then that is the second entry.

if there is pb and then the main trend resumes. Then you get one more pb and there is trade signal this is the not the second entry as defined

 

[padutrader]

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I am dumb. Are these second entries? How do I know they are reversals and not second?

put an ema..... and more bars for context

 

[tony.m]

If I was Padu, I would stop trading altogether and start my own course based on second entries.

 

[padutrader]

If I was Padu, I would stop trading altogether and start my own course based on second entries.

 

[themickey]

If I were Padu I would startup a church, a lot of similarities with religion, sometimes it works, most times it doesn't.

 

[SunTrader]

Thanks for the feedback but this smells too much like hindsight analysis.

I'll stick with it over arbitrary "touches" if you don't mind.

 

[padutrader]

sometimes it works, most times it doesn't.

i think all experienced traders know that trading is not simply matter of taking set ups- if it were that, no one would lose-but an issue of evaluating the quality of set up and that of context and last finally adding a healthy dose of instinct or street smartness, which sometimes means to look a gift horse in the mouth, especially if it is gift wrapped with a 'I care for you' note.