And the losers last forever.
How to know trend or chop in REAL time
- Thread starter galvinlee888
- Start date
And the losers last forever.
well, I don't actually like Jesus, even though I gave up a good part of my life devoted to him (notice that I didn't capitalize "Him.)@loyek590 I don't understand what you say, but it's good you love Jesus.
Regarding chop/trend: Intraday, there's no way I can tell. Other people call that "noise". It's so unpredictable to me that I've given up daytrading.
However on a bigger timeframe, the price actions is a lot clearer to me. No matter, if it's a trend/reversal/choppy day, by swing trading I'll take all of the action with me. Without being stopped out, because my stops are wide enough to allow some intraday noise and even spikes.
but you got that right, finding the timeframe you are comfortable trading
But it can bite you in the ass, both in a good way and a bad way, like a lot of us forex traders have been talking about. If you were short, it was no big deal, just another losing trade like so many others
man, you got that right
there are two columns in my ib account window, and one of them is "realized"
and once a number goes in there, whether profit or loss, it can never be removed.
hmmmn, do you want to make enough to prove to your old lady that finally you were "Right"@loyek590 I don't understand what you say, but it's good you love Jesus.
Regarding chop/trend: Intraday, there's no way I can tell. Other people call that "noise". It's so unpredictable to me that I've given up daytrading.
However on a bigger timeframe, the price actions is a lot clearer to me. No matter, if it's a trend/reversal/choppy day, by swing trading I'll take all of the action with me. Without being stopped out, because my stops are wide enough to allow some intraday noise and even spikes.
or do you want to realize that once you are done with her expensive habits, it is quite easy to make a living trading?
When you spot chop on your timeframe of choice increase timeframe until you see a trend, then trade accordingly.
Too many posts and too little applicable info.
Too many posts and too little applicable info.
Auto..., not trying to come across as an ass - but
Chop in chosen TF =
PB in Higher/ overall TF - (most likely)
Bi-directional moves (trends if one prefers) in Lower TF(s) - (and likely trade-able)
No doubt
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just a few things to consider
wide range chop ..., or narrow range chop
with volume..., without volume
time of day
location in overall trend
back to back bars..., or over a series of a few bars
on one's trading TF..., on the lower TF..., on the higher / overall TF
near an announcement / earnings/ event.., or not
But hey - what the hell do I know anyway
Bitching & arguing is always more fun - than learning and earning (I suppose)
RN
oh my aching head, now I remember why I switched from alcohol to pot. 2 am on a Sunday morning here in the Midwest. I like the original post, and I like all the answers. This is the crap we deal with every day.I think what's really being asked is ''how do you know when price is about to start chopping aorund?''. (answer: I don't know. I don't think anyone does)
I mean, you can identify chop in realtime with your eyes, and when you see that moves either way seem unsustainable and longs and shorts are all being stopped out and price isn't going anywhere.
The problem is that this information is inevitably too late to act upon.
Once you realise you are in 'chop', you've already been stopped out a few times.
Even worse, once you have identified 'chop' you decide to stay out, and that's when you miss the big move! Or you decide 'Right, we're in chop. I'm gonna short move up and buy moves down. Bollinger band style trading'', and that's when it makes the trend move and you are stopped yet again
like my local government tells me when they need to sell lottery tickets to pay for their next fiasco, "You gotta be in to win!"
I'm just a journeyman trader, I'm not smart enough to know when to get in. I'm in all the time. It's about enough to kill a man. As a matter of fact, I was a young man when I started trading. Now look at me.
For the longest time I just quit trading GBP, because it was always chopping on me and I was always on the wrong side of it when it would trend. But I needed to get short the USD and the EUR so I put on some long GBP against both of them.
What do you expect in ET ?
Don't forget if someone in ET here really have the "solution" for this, he will be the richest guy/girl that you ever see in your life.