Iterative Refinement
- Thread starter Spydertrader
- Start date
Quote from Mr_Black:
This is taken from romanus chart .... I annotate my View of reversals and profit extraction.... you don't need to trade all day long this way to make little bit of $$$
Thank you Mr. B. for showing what you were talking about. You are not trading off the tape and thus what you described in your earlier post makes perfect sense.
lj
Quote from Mr_Black:
This is taken from romanus chart .... I annotate my View of reversals and profit extraction.... you don't need to trade all day long this way to make little bit of $$$
The trades you post are much more selective than those annotations indicate - is that an idealized version, or do you sometimes take the 'always in' approach?
- palinuro
lj,
I wouldn't include premarket data in the 5 minute chart channel annotations because the channel slopes depend on having roughly similar volume/time conditions.
For the 24 hour data I use constant volume bar charts, which compress the premarket into far fewer bars, appropriate to the significance of the volume level. Sometimes I include those in the annotations, if it seems obvious. I do find the S/R levels that are established consistently helpful.
- palinuro
From my experience 'always in' is Absolutely Possible and Achievable...the reason of my trading approach is that I am feeling comfortable trading point3's when volume is at fast/extraordinary pace to extract 5-7 point's a day....'always in' requires tremendous mental strength and concentration....
