Keeping It Simple

Quote from Bankedout:
If you wake up each morning knowing that you going to travel down a very bumpy road (the market), do you take the Jeep out of the garage or the Cadillac? I take the Cadillac. My reasoning is that the road leads to the same place either way. I might as well have a comfortable ride.
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But with the jeep you can take the corners with better precision (individual candles vs. MA) and get to the destination faster (higher net profits). With the Cadillac you have to take the corners slowly (MA) and get there much later (leave profits on the table), not to mention piss off the people behind you. :)
 
Quote from dottom:



But with the jeep you can take the corners with better precision (individual candles vs. MA) and get to the destination faster (higher net profits). With the Cadillac you have to take the corners slowly (MA) and get there much later (leave profits on the table), not to mention piss off the people behind you. :)
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Is that really true? Prove it to yourself. Put a 5 or 6 period EMA on your 1 minute bar or candle chart. Look at the signals for both. There may be a small difference, but is that really worth being jolted around all day? To me, it's not. If making an extra tick or two is worth the hassle to you, then do it. Both vehicles follow the same road. At least that's what I have found.

Banker
 
Quote from Bankedout:


Both vehicles follow the same road. At least that's what I have found.

Banker
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Banker,

Yesterday, as an experiment, I tried removing my candles on some old charts and replacing them with a 5 EMA (not during actual trading though) and it just didn't feel right for me. I really missed having the candles. But that doesn't mean it isn't right for YOU. I mean, if it works for YOU, then use the MA. It's really just a matter of personal trading style. You obviously are aware of the disadvantages of your approach, but you appear to see other advantages in it that, for you, outweigh the disadvantages. As we all know, a trader's trading method must match his or her personality profile in order to be effective. Good luck.
 
I like the idea of not using candles, but is it not posible that by using the caddy on a bumpy road that you might not get there at all?The jeep may not be as comphy, but at least you will have a better chance of getting there (profit).Do you think the caddy might keep you from getting faked out as easily?I like the idea, but, it would take some practice to get used to.
 
So far the third trade is going nicely. The first one was no good. The second one was great, and this one seems real good too. I love my new Caddy! I would like to add volume bars down at the bottom, but I'll have to wait until Jerry Medved makes that possible for me.

Banker

BTW all times are Central time.
 
Quote from Bankedout:

So far the third trade is going nicely. The first one was no good. The second one was great, and this one seems real good too. I love my new Caddy! I would like to add volume bars down at the bottom, but I'll have to wait until Jerry Medved makes that possible for me.

Banker

BTW all times are Central time.
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what are those lines drawn on?:confused:
 
Quote from LongShot:



what are those lines drawn on?:confused:
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Those are my slope markers. They help to keep me focused on the trend I am trading. The fourth trade looks like some sort of ramp or something. What a day!

Banker
 
Quote from LongShot:

no offense but this seems to me a gimmick or crutch to deal with your emotions rather than developing real discipline to manage your trades properly. and it is at the expense of losing price data and market structures that many trade off of. i think i'd rather steel my emotions and keep the candles than throw away potentially important and useful information.
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I had to laugh when I read this... Nothing matters but whether the method makes money!!

All else is just BS.

gs
 
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