one thing you must document is that where the signals came from.ie 1/3 reversals.arithmetic or log box sizes
Learning to read Price Action with P&F Charting
- Thread starter HolyGrail
- Start date
Quote from ElCubano:
I saw that study and posted it a while ago (and posted another one or two), I want to reproduce it for myself and see if it really works.Instead of trading S&P futures I'd rather buy and hold (for 1-3 months) individual stocks/etfs.
I think this could be part of a long term trading plan with less stress than being a day trader. (also I hope to automate it).
One bad thing about the study: they didn't show how they calculated the trendlines, haha.
I have used the horizontal target with some success on swing trading, but I gave up on it in daytrading. I day trade now on a very limited basis, but I think I am going to give horizontal targets another chance on the trades I do make and see how it does. Especially trades on the 1.0 or .75 charts which have a lot less noise than the .5., and of course only with the trend.
holygrail.why are you limiting the daytrading.?
I just don't have the time. I have neglected my business entirely too much, and THAT is my livelihood. Basically what I do now is look about once every hour or two and see if there is anything brewing on ES or NQ. If I trade I keep it to less than 3 trades a day, and let the chips fall as they may.
One thing I have noticed is that it is a good thing to have both nq and es charts up at the same time. I'm not going to come right out and say the nq leads ES, but I can say that there will be no sustained moves in ES without nq showing the same thing. When they are totally out of sync it is not worth taking on any trade.
i thought that the business had priority.
thanks for the input on nq/es
thanks for the input on nq/es