If you are not in midday, then you are in A->B->F via D as n (if F condition is met)
You are either in midday OR you are not.
Do you have PRV working?
Do you have your pace lines?
Making JH' SCT and all his material alive
- Thread starter WchPl
- Start date
If you are not in midday, then you are in A->B->F via D as n (if F condition is met)
You are either in midday OR you are not.
Do you have PRV working?
Do you have your pace lines?
As for PRV I have what I showed in a prior post in answer to one of your posts.
As for pace lines, I also have them but can't put them on the chart due to my Trading view account current limitations, but in a few days I'll subscribe to Pro so that I'll be able to add the pace lines. Anyway I don't understand what these lines are for, nor how to use them etc so for now, nevermind
You can just add horizontal lines for VDU and DU in the volume pane. This creates the D node ‘OR’ distinction.
You’re creating stumbling blocks where none need exist.
When we last discussed about pace lines, there was a code related to it. A code to put in the pine editor of trandingview. Unless you're talking about something else, just know that currently, TV impedes me to add this code and says there are too much instruments on my display.
Lastly, when I tried to have PRV running, TV was saying me the same. Too many instruments on the display and you have to go Pro to remedy this limitation. On my display, there was price bars, your color coding of price bars, volume on a lower pane and that was all. TV considered this was 3 instruments at the same time of the same display, thus why PRV did not work.
And, finally, whithout any reason I could understand, finally PRV was running.
Currently, I repeat, the code for the pace of volume can't be added via its code on my display.
Additionnally, I remind that I don't know what DU/VDU is precisely. I know what it refers to, but I don't know how to put nor where those lines in question.
When I give anyone the impression I create problems where there are not, then one is under illusion. When I do so, it's that I miss something and it is never intentional. have no intention nor pleasure to make things more difficult than they are. I have worked, suffered, and been fair enough now to add to myself any non needed difficulty.
If your goal is trading as business and not just keep something alive – try this plan.
Choose trading timeframe and higher (context) timeframe. For example, just illustrative, 5min and 30min. Define objectively for 30min what is strong trend, channeling trend, wide range. If the 30min is not in one of these three defined state, than no trading.
What are you researching here is basically classic 1-2-3 pattern and it is good enough to trade – BUT the conditions for entry MUST be different for strong trend, channeling trend and range. The universal profitable pattern for all market contexts aka holy grail is the beginner’s dream. You can spend all your life in quest for holy grail. Not wise choice at all.
So, define context and research how 123 pattern on 5 min behave in each context separately. Consider to take not more than 3 trades per move. Expect the last (3rd) trade to be shorter term. Move is swing in direction of trend only for strong trend, from one edge of channel to another in channeling trend, from bottom to top or vice versa for range. Research MAE and MFE and find optimum criteria for entry and exit. Do it for first 123 pattern in move, second and third. This stat analysis must be done separately for each context, never mix.
Recognize potential chop/high risk. There is very good info about it.
https://www.elitetrader.com/et/threads/help-ive-been-chopped.277421/
VERY important point - all this thread and all anti-chop filters are for context timeframe, not trading timeframe. The thread starter nodoji traded off 1 min and 5 min was the context. There is some additional info about chop/high risk uncovered in the thread, I can share if you will be interested.
The last point. You use ES for research. This market is very complicated and not good choice for beginner IMHO. You are in Europe and this means you have access in daytime to the Euro Bund future. This market is much more attractive for daytrading than ES.
This your thread shows that you are hard working person so you have all chances to succeed in trading business. All the process I described above is objective, no ‘feel for price action’ or ‘traders intuition’ needed. BTW, where is volume? There is no volume in this plan but you can include it and test objectively whether volume does matter or not. Compare results with volume in equation and without. You will know whether volume matters, knowledge is always better than belief.
well, it's very wise choice to trade sim and not put real money at risk on this stage
do you have written trading plan? written on paper, not only in your head?
is your strategy objective or you have some degrees of freedom for subjectivity?
You know the drill.
If you want relevant feedback, post annotated charts, Mada logs, entries/exits/reversals.
Debriefing is where you learn to make money. Trading is when you get paid.
Your experience here I believe is quite common. Annotating past charts is a completely different matter than trading a live chart moving up and down in fast speed.
I hope you'll be able to bridge the gap in due time, but since you're only starting out, don't be discouraged yet and stay in the simulator. If I have one regret it is that I've traded real money while still 'learning'.