Making of a method
- Thread starter game
- Start date
you didnt answer why if the market is so fugging crystal clear why you aren't retired and living on an island, i trade what i see, when i see a setup,i sit on hands too,because it aint remotely easy to read, unless you are not trading and only teaching,in which case fuzzy is good enough because it doesn't cost anything
Actually it's very easy to read, though the more complex the display the more difficult it is to see.
If what you are doing were so robust, it would be a simple matter to explain to Game what to look for and what to do with it if and when it shows up. But your posts are all about couldawouldashoulda. One can't make money off a move that's long gone.
I'll be the first to admit that your software is dazzling, but it's useless if it doesn't tell the trader what to do before it becomes time to do it.
FT Day 19 Sept 18
R: 3199/3203 (Hinge boundary and apex from 15th)
R: 3195 (PM High)
S: 3188 (Tested ON S)
S: 3183 (Multiple SL's from 17th)
S: 3176 (MP of upwave from 56 to 95)
Story 1: Price has drifted higher since the close. It has been moving sideways through ON and PM in a hinge between 88 and 95. A move to a new value level will have to cross the trades from the 15th. At this point, there is more clear S below than there is R above. With the highs within striking distance, the LOLR is up,although the ON hinge action is still neutral. The action around ON S/R will be used to determine if price is going to move away from it's current value level.
Story 2: Price has been drifting down since the high of 94.75. Yesterday's significant climb presents a likelihood of price reverting back to the mp level at 75 or testing the multiple SL's from yesterday's climb.
Review:
3 Hinge, 2 BO Anticipation and 1 Range Reversal trade. All the longs were taken in anticipation of yesterday's trend continuation out of the value zone. Since the larger LOLR had been up, I could have opted to trade more long Reversals off the bottom of the range.
The BO Anticipation trades were based on yesterday's observation that the manner in which price travels from one range boundary to another indicates likelihood of it breaking out of value zone.
Today's question is whether the trades from today fell within my plan? Apart from the BO anticipation trade, they did. I need to update the plan and clearly indicate the situations when this type of trade is appropriate.
If the larger LOLR is up, it makes sense to be aggressive on Range reversals off the bottom in anticipation of not only reaching the other end, but of also potentially breaking through.
http://www.sierrachart.com/image.php?l=1379516255808.png
R: 3199/3203 (Hinge boundary and apex from 15th)
R: 3195 (PM High)
S: 3188 (Tested ON S)
S: 3183 (Multiple SL's from 17th)
S: 3176 (MP of upwave from 56 to 95)
Story 1: Price has drifted higher since the close. It has been moving sideways through ON and PM in a hinge between 88 and 95. A move to a new value level will have to cross the trades from the 15th. At this point, there is more clear S below than there is R above. With the highs within striking distance, the LOLR is up,although the ON hinge action is still neutral. The action around ON S/R will be used to determine if price is going to move away from it's current value level.
Story 2: Price has been drifting down since the high of 94.75. Yesterday's significant climb presents a likelihood of price reverting back to the mp level at 75 or testing the multiple SL's from yesterday's climb.
Review:
3 Hinge, 2 BO Anticipation and 1 Range Reversal trade. All the longs were taken in anticipation of yesterday's trend continuation out of the value zone. Since the larger LOLR had been up, I could have opted to trade more long Reversals off the bottom of the range.
The BO Anticipation trades were based on yesterday's observation that the manner in which price travels from one range boundary to another indicates likelihood of it breaking out of value zone.
Today's question is whether the trades from today fell within my plan? Apart from the BO anticipation trade, they did. I need to update the plan and clearly indicate the situations when this type of trade is appropriate.
If the larger LOLR is up, it makes sense to be aggressive on Range reversals off the bottom in anticipation of not only reaching the other end, but of also potentially breaking through.
http://www.sierrachart.com/image.php?l=1379516255808.png
i cant scalp so i respect you for that, can't trade on 1 minute,5 minute bars, but i am trying to widen his horizons some,which he needs to do,if he wants to stay in the markets for the longhaul, and you seem more intent on having him believe your way is the only way to trade and repeatedly advertise your thread in here,leading one to believe that the thread is more important to you than game or trading or the market as a whole,you've made several indirect criticisms of my posts in this thread basically telling him to ignore other avenues,you're wearing blinders db,and suggesting others to do the same is misleading and detrimental to thier future ,did they run you off at tradeto win, and if so, why, were they all wrong and you were right,don;t even give it a 2nd thought,keep the blinders on and fire ahead
Actually I asked at the beginning of this journal what it was he wanted to accomplish and how he wanted to go about accomplishing it. Once that was determined, I then made suggestions on how to go about it. Whether he scalps or trades a 1m bar or a daily bar or a weekly bar is irrelevant; it's all the same process.
If you have something to offer that is other than hindsight, great. Otherwise, what's the point?
i offered a simple way to read the markets using 3 points on an mp chart and trendlines ,if that is too complicated for a man wearing blinders,that's no surprise, the fact that you criticize what you dont understand doesn't bode well for your learning aptitude,your method is valid and i haven't criticised it,but you personally have some issues and should address them, the market is always evolving and we should too