ProfLogic's Method
- Thread starter El Guapo
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I see u sometimes have primary bear and primary bull.
Do you put this in yourself, or how do you determine it? Is it from price reading long term charts, or if price on long term charts is below say a 200 day average?
If primary bear, do you only take trades with the bearish trend?
Do you put this in yourself, or how do you determine it? Is it from price reading long term charts, or if price on long term charts is below say a 200 day average?
If primary bear, do you only take trades with the bearish trend?
That label is computer generated. The computer can read the Trend of any chart it is applied to. The Trend is read from the sequential Prime Trending Oscillations on that particular chart.
I don't use moving averages, too subjective. I only use objective indicators. Think about something . . . Could you make money if you KNEW that THE support level had set in for a BEAR TREND? Of course, you simple buy the confirmed bottom, knowing the potential of breaching Resistance was slim-to-none. You simply exit the trade as the oscillation (ERG) shows a failure to make a HH is being created.
If you can READ the Tread then you can make money on either side of it by reading the oscillations and the strength attributed to each one.
Quote from Jander:
For sure, I'm not complaining
It is actually good practice I think to determine the entries without simply an oscillation/color change. The exits are a little tougher. That said, I am looking forward to the proper indicators lol
Thank you for sharing all of this by the way...
I was just kidding you . . .
Data streams are all a little off so everyones chart will be a little different. Even the guys in my office have slightly different looks to our charts but the general direction and strength are the same. Profitability is always there as well. The key is trusting what YOU have on YOUR charts. Trust comes with screen time.
Prof,
I keep getting shakin out of these long trades this afternoon. Had a couple around 2:18 and 2:26 that I got dumped out of after the oscillator reversed for 2+ bars within a few minutes. BE trades when they should have been +. Nice setups too.
Kind of slowly grinding higher so a little tougher i see.
Any thoughts?
Thanks
I keep getting shakin out of these long trades this afternoon. Had a couple around 2:18 and 2:26 that I got dumped out of after the oscillator reversed for 2+ bars within a few minutes. BE trades when they should have been +. Nice setups too.
Kind of slowly grinding higher so a little tougher i see.
Any thoughts?
Thanks
The 2:26 trade long was nice. Histogram at Prime Support . . . perfect. If you look at the 16807 there was more than enough info there to keep you long until about 2:52.
The 2:18 trade short was early. Histogram was at Prime Support too. We don't sell bottoms. this is why the 2:26 long was so nice.
The faster the charts the choppier the trades. Use the faster charts to practice reading price. Trade the slower charts.
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