ProfLogic's Method
- Thread starter El Guapo
- Start date
- Status
They don't get any better than this!
Yeah, I mean, unlike you none of us have stated that we been nominated by a "Nobel committee" LOL!
But do not worry old man, your arse chum will delete this post so your fleecable noobs don't read anything that might affect your business, and the world is yet again a "wonderful place"
Keep up the BS Mr Bill S. Down to a fine art.
Moderators' comment: I like the highlighting features in ET. Will keep this post for practice.
On-topic, I am starting to watch for setups and noticed this happening...
The Strength doesn't show but I think the rest is covered.
The first attempt would have been a wash, I think, but the second did much better.
Any comments on the interpretation?
The Strength doesn't show but I think the rest is covered.
The first attempt would have been a wash, I think, but the second did much better.
Any comments on the interpretation?
I absolutely agree. That trade was easily worth US$1,250 per contract. Consistency in seeing those and taking those trades builds confidence over time to increase the size of your position in those trades. That chart will quietly handle 20 contracts and even 10 of those trades per year would make anyone happy.
Now understand that this process is able to be duplicated in hundreds of different futures, commodity or stock market charts. All verifiable by your own screen time, not something you have to trust from someone elses statements.
The problem becomes that this set up occurs consistently in all of our charts but waiting for them drives us nuts. We collectively have a rough time patiently waiting for those beautifully perfect set-ups even if we realize we only need a few of them each month to be wildly profitable.
What happens is we get up in the morning, drink 5 cups of coffee then stare at the screen telling ourselves . . . "I'm here and I MUST TRADE". It reminds me of the dog on the Bacon snack treat commerical. Bacos . . . Bacos . . . gimmi some Bacos . . . Then we drive ourselves nuts trying to force trades into our charts.
Patience is by far the hardest attribute for a trader to master but mastering it will pay dividends 100 fold.
Quote from LostTrader:
On-topic, I am starting to watch for setups and noticed this happening...
The Strength doesn't show but I think the rest is covered.
The first attempt would have been a wash, I think, but the second did much better.
Any comments on the interpretation?
Nice variation of the standard rules. Thanks for sharing.
JW
Quote from LostTrader:
On-topic, I am starting to watch for setups and noticed this happening...
The Strength doesn't show but I think the rest is covered.
The first attempt would have been a wash, I think, but the second did much better.
Any comments on the interpretation?
LostTrader,
This was the set up from 8:30 am EST taken from the 343 CVB Chart. This chart is way to fast for me but can be used as a scalping chart.
I've posted the 2401 (a fast typical intraday trading decision chart) to show you how your chart is playing out in that environment. There (2401) we were inside a Prime Trading Breach of Resistance toward a Prime Trading Breach of Support environment.
For scalping, price & strength was still going down and thus a good trade though it played out in two parts. That first entry (early entry) occurs a lot on the faster charts.
- Status