Rewind Back 15 Years
- Thread starter padutrader
- Start date
What does overtrading mean?
too many trades
i think it is ok when it is in a wide range and you can trade both ways...in a trend it just keeps going one way
if the trend is your friend then so is the trend line.
And which trend line should you befriend?
the trend line which the market contacts....market's friend is your friend.
The market will keep returning to it's friend
And which trend line should you befriend?
the trend line which the market contacts....market's friend is your friend.
The market will keep returning to it's friend
the market moves up and down in a series 3 pushes, the majority of which are wedges....
I am extremely thankful for this because it gives opportunity for a fairly reliable stop placement.
the pull backs are also wedges....some 3 bar pull backs in a strong trend may not form the wedge fully....
if the move is very very strong the wedge may fail and you get a measured move down.
this is typical market behavior; does not want to be taken for granted ever
I am extremely thankful for this because it gives opportunity for a fairly reliable stop placement.
the pull backs are also wedges....some 3 bar pull backs in a strong trend may not form the wedge fully....
if the move is very very strong the wedge may fail and you get a measured move down.
this is typical market behavior; does not want to be taken for granted ever
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not all 3 pushes are wedges.
why are some 3 pushes called wedges?
Those 3 pushes that reverse are called wedges and all reversal patterns / indications have one thing in common: PROOF OF COUNTREND [TRADERS'] STRENGTH
excuse the capitals but the drama was necessary to emphasise the nature of reversals
why are some 3 pushes called wedges?
Those 3 pushes that reverse are called wedges and all reversal patterns / indications have one thing in common: PROOF OF COUNTREND [TRADERS'] STRENGTH
excuse the capitals but the drama was necessary to emphasise the nature of reversals
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I am been stressing that I am looking to understand market movements rather than 'strategies' because strategies, not based on market behavior, are just at best a 50-50 proposition. These will still work well if you have good risk and money management skills. but I did not want to acquire those because I never believed markets were risky.
I have always believed markets were manipulated...not aimlessly manipulated but manipulated with sole aim of taking your money.
so if I could find their game plan then I could take their money.
For this reason I was never comfortable with trading randomly and putting random targets and stops based on some vague presumption not in cognizance with market behavior.
what I described above is something I like because wedges are predictable :this allows agood non random place to put a stop, which will not be hit unless Trump gets assassinated, which any half sensible person would attempt to do
I have always believed markets were manipulated...not aimlessly manipulated but manipulated with sole aim of taking your money.
so if I could find their game plan then I could take their money.
For this reason I was never comfortable with trading randomly and putting random targets and stops based on some vague presumption not in cognizance with market behavior.
what I described above is something I like because wedges are predictable :this allows agood non random place to put a stop, which will not be hit unless Trump gets assassinated, which any half sensible person would attempt to do
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short?
where is the counter trend traders' [bear] strength.
the high shown on this chart will break. I am only reading what you have given me....according to that that high will break
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If what you say is going to happen then we'll get something like this.
which means:
this purple line is going to break. I find this unlikely, since it is very strong resistance