Son of If You Can Draw a Straight Line . . .

[Hooti]

You are right on about that Niko!

 

[dbphoenix]

Quote from Hooti:

I get a discount at TOS, but certainly a simpler platform that is not windows based has advantages. will look at that.


Is it practical to look at that chart but place the order on TOS?
Can you place an order on stockcharts?

It doesn't have to be non-Windows to be simple. Traders commonly believe that they need to spend tons of money on trading platforms and charting software to be successful. After 15yrs, it should be clear that this is not the case.

There are plenty of threads here on both, and there's google.

 

[niko]

Quote from llIHeroic:

r3algood,

Here are some basic PA annotations for the NQ Open today. Hopefully this example will help you to continue learning the essence of what we're discussing here.

Take care,
Heroic

---

Comments are welcome by anyone else who is watching the action today.

My lines are in the chart (for the same period of your chart), I ussually don´t fan the line until I get a hh or a ll. But I could be wrong.

 

[niko]

Quote from niko:

My lines are in the chart (for the same period of your chart), I ussually don´t fan the line until I get a hh or a ll. But I could be wrong.

Blue circles: Longs
Pink squares: Shorts

Exits, up to the trader, taking into account one cant be long and short at the same time, unless one holds 2 accounts.

 

[Hooti]

Niko, the conversation did devolve from seeing the bars in a chart.

I did stop trading for a few weeks, and observed. Backtested, and forward tested. Last week I tried a live trade day and the stayed in the routine all day. A unique experience and it just felt right by the end of the day. And very different from the way my prior trading behaviors and emotions were.

I'm not saying I have it totally nailed at all, but some step has been made.
Of course I want to stay live, but observing was so beneficial that I'm going to do that some more.

 

[dbphoenix]

No mention has been made of the level of the retracement at 0953. This in itself suggests strength. And strength there is, though short-lived.

Today provides a good example, though, of the importance of waiting for a retracement after the break of a demand or supply line before entering. If this were applied, there would be only two trades after 1006, one a winner, one BE.

 

[niko]

Quote from Hooti:

Niko, the conversation did devolve from seeing the bars in a chart.

I did stop trading for a few weeks, and observed. Backtested, and forward tested. Last week I tried a live trade day and the stayed in the routine all day. A unique experience and it just felt right by the end of the day. And very different from the way my prior trading behaviors and emotions were.

I'm not saying I have it totally nailed at all, but some step has been made.
Of course I want to stay live, but observing was so beneficial that I'm going to do that some more.

Sure, I am happy you got the idea so fast, believe me I am the dumbest one in the thread. Just that if you focus now on what is not important (broker selection, platform selection, commission discounts) you will get deviated from what is really important LEARNING HOW TO TRADE. Once you got this right you can open an account with the cheapest broker out there (one of us will probably tell you what we use) and make a killing, but for now, just learn, is cheaper.

 

[YMOCA]

Quote from Hooti:

No, TOS has no choice to thicken the bars or the line in a line chart. They say they will ask the developers to consider adding it.

I think I can make it work with more monitor contrast. I was making the candles essentially the same color and bunching them up so in effect they were making a line. It's still to much information that is not needed. This is not the hugest issue, it should be working now, or will do a different platform, whatever it takes.

Hooti

When you say TOS does that mean Think or Swim, and you have a TD Ameritrade account?

If so you could try Quotetracker.

See the thread here on ET titled "QuoteTracker To Be Finished End of 2011" for more info. (there are a few things you need to do to make it work now since TD Ameritrade has discontinued it) May not work with a new TD account. (see the last few pages of the thread, as there was a discussion about this)

It's a great platform and free, if you can get it to work.

 

[niko]

Quote from dbphoenix:

No mention has been made of the level of the retracement at 0953. This in itself suggests strength. And strength there is, though short-lived.

Today provides a good example, though, of the importance of waiting for a retracement after the break of a demand or supply line before entering. If this were applied, there would be only two trades after 1006, one a winner, one BE.

I considered 9:46 to be the first retracement after the break of the SL, hence the entry at 9:49. As the long was green by 9:53 did not really pay much attention to pyramiding.

By the 2 trades are you referring to the short at 10:12 and the long at 10:24

 

[dbphoenix]

Quote from niko:

I considered 9:46 to be the first retracement after the break of the SL, hence the entry at 9:49. As the long was green by 9:53 did not really pay much attention to pyramiding.

By the 2 trades are you referring to the short at 10:12 and the long at 10:24

The short, yes, the long, no. There are no longs since price is falling. A long would shove you into chop.