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

[tradewhatuc]

Thanks DB lots of good advice, I took this:

What is far more important is an observation phase during which you just watch price without any thought of where to enter or exit or what "setup" you might develop that will
provide you with an entree into trading.

If you spend insufficient time at this or skip it entirely, you'll never get it.

Used a 1min line chart and watched price today in replay.

I was surprised by how I noticed when price would take off like bat out of hell at different times.

When clearly the pace had changed

I had always seen it on bar charts before, but it did not jump out at me like the line chart did.

Here is chart of when I could recognize these changes

 

[Brianharvey]

There's been some talk about the need for having a well tested methodology/plan etc.
We're also reminded that this is not a mechanical, green light/red light 'system'.
So how does one go about 'testing' the process and gaining confidence?
If something can be coded, we can easily run a backtest across thousands of trades and various instruments, but what about when that's not possible?
How best to thoroughly 'test' the concepts in threads such as this?

Is it just a matter of lots of market replays?

(I don't actually use the ideas in this thread at the moment. There's WAY too much confusion for my little brain, but i'm asking in general, as I have my own methodology that i'm working on that I also don't think can be coded, and thus backtested)

 

[niko]

Quote from Brianharvey:

There's been some talk about the need for having a well tested methodology/plan etc.
We're also reminded that this is not a mechanical, green light/red light 'system'.
So how does one go about 'testing' the process and gaining confidence?
If something can be coded, we can easily run a backtest across thousands of trades and various instruments, but what about when that's not possible?
How best to thoroughly 'test' the concepts in threads such as this?

Is it just a matter of lots of market replays?

(I don't actually use the ideas in this thread at the moment. There's WAY too much confusion for my little brain, but i'm asking in general, as I have my own methodology that i'm working on that I also don't think can be coded, and thus backtested)

You have to backtest it manually.

 

[dbphoenix]

Quote from Brianharvey:

There's been some talk about the need for having a well tested methodology/plan etc.
We're also reminded that this is not a mechanical, green light/red light 'system'.
So how does one go about 'testing' the process and gaining confidence?
If something can be coded, we can easily run a backtest across thousands of trades and various instruments, but what about when that's not possible?
How best to thoroughly 'test' the concepts in threads such as this?

Is it just a matter of lots of market replays?

 

[fortydraws]

Quote from dbphoenix:

I'm referring to the one beginning in '09.

NDX came real close to that trend channel's upper levels yesterday.

 

[slugar]

1st supply line

 

[niko]

Quote from slugar:

1st supply line

And what did you draw after it was broken?

 

[slugar]

nothing until we get a retracement at 9:09 then a demand line can be drawn

 

[niko]

Was this a RET after the break of the SL?

 

[slugar]

The line with the arrow is the demand line which was broken and now we can draw another supply line