There is no "system"

Paddler said:
Sounds good. But...

What is a zig-zag chart?

How does one know change of sentiment has occurred for one to record up or down on 30m, 5m and zig-zag chart respectively and take trading actions?

1. Up, up, up is enter long.
2. Up, up, down is hold. (how to hold as 3-tick rule would have stopped out one's long position?)
3. Up, down, up is sidelined.
4. Up, down, down is enter early short (?)

5. Down, down, down is enter short (?).
6. Down, down, up is hold (?).
7. Down, up, down is sidelined (?).
8. Down, up, up is enter early long (What is early long?).
(* phrases in grey are your suggested actions)

Another major problem I can see is that slower 30m's sentiment change signal is always late to log due to the trend overlap nature.

Welcome back.
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too many IF's means its all bollox, he just likes using big words to make himself sound clever, but fails to realise he contradicts himself frequently.
 
It's not random, but nobody can predict it accurately. Some posters claim to be able too but obviously refuse to/can't prove it.
Only atticus and sellindexvol make lots of consistent money, so maybe wait until they reply to get an accurate answer to your question :)
 
Brianharvey said:
It's not random, but nobody can predict it accurately. Some posters claim to be able too but obviously refuse to/can't prove it.
Only atticus and sellindexvol make lots of consistent money, so maybe wait until they reply to get an accurate answer to your question :)
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I can predict certain markets and market conditions, very well, big moves after major news for instance, no chance don't even risk that.


DAX is my current fav, wayyyy more predictable than Forex I'd been trading for 9years and failing on.

So if you trust my word on this, then you can basically forget random, it's all in my journal if you want to learn how I trade.
 
Another major problem i see,is that your trading signals become the opposite at some point(eventually).Whatever out of 13894628375691347913 available systems or indicators you`ll use!Or any combinations of them.Why isn`t it still obvious?

Try it for another ten years and let me know.:D
 
Experience and ability to adapt, not a fixed method is where it's at, not a grail system you plug in and retire 30mins later.
 
Brianharvey said:
Only atticus and sellindexvol make lots of consistent money, so maybe wait until they reply to get an accurate answer to your question :)
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I think they both trade options, too? Maybe that's the secret! Are they betting on volatility as opposed to the direction of a stock?
People use TA/charts/price action to guess the direction. How do options traders guess future volatility? What methods?

All I know about options is calls mean 'long' and puts mean 'short'?
Atticus, can you teach me how to make money in options, please? I'll open a papertrading thinkorswim account today :)
 
Brianharvey said:
It's not random, but nobody can predict it accurately. Some posters claim to be able too but obviously refuse to/can't prove it.
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If by "it", you mean price level, I'm inclined to agree. Predicting tomorrow's daily closing price is extremely difficult, if not impossible. But you can be profitable simply by predicting price direction, and if a trend is present, that should be obvious. Your prediction doesn't have to be 100% accurate, just greater than 50%. The very existence of a trend means price is more likely to move in one direction than in the other ... at least temporarily. If you strike while the iron is hot, you'll make a profit.
 
Eddiemorra said:
I think they both trade options, too? Maybe that's the secret! Are they betting on volatility as opposed to the direction of a stock?
People use TA/charts/price action to guess the direction. How do options traders guess future volatility? What methods?

All I know about options is calls mean 'long' and puts mean 'short'?
Atticus, can you teach me how to make money in options, please? I'll open a papertrading thinkorswim account today :)
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Options are GOOD if the market is strong, you can go Calls and Puts and if the market is strong either direction you'll make good $$$'s, when it goes flat then time erodes the price and out of the money options expire worthless, not so great LOL

I made literally LOADS trading options 15years ago, then blew the account pretty much over night on a massive spike up, I was all puts doh!! 1 had SEC issue and got me back 50% of the account over night thankfully :) High rewards and HIGH risk!!
 
kut2k2 said:
If by "it", you mean price level, I'm inclined to agree. Predicting tomorrow's daily closing price is extremely difficult, if not impossible. But you can be profitable simply by predicting price direction, and if a trend is present, that should be obvious. Your prediction doesn't have to be 100% accurate, just greater than 50%. The very existence of a trend means price is more likely to move in one direction than in the other ... at least temporarily. If you strike while the iron is hot, you'll make a profit.
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The longer your in a trade, the more you expose yourself to pseudo randomness, that's why scalpers and M1 intraday traders ( me ) are the 1's making the money, while H4 traders stand still but believe there way is the only way.

M1 can blow the account easily and quickly but the flip side is you can get rich just as easy, H4 takes ages to blow account if you can't trade but ages to make any good $$'s if you can, most can't trade so they think H4 is safer, but no it's just slower and actually harder!
 
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