One's sell signal is another's buy signal. You all know it takes 2 to trade. But you knew that ...
This is beauty!
- Thread starter padutrader
- Start date
nothing wrong with the sell signals, shit happens.have a stop in place and try again.
that is trading - cut your losses short and let your winners run.
I personally do not like Bollinger bands
you have answered your own question = perfect does not exist, everything in trading is grey
if there is was such thing as perfect it will be jumped on by every algo trader and the perfect trade will be shut in a few seconds.
you call yourself tradergod but you rely on god for your trades.you hope to god it goes your way.the trading god is a hard god.
all the best
that is trading - cut your losses short and let your winners run.
I personally do not like Bollinger bands
you have answered your own question = perfect does not exist, everything in trading is grey
if there is was such thing as perfect it will be jumped on by every algo trader and the perfect trade will be shut in a few seconds.
you call yourself tradergod but you rely on god for your trades.you hope to god it goes your way.the trading god is a hard god.
all the best
Your over thinking it....
The Mid/sma is going down, so you need to jump on that direction, near the upper BB and ride it, exiting when the direction changes or the BB fails to the upside.
I have some fixed envelopes, which allow for chop so I'm not exiting too often, but thats how i trade.
The Mid/sma is going down, so you need to jump on that direction, near the upper BB and ride it, exiting when the direction changes or the BB fails to the upside.
I have some fixed envelopes, which allow for chop so I'm not exiting too often, but thats how i trade.
why would you need bar numbers to comment?
as far as the volume, look at the instrument being traded.
I don't use BBs nor any of that "stuff" but with that being said allow me to make these points:
1. Do you realize that BB show market contractions and expansions? That means you would have to be looking at 1H (at the very minimum) or higher timeframe to get something meaningful like market coiling up and ready to explode.
2. Instead you're looking at 5m chart and you are looking for an expansion move? WTF? Did you notice that "the move" has already happened about 12 hours ago and as the market participants went home the market action dies so does the volatility, which obviously (on 5m chart) results in BBs contracting, which means (in plain english) that there is nothing to look for.
3. Another reason (besides that 5m BB bull$hit) you can't get anything meaningful from this chart is that this is 24hour fx chart and don't know what timezone this chart is based on. For example, if the "signal" (again, there is no 5m BB signal) is happening in between major market centers, then there is no signal by definition.
4. Besides points 1-3, any valid signal does not mean that the trade it signals will work.
5. And stripping this chart from that BBs BS, I would like to see some PA to the left, because the only signal I can see so far is the "buy" around 6pm that looks to me like a retracement to the "scene of crime" from 3:30pm when the explosive move occurred. And no, this is not based on hindsight.
6. In your other post you said:
Well, if using BBs on 5m chart or drawing these three horizontal lines during off-market hours is the best you can do after 24 years of your learning and studying TA, then I can honestly say that you should ABANDON trading because you will never get it. And no, it doesn't mean you are a failure, it's just that trading is not for everybody and you are definitely proving it is not for you. But it sure is addictive.traderGOD said:
what you say is right...but in technical analysis everything is right.
markets are fractal so what applies to one time frame applies to all
BB gives information which you may get by eyeballing
The markets keep doing the same thing over and over again.
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Bar-by-bar analysis is not for everyone. Bar numbers make a comment easier to discuss than bar times.
It supports building a fully differentiated perspective on the market’s system of operation. It starts with building upon the basic granularity of market data - Price, Volume and the PV relationship.
That fact that volume is not included nor monitored on the chart is informative of the OP’s mental state of differentiation.
As a minority view, volume is the leading indicator of price.
In the chart that was posted the short began many bars prior to the yellow arrow. The yellow arrow bar (depending on volume) would most likely been a bar to go long.
Imho, trading without consciousness of the PV relationship is like driving forward via the rear view mirror.
Ymmv