Tips on the Mental Game

[Brass]

Quote from Redneck:

...Moves can be measured in time, waves, cycles, Fibonacci, price, distance/ ruler (recall NOD’s 2 cm measurement and don't laugh because it did work) – and a few others...

No disrespect, but I think "measured moves" are illusory for all intents and purposes. For any well chosen chart with a suitable measured move, I can find any number of charts where the move either fell short or overshot. Measured moves qualify as prediction, which people simply cannot do with any meaningful regularity. And I'm confident you'll agree that prediction should not be confused with identifying low-risk entry points. If some diehards insist that entries are akin to predicting, then a distinction should at least be made between rudimentary, first-order, low-risk entry "prediction" versus higher-order, flat-out prediction such as a measured move.

 

[Redneck]

Quote from Brass:

For any well chosen chart with a suitable measured move


I can find any number of charts where the move either fell short or overshot. .

No shit -so can I, for EVERYTHING trading related

Welcome to trading TDog

eta, Measured moves are one way of identifying targets, not the best, not the worst, simply one way :eek:

RN

 

[BobbiDigital]

Areas with little s/r, such as daily highs/lows or prior day highs/lows. I recall you speaking of channels/trendlines/consolidation as one and the same. Then patterns = agreed upon range for price. If it breaks we don't know how far it will go. Is there anyway to improve on observing this before it occurs or how ugly it could get - reward. Certainly not a be all, got that.

 

[Brass]

Quote from Redneck:

No shit -so can I, for EVERYTHING trading related...

Then where's the value? It's less accurate than a coin flip.

Quote from Redneck:

...Measured moves are one way of identifying targets, not the best, not the worst, simply one way...

Wouldn't the nature of the immediately preceding and present price action be a better exit determinant than what is for all intents and purposes a practically arbitrary point "calculated" well in advance (i.e., higher-order predicting)?

 

[Redneck]

Quote from BobbiDigital:

Is there anyway to improve on observing this before it occurs or how ugly it could get

This is where reading price, using different TFs help

RN

 

[Redneck]

Quote from Brass:

Then where's the value? It's less accurate than a coin flip.

Wouldn't the nature of the immediately preceding and present price action be a better exit determinant than what is for all intents and purposes a practically arbitrary point "calculated" well in advance (i.e., higher-order predicting)?

You modify your post more times than I can count


The only, and last - thing I'll say to you is - You have a lot of company (think one of the majority)

See Ya
RN

 

[Brass]

Quote from Redneck:

You modify your post more times than I can count


The only, and last - thing I'll say to you is - You have a lot of company (think one of the majority)

See Ya
RN

Really? The last thing you'll say to me simply because I don't agree? Sorry if I offended your sensibilities. I thought this was a forum for exchange rather than an opportunity to get in line. My mistake.

 

[xburbx]

He's not trying to offend you. He's trying to help you.

 

[BobbiDigital]

RN -

How do you feel about the following logic when price approaches a defined level of support/resistance:


S/R holds by 1 + cent(s) - dominant trend/direction continues

S/R hit exactly or tests 1 cent below - price may continue in direction or flatten out

S/R broke by 2 + cent(s) - Price exploration. Might as well flip a coin to decide on direction

I don't think of this as cues to enter or exit, rather basic market dynamics so if it's flawed I'm in bad shape.

 

[anthonydavis418]

I agree with TomDavis stick an encouraging poster or even desktop wall paper and believe in it. That should keep your spirits high.