That really depends on what you mean by "unique"? And as far as I'm concerned, I've done far more than merely "cutting and pasting from TA and candlestick charting books." It appears that you have yet to read the entire thread and instead have resorted to reading only the last few posts. If you really want to pass judgment, would it not make more sense to get familiar with the whole damn thread first? If you still feel that I'm only duplicating what's already provided "on our bookshelves", then let me know. Thanks.Quote from goldenarm:
Are you just going to keep cutting and pasting from TA and candlestick charting books or will you share something unique? Everything you've posted so far should be on our bookshelves.
Unholy Grail to Success
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Quote from goldenarm:
Are you just going to keep cutting and pasting from TA and candlestick charting books or will you share something unique? Everything you've posted so far should be on our bookshelves.
As basic as these things may seem to you, I'm enjoying the OP explanations, and looks like I'm not the only one.
If your stuff is more advanced, you can either share it or simply move along.
Good trading to you.
It's a great thread, thanks for making a civil post designed to keep it that way.
When trading with real money, the key is to KISS.
saliva provides excellent reference points for the mind to see and interpret real-time when making trading decisions.
Good trading.
Thanks for the encouragement. My intention is quite simple: to share what little I know with those who might be struggling. I believe we all know what that feels like. Yet I don't mind constructive criticisms within the bounds of reason. And, yes, let's keep it free of toxic flames.
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Important note: Allow me to be blunt. I don't like to bitch anymore than I have to but there's a good reason why this thread was written in a chronological order. If you're new to this thread, start from page 1 and don't skimp on details!
[edit]
Important note: Allow me to be blunt. I don't like to bitch anymore than I have to but there's a good reason why this thread was written in a chronological order. If you're new to this thread, start from page 1 and don't skimp on details!
I would like to pick up on Mendel's allusion to the K.I.S.S principle. I'm a greater believer of K.I.S.S. and my system was designed to reflect on its core principle. I would even go so far as to label it "K.I.S.S par excellence". If you were to break down PMT, there are essentially only 3 fundamental components: price, momentum and time, of which price is divided into S/R and trendline. Of course, there are specific ways to use these but, all in all, you will deal with no more than four of these components.
Market Replay
This was how the market closed today.
Was it too predictable? This is what I wrote last night in the ES Journal thread.
Now, we zoom down to the 30-minute chart. Here we're transitioning from the macro perspective down to the micro perspective. I knew we would rally going into today's trading but I didn't know just what the strength of that rally would be. This is pretty much the template that I used this morning. The dotted lines, representing a channel, were added soon afterward.
Lastly, we further zoom into the 5-minute chart to hone in on the micro perspective.
In today's market replay, I have included only the price action using S/R and trendlines for the reason that I wanted to make it as plain as possible. In the future, however, I will incorporate more exotic elements like momentum.
On a side note, I should briefly point out that all these analyses make perfect sense in hindsight. No doubt, it's easier said than done after the fact. But it's my personal belief that you cannot navigate your way through the future unless you have gained mastery of the past. After all, history does have a nasty habit of repeating itself.
[edit]
Important note: Allow me to be blunt. I don't like to bitch anymore than I have to but there's a good reason why this thread was written in a chronological order. If you're new to this thread, start from page 1 and don't skimp on details!
This was how the market closed today.
Was it too predictable? This is what I wrote last night in the ES Journal thread.
With that said, let's jump through some intraday hoops. Here's the 120-minute chart that I use next in line to the daily chart. It tends to give a more clear picture of the macro perspective. That is, in terms of a longer term intraday perspective. Do you notice the IHS? While it's not critically important at this juncture in time, we still need to keep that in the back of our mind. Of course, everything will change should the market pierce above the neckline.
Now, we zoom down to the 30-minute chart. Here we're transitioning from the macro perspective down to the micro perspective. I knew we would rally going into today's trading but I didn't know just what the strength of that rally would be. This is pretty much the template that I used this morning. The dotted lines, representing a channel, were added soon afterward.
Lastly, we further zoom into the 5-minute chart to hone in on the micro perspective.
In today's market replay, I have included only the price action using S/R and trendlines for the reason that I wanted to make it as plain as possible. In the future, however, I will incorporate more exotic elements like momentum.
On a side note, I should briefly point out that all these analyses make perfect sense in hindsight. No doubt, it's easier said than done after the fact. But it's my personal belief that you cannot navigate your way through the future unless you have gained mastery of the past. After all, history does have a nasty habit of repeating itself.
[edit]
Important note: Allow me to be blunt. I don't like to bitch anymore than I have to but there's a good reason why this thread was written in a chronological order. If you're new to this thread, start from page 1 and don't skimp on details!
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Oh so your a better trader
If your going to flame you can at least post your trades for today
Lets see your analysis.
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