Why do i keep buying at the wrong time?

[volpri]

I dunno about you but that clearly looks like a chop zone. So unless it closes above the resistance line (and it failed twice already), it ain't going up.

View attachment 341818

Yes. Trading range. Bar at 1400 is a spike followed by a PB which then becomes a bull channel. So a spike and bull channel. That channel subsequently morphs into a sideways move or pause. Once that sideways move becomes 20 bars it is no longer a second PB but it is a TR.

So, 80% of BOs top or bottom of a TR FAIL and with 5 bars price trades back into or at min towards the TR. So the tactic is to FADE BOs of TR. In this case short, not long, at his entry point should have been the tactical strategy.

Traders need to learn how to trade TRs which other traders consider “chop” or noise. Strong BOs are 10% Of PA. The rest of the times it is channels and TRs. So we need to learn to trade the other 90% of PA.

 

[Slope Trader]

Yes. Trading range. Bar at 1400 is a spike followed by a PB which then becomes a bull channel. So a spike and bull channel. That channel subsequently morphs into a sideways move or pause. Once that sideways move becomes 20 bars it is no longer a second PB but it is a TR.

So, 80% of BOs top or bottom of a TR FAIL and with 5 bars price trades back into or at min towards the TR. So the tactic is to FADE BOs of TR. In this case short, not long, at his entry point should have been the tactical strategy.

Traders need to learn how to trade TRs which other traders consider “chop” or noise. Strong BOs are 10% Of PA. The rest of the times it is channels and TRs. So we need to learn to trade the other 90% of PA.

The chart that was posted has Heikin-Ashi candles; not sure how that affects interpretation of price action. The highs and lows are normal but open and close are calculated differently:

"The OPEN of a Heikin Ashi candlestick equals the MIDPOINT of the previous candle. Every new candlestick starts from the middle of the previous one.

The CLOSE of each Heikin Ashi candlestick equals the average value between the four parameters: open, close, high, and low."

 

[HawaiianIceberg]

A 'Time' study I did a ways back while seeing if anything emerged from measuring time as a fractional fractal against prime numbers. There are certain 'nodes' where various timeframes converge; 6am is one where eyeballs trading different time charts all see the same data.

View attachment 342558

Aloha everyone,
I didn’t want to derail mutes thread with an off topic discussion, so I started a thread dedicated to it.

Mute, GL in your search for yourself.

 

[mute9003]

i lost track of this thread about 10 pages ago lol
and also im still processing whatever was posted some pages ago.

all i really wanted to know is whether there is a visual trigger in the chart that makes new traders exit at the same time.

because
lets say they all entered at different times.
some bought in before the peak and failed to exit
some bought at the peak and got trapped right away
some more bought on small retracements on the other side of the hill
others bought where they thought it was the bottom and then another bottom and another bottom.

i dont have the trader logic installed yet so im trying to understand the how it works

so they all started in different place.
but the bottom seems to be where all of them exit the train
and because they are new they only see the chart since they cant read any other information yet because they just dont know.
and how can all these people experience "maximum pain" at the same time if they all enter at different times.

what is the mechanics of the "bottom" lol

what are the sellers and the buyers doing as the bottom forms?

would this fall into "supply and demand" topic or something else?

so the way i understand it so far is
sellers pushing the price down and sell orders are piling on and when there are no buy orders and sell orders accumulating the price keeps falling
the buy orders "push" the price up or slow down the fall essentially right?
and then im assuming the buyers see a good entry point on the chart where sell pressure slows down because the trapped traders either exited or decided to just hodl though this because the loss is too great and buyers start piling in pushing the balance back up and then more buyers pile in because they see reversal in the trend.
and if there are too many hodlers who didnt sell and decided to hold through it the trend fails because they exit at the first uptrend.
i dont know how to include the shorts in this
im assuming shorts are the part of push down and them covering is part of the up trend
but i dont know how they affect the price while they hold short shares.

 

[HawaiianIceberg]

Aloha mute,
Look at your last 100 trades. Literally. I'm gunna go out on a limb and say you're likely mostly trading breakouts, which means you're going on wild goose chases most of the time. Breakouts of S/R, trendline channel, ranges, a new HOD or LOD, whatever it is you think you're breaking out of.

Here's your visual trigger. Price is going up/down fast! We just put in a new HOD / LOD / broke a trendline / crossed a moving average, and with aggression! I better jump on NOW, at market, because I think it's going to keep going! Look at all these exclamation marks!!! Go Go Go... You'll have success about 1/5th the time trading in the direction of your breakout.

Why did price turn around right when I entered? Because price was 'pushed there' because it was a good price to enter, but in the opposite direction (4/5th the time).

 

[mute9003]

i look for strong trend that is moving fast in the direction i want and trade those.
every time i hold overnight or longer i lose. so i dont hold overnight as much as i can
once in a while i sabotage myself and get stuck in it...
obviously i dont know something. if i knew and understood everything i wouldnt be here asking questions.
all im trying to learn now is how to read the charts properly. yall chill with promoting strategies. im not there yet.
every strategy works when you understand the market.
your strategy is not any better than the guy next to you. it all depends on how well you can read the market and thats what im trying to learn so i can develop my own strategy.
this is practive im not trying to make money im trying to consistently not lose money now.

 

[deaddog]

once in a while i sabotage myself and get stuck in it...
obviously i dont know something. if i knew and understood everything i wouldnt be here asking questions.
all im trying to learn now is how to read the charts properly. yall chill with promoting strategies. im not there yet.
every strategy works when you understand the market.

Your problem is the trader not the strategy!!!
It doesn't matter what strategy you use if you are going to sabotage yourself.

 

[Sprout]

i look for strong trend that is moving fast in the direction i want and trade those.
every time i hold overnight or longer i lose. so i dont hold overnight as much as i can
once in a while i sabotage myself and get stuck in it...
obviously i dont know something. if i knew and understood everything i wouldnt be here asking questions.
all im trying to learn now is how to read the charts properly. yall chill with promoting strategies. im not there yet.
every strategy works when you understand the market.
your strategy is not any better than the guy next to you. it all depends on how well you can read the market and thats what im trying to learn so i can develop my own strategy.
this is practive im not trying to make money im trying to consistently not lose money now.

Stop live trading, probably damaging yourself irrevocably.

For a basic understanding of reading charts there are two drills you could do;
1) Label HH, HL, LH, LL's
2) Take 50 charts and draw channels with a RTL and LTL. Every trend begins within the prior one.

 

[HawaiianIceberg]

all im trying to learn now is how to read the charts properly. yall chill with promoting strategies. im not there yet.

A higher than normal number of knowledgeable ET members have chimed in on your thread. I would feel lucky for what they're brought directly to you. (also impressed by the lack of flaming! nice work ET)

 

[mute9003]

Not complaining. Im still trying to process all the info lol