hold your own hand.
So tomorrow, you follow the fitty yourself, lol or you do whatever it is you do that works.
What timeframe charts do you like to trade?
What products do you like to trade?
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Why do moving averages SUCK so much?
- Thread starter Saltynuts
- Start date
So tomorrow, you follow the fitty yourself, lol or you do whatever it is you do that works.
What timeframe charts do you like to trade?
What products do you like to trade?
Last edited:
Paper trading QCOM is not the same as trading DJIA with real money.
What timeframe charts do you like to trade?
What products do you like to trade?
I do not like to trade any of them, because they all SUCK ASS, lol!
But seriously, I have been trading the NQ and YM mostly for the last few years. Used to trade the CL. Anyways...
I do not trade time charts. I trade Unirenko charts. *shrugs*
Have at it!
I think traders spend way too much time trying to interpret indicators, which are just PA derivatives after all. Within the context of any given chart, i start by defining ranges and longer bar chart price bars (no open and close shown) overlap regions. Noise differentiation basically implies advanced awareness of price ranging; if we trade directionally then we want to capture linear movement between ranges. Simple works, although the analysis and mental preparation are anything but simple. The desired yield however is amazingly simply consistent. Moving averages can be useful within that context but the truth is no indicators are necessary. There are so many self-imposed impediments to accurately reading the structure of price action, that we all unfortunately go thru that pain to arrive at the solution, which after all lies right between our ears, and not in lines on a chart. Probabilities associated with testing. Systemic application of what moves price, namely need to fill orders. Did a moving average make that price move?
Did the market maker algo move price to where known resting stops were? Is price action choreographed to move in the most illogical manner, yet on some level is actually understandable in proper context? WHERE ARE THE RANGES? How are 60m and 15m bars overlapping? How badly do you want to ONLY trade the linear movement unimpeded "path of least resistance"? Ever wonder why trading platforms dont have the holy grail included in their roster of indicators? Do those opens and closes mean anything?
If trading was easy, there would be no barrier to entry.
Did the market maker algo move price to where known resting stops were? Is price action choreographed to move in the most illogical manner, yet on some level is actually understandable in proper context? WHERE ARE THE RANGES? How are 60m and 15m bars overlapping? How badly do you want to ONLY trade the linear movement unimpeded "path of least resistance"? Ever wonder why trading platforms dont have the holy grail included in their roster of indicators? Do those opens and closes mean anything?
If trading was easy, there would be no barrier to entry.
I quite disagree that moving averages suck. They are quite good at confirming a trend. But they should not be the only indicators to use. Plus, common sense is always useful.
llmflyfisher, What setup and entry triggers serve you well?
Basically trained myself to look for and recognize trading ranges and congestions and study how price moves away from these areas, since these are the linear (mostly) areas on the charts that tend to pay me to trade there. So looking for momentum moving away from congestion. This does not imply a breakout type of approach however. I will trade breakouts, but much prefer trading the back ends of bars on the test, which helps pretty dramatically with risk mitigation.
I really like to trade pullbacks within trending moves that display some momentum. Speaking of momentum, I think that is one of the most important key considerations for filtering out bad trade entries. If price is just not moving, even if there is what "looks" like a potential trade setup, it mostly just does not pay to put on risk there since there is zero feel for probability of price movement in the desired direction. I do look for extent of testing back against SnR zones, previous swing high / lows, double tops / bottoms, and even congestions that are not aligned horizontally. Not an extreme focus on chart patterns per se, just patterns of testing combined with a good read of momentum vs where I see price "should" or at least "could" go. Market structure. Look for the overnight open, high, and low as the daily range expands and builds out thru the day, as price seems to be attracted to those areas somewhat. Trade the trend if there, otherwise trade outside in. TESTING TESTING TESTING.
I like to keep an eye on longer term price bars to get a read from the bar overlap. Bar ends much more so than candle bodies, which is why I seldom if ever use candlesticks any more. Also tried renko bricks hybridized with heikin-ashi, looked OK but don't like how the candles don't accurately show where price really is, which can interfere with accurate risk placement. So my bread n butter deal is really trading pullbacks inside directional moves that have some momentum. Not terribly exciting or scientifically impressive, but then I am trading for consistency not bragging rights on social media LOL. I like simple. Can browse Joe Ross, the law of charts, sign up for free newsletters, he will send a couple of free tutorials on TLOC. My dad told me about that many years ago, but I guess I had to get thru my indicator stage and being stubborn to "do it my way". Finally after getting my ass kicked un-mercifully for way too many years, I decided I would STOP THE MADNESS and go back to basics. Which I did.
Basically (for me) I need to see those congestions. The markets go sideways near 80% of the time (true) so it makes sense to start the study right there. Now I want to place risk where there is evidence of sustained directional price movement combined with areas of mitigated risk to try to get good R values right? Right. That pretty much calls for tests of bar ends within a trending move. Much study of congestions and trading ranges. Cannot emphasize that enough. Correlating bar overlap on the 15m and 60m price bars. So there are 81 5m bars in a 405 minute day, and 27 15m bars so look for taking some range out of each 15m bar as price action allows. Be aware of what the 15m bar ranges are running, and try not take a trade entry generally if the current 15m bar has 82 points on it with 1.5 minutes left to go. Think this 15m bar will have no overlap on it? Hmmm I don't know about that. Probabilities... Might not be a good R / R present there LOL. Just some basic common-sense stuff. Like don't trade in congestions. The probability is that you will get your head handed to you if persisting in doing that non-sense. Ask me how well I understand that. Finally, learn to just flow with it. I guar-an-tee we cannot beat that market. Aint enough money available to do that. SO, have to learn to get along with it and not try to 'beat" it, because that is not possible. Just flow with it, get in tune with where the market wants to pay me to trade it, and then TRADE THERE. Only. Like surfing nice mainland mexico barrels, or slamming big reds on fly, or whatever but learn to dance with that enticing young lady. Because if you want to get some, that is what it will take. Study that price action, the truth is in there. Quit wasting so much time endlessly analyzing the stupid indicators. Look at the price bars, congestions, and how they tie together.
I really like to trade pullbacks within trending moves that display some momentum. Speaking of momentum, I think that is one of the most important key considerations for filtering out bad trade entries. If price is just not moving, even if there is what "looks" like a potential trade setup, it mostly just does not pay to put on risk there since there is zero feel for probability of price movement in the desired direction. I do look for extent of testing back against SnR zones, previous swing high / lows, double tops / bottoms, and even congestions that are not aligned horizontally. Not an extreme focus on chart patterns per se, just patterns of testing combined with a good read of momentum vs where I see price "should" or at least "could" go. Market structure. Look for the overnight open, high, and low as the daily range expands and builds out thru the day, as price seems to be attracted to those areas somewhat. Trade the trend if there, otherwise trade outside in. TESTING TESTING TESTING.
I like to keep an eye on longer term price bars to get a read from the bar overlap. Bar ends much more so than candle bodies, which is why I seldom if ever use candlesticks any more. Also tried renko bricks hybridized with heikin-ashi, looked OK but don't like how the candles don't accurately show where price really is, which can interfere with accurate risk placement. So my bread n butter deal is really trading pullbacks inside directional moves that have some momentum. Not terribly exciting or scientifically impressive, but then I am trading for consistency not bragging rights on social media LOL. I like simple. Can browse Joe Ross, the law of charts, sign up for free newsletters, he will send a couple of free tutorials on TLOC. My dad told me about that many years ago, but I guess I had to get thru my indicator stage and being stubborn to "do it my way". Finally after getting my ass kicked un-mercifully for way too many years, I decided I would STOP THE MADNESS and go back to basics. Which I did.
Basically (for me) I need to see those congestions. The markets go sideways near 80% of the time (true) so it makes sense to start the study right there. Now I want to place risk where there is evidence of sustained directional price movement combined with areas of mitigated risk to try to get good R values right? Right. That pretty much calls for tests of bar ends within a trending move. Much study of congestions and trading ranges. Cannot emphasize that enough. Correlating bar overlap on the 15m and 60m price bars. So there are 81 5m bars in a 405 minute day, and 27 15m bars so look for taking some range out of each 15m bar as price action allows. Be aware of what the 15m bar ranges are running, and try not take a trade entry generally if the current 15m bar has 82 points on it with 1.5 minutes left to go. Think this 15m bar will have no overlap on it? Hmmm I don't know about that. Probabilities... Might not be a good R / R present there LOL. Just some basic common-sense stuff. Like don't trade in congestions. The probability is that you will get your head handed to you if persisting in doing that non-sense. Ask me how well I understand that. Finally, learn to just flow with it. I guar-an-tee we cannot beat that market. Aint enough money available to do that. SO, have to learn to get along with it and not try to 'beat" it, because that is not possible. Just flow with it, get in tune with where the market wants to pay me to trade it, and then TRADE THERE. Only. Like surfing nice mainland mexico barrels, or slamming big reds on fly, or whatever but learn to dance with that enticing young lady. Because if you want to get some, that is what it will take. Study that price action, the truth is in there. Quit wasting so much time endlessly analyzing the stupid indicators. Look at the price bars, congestions, and how they tie together.