Why is hard to make money? Find trend, stops above previous/high low, TP @ next highs/lows

[ironchef]

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OK i am newuse9,+ that's much different from your original question/ statement/title .
I don't pay any attention to triangles, i record price, 200 day moving average+ lots of other things. An elitetrader named that a ''barbed wire range'' I call it sideways slop-chop trend; easy to find, define, just like a barbed wire fence. But i try to avoid a chop slop trend, aka barbed wire range/ fence ;unless i'm getting dividends. Welcome to the real world; not so easy all the time, most dont do well with good trends AND chop slop trends

???

Can you kindly provide me with a real life example.

Thanks.

 

[volpri]

Wow, that's really good stats. I am in spot Forex.

How does one know momentum has died off or is unlikely to continue in a trend on the chart? Divergence? Weakening impulse waves?

https://www.tradingview.com/x/tb7aGDOD/

I was short that retracement in hopes of downtrend continuation however stopped out, only risked a little. What else do you see that I wouldn't that would have not made you take the trade?

1) overall context bullish as from what i can see to the far left price was in a large trading range and trading at the bottom of that range.
2) wedge bottom just before your short entry.
3) 27 bars back exhaustive climax (big red bear bar) with no bear follow thru bar but instead immediate buying. That was followed by a sideways price action in the form of a range or you could even say a triangle (although it doesn't look like a triangle but that doesn't matter one iota) as three pushes up in a sideways move is a triangle. But, you can call it a range or triangle. Triangles are PA just waiting for a BO. Bo can happen in either direction.

So, over context PA at bottom of larger TR. ALSO, AT WEDGE bottom. THEN sideways PA. ODDS favor a BO back up towards to larger TR top. I don't know what happened after that but odds favored at least on good leg up and perhaps two.

 

[murray t turtle]

???

Can you kindly provide me with a real life example.

Thanks.

%% Sure, Iron chief; i also use a 50 week moving average to substitute for a 200 dma, some use a 40 week moving average. So back to my example ;click up a 3 year weekly SPY candle chart[ or barchart]. NOW Notice how the polar bears sometimes SLAM it below 50 week moving average . MODERN TRADER magazine considers a down move of 20% [2015] a bear market, me 2, some use a 200 day moving average for that. GOOD uptrend for SPY,QQQ, 3 year[ except the time in 2015 it was closing below 50 week/200 dma.....]

Good downtrend[ bear trend ]for TGT, 3 year chart, 50 week moving average.Mostly below 50 week moving average. Most companies are NOT run as bad as TGT- LOL

 

[ironchef]

%% Sure, Iron chief; i also use a 50 week moving average to substitute for a 200 dma, some use a 40 week moving average. So back to my example ;click up a 3 year weekly SPY candle chart[ or barchart]. NOW Notice how the polar bears sometimes SLAM it below 50 week moving average . MODERN TRADER magazine considers a down move of 20% [2015] a bear market, me 2, some use a 200 day moving average for that. GOOD uptrend for SPY,QQQ, 3 year[ except the time in 2015 it was closing below 50 week/200 dma.....]

Good downtrend[ bear trend ]for TGT, 3 year chart, 50 week moving average.Mostly below 50 week moving average. Most companies are NOT run as bad as TGT- LOL

Thank you, I think?