Why Is The Obvious Not So Obvious?

The only thing that I can think of that makes a difference is different groups might be using certain timeframes to initiate trades.

If you are looking at the hourly bar chart..and initiate a trade off the 1 min bar chart..then you are not really following the hourly group..are you?

Standard text book trading will cause you to lose money..for if it helped you make money then every retail trader would be successful..which of course is not a fact.

If you are following the hourly traders..then you must trade using the hourly chart.. common sense..no!

Next question is..how do you know what group is using the hourly chart..and for the ES are you sure any major group is trading using the hourly chart?

So many if's and but's..and all really to no avail!

What was posted in the first post again.. something about a prerequisite..is a prerequisite not something that must happen before something else..in other words.. one must do something before one initiates or closes a trade..what might this something be?
 
_eug_ said:
View attachment 174927 Look at the price action over night. We rallied to 20.50 which was the last support lost yesterday. We sold off from there. We sold off again when we came to that area. Next attempt we broke through and traded all the way up to 29 which is the next support lost level. From there we are selling off again.
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For a start if I were you I would use a bar chart..it might not seem important to you now..but when trading it might become very important..if it makes no difference to you..then use a bar chart!
 
MrScalper said:
The only thing that I can think of that makes a difference is different groups might be using certain timeframes to initiate trades.

If you are looking at the hourly bar chart..and initiate a trade off the 1 min bar chart..then you are not really following the hourly group..are you?

Standard text book trading will cause you to lose money..for if it helped you make money then every retail trader would be successful..which of course is not a fact.

If you are following the hourly traders..then you must trade using the hourly chart.. common sense..no!

Next question is..how do you know what group is using the hourly chart..and for the ES are you sure any major group is trading using the hourly chart?

So many if's and but's..and all really to no avail!

What was posted in the first post again.. something about a prerequisite..is a prerequisite not something that must happen before something else..in other words.. one must do something before one initiates or closes a trade..what might this something be?
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I am mauling this over. I appreciating you posting and making my brain work here.

Anyway today's trade is Short at 28.50, Stop 31, target 21.50, SHBL play. I entered pre-market. Again still paper trading as a self punishment.
 
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_eug_ said:
I am mauling this over. I appreciating you posting and making my brain work here.

Anyway today's trade is Short at 28.50, Stop 31, target 21.50. I entered pre-market. Again still paper trading as a self punishment.
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Stop might be too tight..but it depends on what way you are trading and how much you are risking per trade?

IMG_20170628_145616.jpg
 
_eug_ said:
Got stopped out of the short.

I got a few markets as a watchlist which I check every few hours. Not to take trades but just to study market behavior and make observations.
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Waste of time.. you are not paying attention..which is why you got stopped out.. you were making money but let your "opinion" get in the way.. you will never make money trading like that..this is a very serious business..and very costly for those who dabble without paying full attention and doing the required work..no gain without the pain..the "easy money" story is for the gullible..one of the hardest jobs ever to master..but when you do.. you will sit back and laugh at all the fools who "work" for a living :)
 
MrScalper said:
you were making money but let your "opinion" get in the way..
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Right there is the obvious reason why I lose money in trading.

On the same note. I am short again here from 2430.75. Same target as before. Look to me like we ran out of buyers on this breakout.
 
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