what u people are doing is confusing yourselves with what a day might be...or probably will be.....if u r intraday trader u r in trouble if u trade money on that stuff...........unless losing doesn't mean u r in trouble........if i know the day will be up for the day, I could not care less.....what about all the turns during the day that produce many points ? on the way to your up day or down day....?????not scalping I'm talking sometimes big points and lots of money..........on the way to your guess...............i have seen more of that than my stomach likes to remember.............my man had 28 millions backing those kinds of studies and he lost a small chunk of stuff...........not being negative, being honest ....and I could be wrong for your trading but not for mine.....I prefer intraday with a system over 90% correct filtering the scalps.........
YM Traders
- Thread starter volente_00
- Start date
Porgie, chill.
This isn't a trading system I'm talking about. I'm not saying that you should blindly buy at open if there's a 53% probability it's going to be an "up" day!
It's just a means to give yourself a bias for the day, that's all. And price patterns are only one factor. If you can combine several of these factors, you can at least give yourself a pretty good "heads-up" before the opening bell of what to look for that day. That's all.
Like you, my #1 priority is "what are the price bars doing right now".
Price is king!
This isn't a trading system I'm talking about. I'm not saying that you should blindly buy at open if there's a 53% probability it's going to be an "up" day!
It's just a means to give yourself a bias for the day, that's all. And price patterns are only one factor. If you can combine several of these factors, you can at least give yourself a pretty good "heads-up" before the opening bell of what to look for that day. That's all.
Like you, my #1 priority is "what are the price bars doing right now".
Price is king!
Porgie, I realize that you play your system close to your chest, but could you at least say whether or not you draw trendlines or support/resistance lines? My most profitable (paper) trading has been done this way.
Also, I don't see how an objective, analytical approach constitutes "mind bias". A "mind bias" sounds more like "gut feel" which is certainly not what my software is looking for.
Also, I don't see how an objective, analytical approach constitutes "mind bias". A "mind bias" sounds more like "gut feel" which is certainly not what my software is looking for.
FOMC minutes, buddy.