the spx and dow are both turning at a res area ,may continue to drop, the transports, hovering at res,setting up a 3 step pattern, need to drop with the dow and spx, ndx has fallen below the mar 14 line and needs to test then break the 2012 supp line, 35 pts lower than fridays close. these charts are a continuation of those posted wednesday in this journal, what the trader is looking for in big picture down to the small is the institutional players, one of the best trades is when they are all hitting and turning at resistance together, like a fleet of large ships, arriving at port, unloading their cargo, reloading with new cargo and leaving port together
Interesting but.. Guess it's too desperately drafted platform. If you are not able to to take the bull by the horn, most easily to furnish yourself with conspiracy theory and grandly spread your doctrine among noobs like me
For the past few years I illustrate on ET example after example of open and direct price movement* and the anti-TA "Surf Camp" warns all the noobs to stay as far away from me as possible lest I cause their imminent financial demise. Note to NOOBS: If you come to believe Surf's statement above you will end up with a mindset that will surely cause your financial demise! :eek: * In a given time frame, price is either trending or ranging. It only takes 3 swing price points to determine which and to profit accordingly from the odds in your favor.
You would be ok--Linda, well your ok, anyway! --- if you just admitted there's lots of intuition involved in your way of trading. with that, I have no issue===
The zone has little to do with intuition It is the absence of all conflict While…, Being completely in sync with price movement / the behavior creating that PA Then…, Trading such Where one is neither ahead…, nor behind – rather right smack dab in sync To an outsider – it does appear as if intuition is involved – rest assured it is not ============== Btw.., Reading the above..., it could sound as if this means one trading in the zone is capturing every little gyration price makes – possibly even without any losses Please don’t be so myopic – or stupid It means – absolutely.., one has losses…, and wins… But neither has any smidgen of lingering affect on the next trade / next series of trades / on the trader / nor the trader's actions eta - and a missed trade is simply prelude to the next Think - follow the process - to hell with the results ============= NOD has no internal conflict.., trusts her methodology implicitly..., is able to trade it (no compunction) Nothing else required RN
I once ran a paper-trading study of my intuition for about a week. I put on my trades as indicated by my plan, but also logged on paper the prices at which my intuition (what feels right at the time) told me to trade. My intuition was so wrong that fading it provided a stronger edge than my regular setups! As a result of that little "study", I discovered a new strategy which led to my first fully automated strategy. Because my early trading experience was based on RTM counter-trend trading, my intuition was not to be trusted. Learning to trade in the direction of a strong trend felt as difficult as walking on a high wire without a net. Now I can do it in a timely manner, but it still feels like I'm putting on the dumbest trade in the book.
Yes, I'm battling my intuition amongst other things. I don't understand why trading with the trend is so difficult, but it is, at least for me at the moment. Show a non-trader a chart with an up trend and ask what will happen next. The answer will most likely be: "it's gone up a lot already, it's going to go down". I think I'm still approaching things with this same basic premise!
Another view to id patterns? Combination of emotions and sophisticated algorithms. Or is this anything well known?