ah, it's just like fishing for crappie. In the springtime it's so easy it's stupid. You can do it, I can do it, and all the grand kids can do it. In the summertime, they're still down there but even for the most experienced fisherman you'd swear it is darn near impossble to catch them.
Recall I said context is one of the four necessary skills Review the below attached charts Both are the same stock, over the very same TF - however the first is a smaller TF, the second a larger ================================================= Take your setups and see if you can identify low risk entries ================================================ Context, and specific context at that â is absolutely necessary Then you can utilize your setups as you identify them â within the context they would be valid in A HL when price is hitting / about to hit an upper channel line â is NOT a valid long entry A LH when price is hitting/ about to hit a diagonal lower channel line â is NOT a valid short entry PA develops verticallyâ¦, horizontallyâ¦, AND diagonally Btw I omitted the price, volume, and time on purpose â I donât want anyone trying to trade this stock based on crap I post CA Any and every short cut you try and take â the market will make you eat it â in spades Imo â psychology is still the most important â but all four are absolutely necessary RN
Crappie or Brim (Bluegill to Yankees) with fried taters and onions Dipping sauce for the fish made from ketchup, horseradish , and french dressing That is gooooood eatin eta - use a depth finder and look for Christmas tree patterns (it'll be the crappie stacking up) not kidding either RN
OK, above you make it clear that the failure of your method is that you're not following your method, but earlier it sounded as if you were saying your method doesn't work. The "context" you refer to is the reason I implemented specific trade filters. Every pivot that results in a significant price swing starts with the high or low of a previous price bar breaking in the direction opposite the previous price swing. But not every break of a previous price bar results in a significant price swing. That's where context comes in and I created a list of filters to rule out low probability trades, or trades where a survivable stop loss would be far greater than the potential reward. We were just discussing this today in chat, how high probability setups are a dime a dozen. You can find them in books and on-line, explained concisely. Finding a particular Holy Grail of entries really is simple. What's so difficult (and is the part of the equation most aspiring traders never master) is disciplined trade management that preserves the edge inherent in a well-defined trading plan. So, you had an Aha! moment. Now make it real through your actions. You can't think your way into right action, but you can act your way into right thinking.
NoDoji, I've started sim-trading my method. I'm only trading according to my plan. While I am practicing through sim-trading, I'm going to analyze to see if I can implement filters in order to create a much more specific context in relation to my setups.