Jack, you are being very specific recently in your posts and it is very appreciated. Might you suggest a start to look at your material given the refinement over the years, thank you.
I trade a real account not write a blog on a site I have problems paying for and shill for pump & dump hedge funds. Your YM call so far is decent but it no way makes up for your train wreck of a Euro/Dollar long (among many others) that you wouldn't even post an exit on, it was so bad. You need professional help with your obsessive need to come back in this site after being repeatedly banned for months.
not surf, just someone who recognizes good market insight. You Need to read this call and understand what he is saying. Anyone would be very wise to listen to him. He has proven himself over and over unlike those who sell courses etc. http://tinyurl.com/Faberagrees
Listen to someone that can't trade, can't pay whis website bill on time and shills for pump & dump hedge funds . . . right. Bye Bye
WHAT?!?! Trends are functions of supply and demand and yes if you see see an equity coming into a supply area in a 30 min or daily chart you really should think twice about taking a long trade on a 1 min chart just because on the 1 min it looks like it should be going up. You absolutely SHOULD consider multiple time frames.
I agree with you on your point regarding supply & demand. I agree with you on multiple time frames as well. I've been trading multiple time frames for 15 years. My point is that the equity information coming into a supply area in a 30 minute chart is specific to that chart. There could very well be excellent buying opportunities on a minute chart based on the specific information being created there. Those buying opportunities on the one minute chart show up as minor retracements on the 30 minute chart. One should never ignore the information coming in from the longer term chart because that information is stronger, being that it was created over a longer term period of time but one shouldn't ignore the shorter term opportunities presenting themselves on the faster one minute chart either. If one likes to trade those faster environments.
I am very happy the professor posted this. It clearly shows the bad effects of hindsight bias that damages many traders. He states that the longer a price series run continues the stronger it is, meaning the more likely to continue. This is totally wrong and illogical. The professor has fallen into the common trap. Length of directional movement had nothing to do with strength. It's time these market myths are put to rest.