Would you advocate on slower days moving to smaller timeframe to find trend setups? Of course you then can get into habbit of doing that out of impatience and forcing trades.
Good porn will do I got everything I need right here man, happiness and health can't be bought, everything else is just one click away. The one thing I ask to anyone who makes it with my help is to help out those in need with whatever you can when you finally reach the skill to milk the market consistently and obscenely. There is a lot of hunger and suffering in the world. Believe me when I say giving is always more powerful than receiving. You will NEVER catch me selling anything unless one day I decide to write a book, not even in the plans, too lazy. However, making it almost obligates you to pay it forward to those in severe need. You should not have a problem with this as the money incoming is just disrespectful to the working class once you truly make it. All you need is right here on this journal, add screen time, experience, solid discipline and I'll say, welcome to the 1% Anek
Far, I usually do that, if I'm unable to find a trade in the 5000 or 610 tick chart I might move down to 233. Screen time will answer these questions far better than I can. Anek
Anek, when averaging up, do you have anything you look at that trend might be ending? Like after 3 or 4 retracements, it gets riskier trend will continue, etc.? Do you ever try to anticipate a trend change using 123 reversal or 2B top/bottom patterns to get into the first retracement of new trend or do you consider it best to wait for a defined trend? As Trend traders, it is easy sometimes to think, oh I have missed the move, better not take this retracement, but I think Gann is quoted as saying "market is never to high to buy or to low to sell". (unless you are near major S/R)
Well said and I agree totally, the power of giving is indeed much more mightier than receiving. Even though I'm not a consistently profitable trader, but one thing is consistent so far, I've made monthly donations to about 10 charitable organizations (though each with a very small amount , hopefully, I can contribute some more in the coming future).
Three Cheers for Anek...... Thanks, you are really a gem.....If the rest of the world had that attitude we'd be better off..
Far, Time and sales helps. What is big volume doing, who's selling, where at, etc. How hard of a time is price having to make a new high, how easy to go back to support, etc. All these tips helps. However, make sure you don't actually call a top until a downtrend forms or a double top followed by a ll and lh is in place. Of course none of this is infallible, sometimes market will fake you out but if you do it correctly risk should be minimal while the odds are always in your favor. It's always about the odds. Think of it as trying to be the casino and not the player when gambling Hope it helps. Anek
Anek, I hear a lot say they use volume, for example enter retracement on falling volume and not rising because that might indicate reversal. I have never been able to effectively use volume. Since you don't have that on your chart, I assume it is not something you look at much?
I don't use a volume indicator because I feel it provides little info. Now Time and Sales is invaluable and that provides all the volume info I need. This is widely known as reading the tape. Again, something that comes with screen time. Don't complicate things, it all comes down to what is big volume doing, buying or selling ? Simple as that. Anek