If your method works across ALL times frames and on stock index futures and it's KISS (simple) - what's the trade on ES after yesterday's close moving forward? Long, flat (no signal at the moment) or short? Surely this should be easy to answer and in no way a distraction for your trading as it can be posted outside trading hours. That's where the rubber meets the road, IMO. At the uncertainty at the right hard edge of the map. Not last week's chart.
Wasn't much in the AH session... dips to 82-85 ish could be bought. None of them went up much as the market sitting on hands until after JPow speaks again(?) Looking at the chart this minute... and if you HAD to have a play on.... the play would be Support 3984, Resistance 4000. It would be nice to catch a swing across that 16 point range, but the market hasn't offered that yet... only part of it. And you have to consider that we've got a "news-type" day with JPow speaking... sort of like Fed meeting day.... do you want to have a play on and be subject to a large(?) negative surprise. It's great to have a play on when the news supports you, but can be horrific if surprise is against you. Not too long ago, ES dropped 120 points in 4 seconds on surprise news. That's not a game any reasonable trader should play, IMV.
Ah. You would think, but I doubt you'll find that here any time soon. People enjoy their privacy and shit talking. This isn't recent and it's not letting you drive the car, but it's a document TraderTom put together based on old Avid Trader posts where some showed how they drive. I know you don't want more reading material and you may have already seen it but figured I'd share anyway in case it helps. Avid Trader Tribute.docx (tradertom.com) Happy trading
Well you could start. Show the forum your plan for your next trade. Where you will open your position and why, where you will exit and why and position size relative to your account size.
I think its probably best to stop posting for a while. There are already enough hindsight traders here. I'm actually the idiot to keep coming back thinking I will find what I need here.
Probably a good idea. When you post you are just repeating what you believe to be true. If you read what others are posting you might learn something.
Actually some good stuff were being shared here on this thread by OP. You might need to understand well more about price structure and how PA works so you can fully understand what OP says. Besides, your way of interpreting S/R from your previous chart here demonstrate that you still have a long wayyyyyyyyy to go. Achieving high win rate requires tremendous efforts and skills to understand PA depth before you realize how easy trading it can be without doing it emotionally. Maybe that's why only very few who actually get it. Good luck. P.S. OP and I never chat with each other before. I'm just giving you my inputs since I've seen those things works for so many times.
Okay. I'm not at my trading station at the moment, but in principle I agree with everything you're saying. Now, where you have to agree with me is that what you're saying here is certainly not KISS. If you bought 3984 and got out at 4000 - you'd need a 10 point stop for a reward of 16 points. That's a R/R of 1.6:1. You'd need a fairly high win rate to make that work. Now, maybe you're a profitable trader and you are indeed making money, but if you're doing so and it's KISS for you it's because you've been doing it for a long, long time. What you taught here or have tried to teach is way, way too vague to have any applicability for accurate/profitable trading for a newbie or intermediate trading.
KISS is not about "results"... market and trader behavior control that. KISS is about knowing the SIMPLE technical setups and executing them with a SIMPLE plan. That's all you get to know.. the rest you have to "play by ear". But KNOWING the setup is something... a BIG thing, actually. That's what you have to work with. If you're wishing for more... sorry.. you can't get that. You don't "need" to risk 10 points on this trade. In fact, I suggest a smaller stop as "apparent" profit potential doesn't justify a 10-point risk. And if you don't like the r/r on this one, just stand aside... as I did. (If I were going to make a limit buy on this chart with a 10-point stop, I'd have been stopped out with 10-point loss just before it reversed up. I might have played 84, but maybe with a 4-point stop... that still would have been a loser.) Look... the market "has been and apparently still is sideways-choppy". ANY play you make in this time is less certain and higher risk. Identified as such, just "standing aside until the indecision is resolved" is the conservative play. All IS KISS... "Buy Support"... "Sell Resistance"... conservative stop. Micro analyzing every wiggle is of zero value.... unless you plan on trying to scalp... which I advise against. If you learn Price TA and trade it correctly, the win/success rate will have you in apoplectic shock! That is... "It's been right there in front of my eyes, but I never saw it". Up to the minute... sideways chop range has expanded to 3974-4004. The play now is "buy the bottom the range, sell the top of the range... chase breakouts*". All the rest is noise. WHENEVER the market breaks out of this range, you should chase it.... will indicate a change in "market psycho"... you don't get to know whether the change is short term or longer... but you still want to be on the right side of it* for the try. *That's Price TA! KISS, baby!