This makes sense in a way I can see that complete attention to short setups only or the contrary long setups may allow for greater focus. You don't have to "shift gears" ...very interesting
another advantage is that on the way down it is previously charted territory and the targets are mapped out
I must say the charts generated by your method are intriguing unlike the charts used by other traders. Any spare time I have in next few weeks I'll spend nosing around on those websites you were kind enough to provide me. For right now I want to get an overview or the big picture, learn to terms enough to get a feel for what your intent is.
It makes sense though. You focus on one direction so you don't get confusion, and you will spot potential short trades more readily since your radar is always screening on that particular direction. Mostly, short trades are more rewarding than long ones. Falling down is rapid in most cases, for fear is stronger than greed.
Getting out of this short right now. I'm on the wrong side! Covered short from 841at 2955 Long 2955 -114 pips Must face the objective truth as I "know" it to be at the moment. This is the direction I think I should be.
on this chart this would be your target,it works better earlier in the day when it hasn't been hit so many times
all you need is a graph paper notebook from office depot,$5,start hand charting and it will teach you by osmossis,repetition is what you will see and you will easily get in and out at the right spots,it really is that simple for scalping, provided you always have a stop that you honor so you don't get killed when a storm comes up
Holding long into the weekend hoping for a gap up. Need to make back 116 pips gaps are nice way to grab a lot at one time. Placing a stop at 12899 because I have been listening to the advice
Yet another overnight/weekend hold? Talk about short term memory GoldenMember 09-08-12 04:46 AM âThose who fail to learn from history are doomed to repeat it.â Sir Winston Churchill
I have a stop in place. The WEEKLY chart shows a lot of room overhead for higher prices. Convinced me to reconsider my original plan to short my way out of my shorts. I mean since I am convinced this is going higher what's the point in holding one short trading another short? add to this a gap up would get back in a hurry a lot of lost pips. That's my reasoning and I believe it's sound.