Tonkadad, thank you for your reply. If we are not precise in what we describe, how can we be sure that we understand? For sure, according to our own abilities and experiences we can judge (with various degrees of accuracy depending on the individual) where we should be trading. However, when communicating with other traders we cannot assume that the "subtle mindset" as you call it is conveyed in our bare language. In order for any discussion here to be meaningful, we must make ourselves understood. Certainly there are elements of this which are experiential and therefore cannot be taught, however I doubt readers can understand or benefit from vague allusions to "levels of indecision" in the market. Gilligan's philosophy sounds nice, but the market isn't a democracy. Not all viewpoints are equally valid. I would suggest that "not go at all" isn't an option as one of the few certainties in trading is that any market will (eventually) move. So we are left with up or down. Right or wrong. One adds to your account, one removes from your account. Eventually all who are left participating are those traders who add to their accounts as the losers wipe out. So which side somebody ultimately ends up on is a function of their quality of thought, amongst other things. So perhaps some are more equal than others. If the description "a range around a level of indecision in the market" is clear to you, will you please explain for the edification of those who do not understand?
To further on Blotto's thoughts, go sign up with topsteptrader and follow their rules in the combine. It is 'forced' risk management. If you make it, then you receive a live $50,000 account. If you fail, then try and try again.
Ironically, CL's price action is more precise than ever around levels of indecision (designated by a flat 20 EMA or "barb wire" in Al Brooks' terminology). Once you get to know it well, you develop an uncanny ability to predict its moves in this environment. Good stuff for scalping. TD, thanks for reminding me of that Gilligan's episode.
To me, it's not that all view points are valid, it's that we need to see and be open to all possibilities. While true that any market will eventually move I was being more "precise" in my basic description of potential price movement, regarding "not going at all" and to be more specific, I am referring to price movement that just churns from one end of a range to another (a tight range) of course my idea of a tight range (non trade-able) might be a scalpers dream. TF (time frame) and time horizon are definitely part of the equation when talking about price movement and ranges I think we can agree that a range contains a certain amount of data, obviously a high and a low and data points in between, support/resistance. Indecision to me means temporary balance, a pause, tug of war, potential pent up energy, consolidation. So "a range around a level of indecision in the market" IMHO means an area where something is going to happen. You see it often, price is rolling up and down in a contained area, consolidating, oscillating between the high/low of a range. Example: CL is dropping down to the low of the day, (with in a couple of ticks) remember there is no precision, oscillates up and down within a 12 tick "range" of the low : will it breakdown or bounce there's your "indecision" Please remember this is my interpretation, not necessarily Nodoji's explanation, she would be much more eloquent.
Question: What is market noise? Answer: Market noise is the seemingly mindless back and forth movement on the smaller time frames. A traderâs definition of market noise is usually relative to the time frames that they are trading. A trader that trades a 1 hour time frame might think that the 15 min chart contains market noise while a trader that trades 15 minute charts might think that a 5 minute chart contains market noise. http://forextrading.about.com/od/forexfaqs/f/marketnoise.htm See you don't have to be a wizard or an oracle to Google a simple definition. A blotto is a blind drunk. So if a blotto posts on a message board, does that make him a blind drunk troll? I think so. http://www.urbandictionary.com/define.php?term=blotto
Blotto, I knew you would surface in this thread, but I was expecting emg first. You say you deal with facts: one fact is that few month ago when I read your post attacking Nodoji I felt sick and was sad to read that she would stop posting. I understand Nodoji very well, we speak the same language. I have been around this board for a long time but did not post, and followed her evolution and later on I read her journal again. And as a matter of fact most of her posts. She is very helpful along with few others giving away help without self interest. And I really understand her way of thinking even what you picked out "A range around a level of indecision in the market". I exactly understand what she means, because I traded at those places not once. So based on how I know her and her work, your comments and attacks here in other threads are unwarranted and tells more about you than about her. If you really want to help me or other people who are in the same situation as me, then stop bashing others and contribute. One can decide and ferret out which and whose advice to take. I am doing this journal as a learning process to tackle my mental obstacles preventing me being consistent and on the way or in the end I might lose money. Only after a week I already see that it was worth starting it. I went back and checked my trades again and tried to be objective. Out of the 22 trades I still see 17 good entries, and 5 bad ones, which someone might call haphazard. How can you evaluate the hole thing as a losing strategy with such a small sample size unless you are trading the same style (short term PA scalping) sharing the same entries and having some meaningful sample size of your own? I know my trading is imprecise and not good enough yet, if I were a perfect market timer I probably never started this public journal. But according to your initial posts you were not a perfect trader either out of the gate. About the simulator: I used it a lot. In the beginning I lost a lot on the simulator, whatever I did it was losing. I was very good at losing . I had to reset the account quite frequently. After a while (in years) this somehow changed after and the nth system and approach, and I started to make money on the simu. Now whenever I use the simu I can make âmoneyâ most of the days. So I could simu away for a while but at some point I still have to face the difficulties of live trading. I don't have a masochistic personality or a gambling issue. I probably have other issues preventing me to execute properly but no amount of simulating will solve that. My entry price is very important so as my stop loss as a way to manage the risk. I want to place the trade at an entry price where I find out early and cheap if I am wrong. This way I can trade more without much financial an mental damage. But you are right one needs a robust exit strategy and fear of loss is not one of them. You statement is correct, but the problem is that you think my problems are mostly technical, and I think my problem is mostly psychological. It is only partially true in my view, existing beliefs and damage caused by previous haphazard trading can induce the same level of stress when trading a valid profitable method and so screwing it up in the end. Of course the level of confidence is important too, and yes may be I am not fully confident in my current methodology in live trading yet. I explained it above. Making a living My current strategy works well with CL. There are not much to describe: There are 3 types of trades: 2 along the trend 1 counter the trend. I use the 5 min chart to determine the trend. If the trend is up and I don't expect much pullback I have 1 type of entry, If I think the pullback will be deeper (there are no fast entry or it fails) I have another type of entry but still along the trend. If certain conditions are present (important level, history of the trend, recent price action, candle formation, time of the day, etc.) and I suspect a deeper pullback I might initiate counter trend trade to ride the pull back. I know my CT trades in the journal look haphazard and they are not how I like them. (For me the trend is a thing which makes me money let it be counter to the main trend or the main trend in itself) I don't want to describe my exact entry points, they are variants of the ones in Al Brooks book. I see a trend, I wait for a pullback and enter with the assumption that the trend will continue. If you can contribute without personal attacks in the framework of short term intraday scalping then do so. But don't tell me that your way is the only way and there is no way one can make money this way.
Yes I think the same about noise. To me the 1 second chart seems noisy, but probably it is very orderly and profitable for some. Did not know blotto has a meaning. So you are even now. Hey everybody, let's keep the personal attacks, bashing , etc. outside and stay on topic. Thanks.
A negative day again. #1: -0.15 A trade I filter out in tests. But I took it here. No explanation. #2: -0.16 A trade I don't even take in tests. There is no signal here. #3: -0.11 A valid signal . Stopped out. There is no point talking about other signals I did not take.