Anybody declaring trend following is dead should get their eyes checked. Not sure what charts you are looking at but mine show trends still going strong for over 7 years now!
Funny, I'd be losing money this year if it wasn't for my TF strategy. TF done well is quite reliable and choppy markets don't do much damage.
Random fellow? That's the smart dude that runs Renaissance Tech hedge fund, co-created String Theory, and is a multi-Billiionare.
This is why people can't be successful at trading.. Because they are stuck in a little box and can't think outside the box.. If you read my whole post properly (not glancing at it) then you would notice that I have no issue with trend trading at all.. My issue is when newbies only want to trend trade, and don't know anything about the market.. Most traders don't even understand choppy markets.. All I'm saying is, when you understand everything else, trend trading or whatever trading will become much easier..
Your response doesn't make no sense at all.. You don't find levels necessary but you only use them for entries? What the heck do you think I use them for? lol Correct me if I read that wrong..
Calm down little buddy. Personally, I could care less about any "level" when I enter a position. I do care about a level when I'm trying for a larger gain...why take the 50/50 chance at a "congestion area" when I have a good profit already? Take the profit and don't be greedy! I know the end of my post didn't make sense...it was too late to change...sorry. If you have success at "levels", don't listen to me.
Yes, some of my words don't make sense. I often trade after hours/overnight and get behind on sleep. Sorry to any academics on ET. At least the prior sentences made sense...right? They could've been written like this: Jes, som off mi werds dont make cense. I offtin trede afner ours/ubernight and gett behind me on sheep.
Lol don't worry I am calm.. I didn't get offended at all.. When you work for yourself and don't have to answer to a boss, it's hard to get mad.. Life is good.. So what do you look for bonecrusher when you trade?
Bar patterns and price action are huge for me. I do look at volume and its relation to these "bar sets" on some setups. Couldn't live without "bar sets" and what price does around them! Really, I don't have much on my chart at all... a favorite indicator that I developed is below the chart. When it comes to exits, I use the DOM to a degree and pay attention to S&R for those larger gains. Some setups use parts of the previous days bars (proprietary). To me, "levels" slow down my progress to an eventual profit...they can be a pain in the ass as I get impatient for that profit. If I paid attention to S&R before entries...I'm assuming I would enter a lot less trades as it would psych me out! FYI, I trade treasuries a lot and I use negative R:R setups frequently. Don't try this at home!