SAMPLE WORDING OF YOUR IDEA: I like this wording just used in communicating with a potential candidate for designing science curriculum to be used on my yet-to-be-established online K-12 Christian academy and am therefore archiving it here so I won't have to try thinking of it again in the future... If I ultimately end up not going through Upwork, I will instead begin looking for local (Los Angeles area) candidates via Craigslist. But if that happens, it will probably be at least one year from now and it will be a unique arrangement where my team will spend part of their time working on projects such as producing free K-12 educational videos and the rest of their time generating their own salaries by acting on trade signals generated by algorithmic computer models programmed to highlight trades that meet the criteria I am currently using to trade foreign currency pairs manually with a virtual 100% daily success rate.
Thursday / July 30, 2020 / 11:00 AM PST I posted this entry about a month ago, when I switched to an emphasis on my lower panel indicators... At the time I wrote that I thought the change would help me to be very selective so that I would only enter winning trades. However, subsequent to adjusting my point of view and where I was placing the most focus, I discovered a handful of errors in my “arithmetic” that were affecting my performance, which I felt I could correct. Though someone told me that I "would never have something that is 100% static and ready," my experience with how concepts like local maxima and minima, absolute maximum and minimum, absolute extrema, and inflection points could enable a person to use differentiation to optimize solutions in calculus (via function equations, domains, critical numbers, and endpoints) led me to believe I could use similar concepts to optimize the measurements I was plotting on my candlestick charts. Here is the result of that optimization process compared to the “culminating configuration” from above... So now that I have nothing more to do with respect to the construction of my charts, I have shifted my focus BACK to optimizing my performance by becoming excessively fastidious with regard to which potential trade setups I will pursue and when. I have more-or-less reached the point where I “cannot lose” when trading the binary dot com platform (in terms of net profit/loss) and now need to do the same, if possible, with respect to the MT4 platform. If and when this is accomplished, I have a significant amount of additional capital (for me) waiting to add to my initial OANDA live account deposit so as to take full advantage of the “perfected” Forex day trading system, God willing.
This is just ongoing practice—not an attempt at fastidious decision making, and so helps confirm in my mind the validity of how I now interpret my charts...
Friday / August 21, 2020 / 5:15 AM PST Recent suggestions to myself which seem to be holding true: Incorporate a more holistic perspective to your trading by always remaining cognizant of what things looked like from a daily, four-hour and hourly standpoint while operating in a five- and one-minute environment. It’s not exactly like you weren't doing this already. But it’s just that you need to place a much greater emphasize on it, to heighten your awareness of it while interpreting the market. Recognizing that the four-hour price range is the foundation on which price action is built. Not four-hour charts mind you, but four-hour price ranges. Conceptualize them as akin to the backbone of the Forex market, on which the rest of the “body” is constructed. This means that when price action is taking place above an upward sloping blue-line moving average, it will generally continue to do so, and of course, the reverse is true as well. The “TUBE” is king. It rules! If one wishes to know where rates are going in the immediate future—look at the TUBE!!! The Sidewinder, which is now designated as Sidewinder Jr., was too sensitive to momentary price fluctuations and had to be enclosed inside Sidewinder Sr., which was constructed based on a slightly higher timeframe, and paints a more valid picture of when rates are genuinely reversing direction at the short-term binary option (or scalping) level. (However, I don't think I'm looking at these two indicators anymore, so I believe I might have replaced them with a micro price range envelope and an instantaneous moving average envelope.)
Wednesday / August 26, 2020 (The above process has begun.) MILESTONE... The Culminating Five-minute Chart Setup: I have recently come to conceptualize the four-hour price range as the foundation on which Forex price action is built. Not four-hour charts mind you, but four-hour price ranges. I now regard them as the backbone on which the foreign currency pairs’ market structure is constructed. Nonetheless, at this point I am also of a mind that the 90-minute baseline is superior to the 240-minute baseline as a measure for detecting intraday reversals. Moreover, when it comes to forecasting where price is ultimately headed at the intraday level, the 90-minute baseline fills this role much better than does the four-hour baseline given that the latter evidences far too much lag. Over the last week a lot of my attention has migrated down to the lower panel… It has gone through a number of variations, with the one on the bottom probably being the "final" version more-or-less, but the main principle has remained the same. The histograms convey the direction of the intraday trend and spikes above or below them as formed by the oscillators identify prime entry levels for executing trades (i.e., pullbacks in the prevailing trend). The histograms are generated using a proprietary moving average most closely approximated by the 30-minute baseline. Moreover, the intermediate intraday price range is based on this same moving average. At this time, the 90-minute price range is plotted at three levels. Other price ranges drawn on the chart include the four-hour price range, the daily price range (which is also plotted at three levels), the bubble worm at the lower end, and the price range for the instantaneous moving average at the lowest level. I have been using this culminating chart setup to practice scalping the market during these hours of relative inactivity, but it can also be used to reap gains of 10, 20 or even 30 (or more) pips during periods of elevated liquidity/volatility.
Thursday / August 27, 2020 Start assigning more significance to the four-hour price range on five-minute charts, especially when it converges with the 90- (instead of 60-?) and 30-minute price ranges.