why is this so difficult to do in real time? it is because, even in one time frame, the number of trends are numerous. and each one has trend lines ,trend line breaks, and tests. you need to tag each one and that can be a daunting task. it is for this reason that trading looks easy simple but is ,if you want to know exactly what you are doing, like I do, it is actually complex. one way is put a stop and that works for most. for me i never liked a safety net. if you are putting money you should be 100% sure. and you should only exit when your premise is no longer valid: which should be when the market condition, you are trading changes
The last couple of days, I looked into prop firms that cater to retail traders. It is a great business model, for the owner of the prop firms. Guaranteed profit for the firms if they can gather enough traders under their umbrella. The business model is built on hope, for the retail traders to find their pot of gold at the end of the rainbow. These days, with zero commission, I am better off trading my own account with the fees I saved from pay to play.
in one time frame, the number of trends are numerous. this is why a ema gives only a very limited view of scenery. and they lag. trend lines are beautifully local ,very little lag and for small swings work like a dream
prop means fraud...in most languages. but for Indians that is the only option if you want to be a world player
. In his long journal, @volpri discussed his use of channels and described how he has adapted some of Brooks' teachings. Is there anything there regarding channels that might be helpful to you?
@volpri was quite active but did not see him recently. i wish you had told me this earlier-thanks for the help. i have worked it out. seeing others sometimes is not a good idea because they customize it to their needs, and may not match your objectives. Brooks does use trendlines and channels. and he is one who pioneered the use of micro trend lines and micro patterns. but i always avoided TL because i thought-wrongly- that they were too subjective. the huge irony is that they are quite the opposite... they are local. almost no lag. do not forget that everything in TA is lagging. since price is known only the past. this is true of all form of analysis: you need to have something to analyse and that can only be past information.
combine trend lines trend line breaks and PA and you have a trading method that, traders only dream off. i have been dreaming of this for 15 years