Hi Frost; I lurk your journal every few days.. it's time to throw in a post. 4re got it right. You are using too many crystal balls. And to top it off, you are changing which crystal balls you are using! Here's the deal dude... You NEED to become minimalistic. No more than 2 time-frames visible. No more than 2 indicators visible. And 1 T&S window. Now I'm not telling you how to trade, but you NEED to become an "expert" in the usage of something! Right now you are jack of nothing, master of modification. Someone previously eluded to mastering indicators. Not agreeing or disagreeing with usage of indicators, the point is right on. "Expertise" is what makes an edge; An edge does NOT make an expert. Good trading Osorico EDIT: In case you're wondering (not that it means ANYTHING), I use... 2m & 15m charts, and a glance at a daily in the morn. Detrended Price Oscillator is only visible indicator; maybe a glance at RSI from time to time. And of course a T&S window.
Frost, if the lining up of those indicators gives you a clear signal and gives you a small edge, then take it. Just make sure you sim before hand for awhile and backtest it for several years. Trading is all about the accumulation of edges and probabilities, thats it. The success will come from money management, discipline and trading the plan. You are NEVER going to find something that wins 100% of the time, losses are part of the business, just look at them as expenses. I look at my trading as a casino, except I have 70-80% odds everytime i make a trade instead of 52% or whatever the house has. There are 50 ways to skin a cat, if your way works then go with it and dont listen to anyone else. The greatest demise of a trader is inconsistency and no confidence.
I totally agree, I use a 5m and 15 min chart and glance at daily throughout the day. I also highlight key chart patterns on the daily so I have an idea on what to expect through the day. Frost, even if you don't have all those indicators up on your charts. If you need those to make your trades it is the same as having them on there. What you might need to do is think about how th einstitution traders decide to trade. They keep things very simple and are consistant. They find a plan that puts the odds in their favor and just do it. Everytime, all the time. Here is one of my recent charts. When I identify a pattern setting up I go ahead and draw it on the chart. I even post the chart in my journal for everyone to watch. I don't need 50 trade signals a day as I usually only make one or two trades a day. If you take the time to cherry pick the BEST trades then you will start making serious money. 4re
the rolling stones are really rolling my market moves up and down always it can never move sideways that is impossible what U see is not what I see you are zooming in and u must zoom out is a 60% system good? not on your life too much emotional capital expense shut down giving money away and test and simulate realtime for a year or 2 cut losses short? not........cut them out until they are rare as hen's teeth never forgetting breakeven is a WIN...HOW IS IT A LOSS? IF U DON'T LOSE MONEY? I AM SAD TO SEE THE SAME THINGS RE HASHED A MILLION TIMES DO THE SAME PATTERNS HAPPEN OVER AND OVER YES BECAUSE THE MARKET IS NOT RANDOM THAT IS WHY WE CAN RECOGNIZE THE SUPER HIGH PROBABILITY OF MARKET DOING WHAT SYSTEM SIGNALS INDICATE IS HIGH PROBABILITY MOVE NEXT........NEVER 100 %.......SOME DAYS AND MANY YES BUT NOT FOREVER AND ALWAYS......... let profits run.........not........get out with the goodies while u can AND enter again with a bigger account trail the stop....go for it....they love you for that one.
Hi 4re, as u know i get wild on the weekends for one who doesn't mess with booze or dope....stomach too weak for booze and seen too many dead people too close to home to mess with dope.......sides that, i can't do those cause i don't believe it is right to put poison into the old body.......now i'm preaching instead of trader talk........i hope u r doing great and not overworking yourself.......keep up the positive attitude and make the trading work for you......you have the right attitude and character for it....based on all your posts.....porgie
Don't like the taste of booze and dope will get a man thown in jail. Don't mess with either one. Love the taste of market victory pie though. Know what I mean... You'll have to stop by the thread and say howdy sometime. I got it back up and running. Too many requests. Just stop by here every once in a while to say hey to Frost. I want him to make it. 4re
sounds great......if he will be patient and determined until he finds something, anything that works with consistent low or high points and his confidence grows, he can make it.....it is doable....even to the point of unbelievable........
Well... maybe we should let you give Frost some more pointers instead of "bitch slappin'' me. My wife does enough of that already and I am in constant pain from it...
i truly hope all good people everywhere can find what they need to be happy traders.........the business of trading is unbelievable and unbelievably difficult to master.......we are the problem.........we can whip us.....it takes time and can be painful......throwing money at it won't help, actually hurts as emotions suffer.........and fear of losing again and again mounts to the p;oint of lead paws........determine the best signal and take i t each time it is set up as it always is when points follow..........must take all good signals.........during your trading hours..........based on your studies and your hard work........stick out your hand for freebies instead of working in this business and you will chop your own head off and it is all that will be left in your hand...... jmho......:eek: