well, I don't actually like Jesus, even though I gave up a good part of my life devoted to him (notice that I didn't capitalize "Him.) but you got that right, finding the timeframe you are comfortable trading But it can bite you in the ass, both in a good way and a bad way, like a lot of us forex traders have been talking about. If you were short, it was no big deal, just another losing trade like so many others
man, you got that right there are two columns in my ib account window, and one of them is "realized" and once a number goes in there, whether profit or loss, it can never be removed.
hmmmn, do you want to make enough to prove to your old lady that finally you were "Right" or do you want to realize that once you are done with her expensive habits, it is quite easy to make a living trading?
When you spot chop on your timeframe of choice increase timeframe until you see a trend, then trade accordingly. Too many posts and too little applicable info.
Auto..., not trying to come across as an ass - but Chop in chosen TF = PB in Higher/ overall TF - (most likely) Bi-directional moves (trends if one prefers) in Lower TF(s) - (and likely trade-able) No doubt ============= just a few things to consider wide range chop ..., or narrow range chop with volume..., without volume time of day location in overall trend back to back bars..., or over a series of a few bars on one's trading TF..., on the lower TF..., on the higher / overall TF near an announcement / earnings/ event.., or not But hey - what the hell do I know anyway Bitching & arguing is always more fun - than learning and earning (I suppose) RN
oh my aching head, now I remember why I switched from alcohol to pot. 2 am on a Sunday morning here in the Midwest. I like the original post, and I like all the answers. This is the crap we deal with every day. like my local government tells me when they need to sell lottery tickets to pay for their next fiasco, "You gotta be in to win!" I'm just a journeyman trader, I'm not smart enough to know when to get in. I'm in all the time. It's about enough to kill a man. As a matter of fact, I was a young man when I started trading. Now look at me. For the longest time I just quit trading GBP, because it was always chopping on me and I was always on the wrong side of it when it would trend. But I needed to get short the USD and the EUR so I put on some long GBP against both of them.
What do you expect in ET ? Don't forget if someone in ET here really have the "solution" for this, he will be the richest guy/girl that you ever see in your life.