Thank you all, there are some nice ideas for me to work on. This is exactly how my trading has been since the start of Ukraine war. 5 minute TF
Hey man, if you feel like it sometime, would you mind posting a chart image of one that worked and one that didn't and one that got away? 3 charts. Nobody expects you to show your hole card, so strip anything offa there that fits the nonya* rule. aka noneyafuckingbusiness* Charts, I loves 'em, I needs 'em, can't live widout'em.
You are not feeling ok. You are dishonest. you failed to read carefully uptrend with good momentum - easy to earn $$$ downtrend with good momentum - easy to earn $$$ choppy uptrend - easy to lose $$$ choppy downtrend - easy to lose $$$ jerky uptrend - easy to lose $$$ jerky downtrend - easy to lose $$$ chaotic uptrend - easy to lose $$$ chaotic downtrend - easy to lose $$$ messy uptrend - easy to lose $$$ messy downtrend - easy to lose $$$
Max, you strike me as the kinda guy that has seen a few charts and markets in his day and picked up a few ideas AND conclusions in the process.
my goodness! you are reading selectively. I started trading when there were hardly any charts!!! In those days, there were no computers for home use. Charts had to be manually plotted on paper. and if you want to add a moving average say MA10 to the chart, then every night you use a calculator to calculate (d-1 + d-2 + d-3 ...... d-10)/10 I used to plot ~ 10 to 20 stocks - very labor intensive! If my memory is correct, RSI, envelopes, stochastics, ADX, MACD .... were not invented. I don't think you can buy this graph paper anymore.
No disrespect intended. I was commenting on your fine observations of situations you have seen and the experience you have had in them. Nice summary. Good stuff. uptrend with good momentum - easy to earn $$$ downtrend with good momentum - easy to earn $$$ choppy uptrend - easy to lose $$$ choppy downtrend - easy to lose $$$ jerky uptrend - easy to lose $$$ jerky downtrend - easy to lose $$$ chaotic uptrend - easy to lose $$$ chaotic downtrend - easy to lose $$$ messy uptrend - easy to lose $$$ messy downtrend - easy to lose $$$ Max, when you determine that price is in an up or downtrend with good momentum How do you make the decision to buy or sell to enter?
I trade of the 5 min chart but also observe the 30 min chart. Only trade if both charts are moving to the same direction.
I cannot predict when the market will move with good momentum. So when there is a signal, I'd better enter a trade without hesitation. I play with quantity ; large quantity when there is Intermarket correlation / when I am confident in the market. small quantity when I am not that confident in the market.