A riddle:eek: What the fuk AR+BE=Time=Money How many times do I have to say it. DT is the only one who seems to have taken the AR seriously, and actually set up his own little automated scans If you want to make money trading, then, you must get off your lazy fat arse and do some work, for, no one said that it is easy, for, anything worthwhile is not easy, but, it gets easier over time with experience. A wise man learns from the mistakes of others. One does not have to know about the others mistakes, but, what they have done to avoid repeating the mistakes is what must be known, so, when you read something you must think beyond the written words, for, everything happens for a reason. TE
I think EMA is a necessary tool. just like a doctor, even he is a good physician in tumor through patient's sympotm, he still needs X-ray/CT, blood sample etc. to verify his judgment. the issue is when to look at it or use it. when you drive your car on a muliti lane freeway, still needs painting stripe to guide your driving in proper position. if the freeway is very wide and has no painting stripe to separate the lanes, for example five lanes, and let you drive in the third lane, can you do it? without the painting stripe, it is hard! EMA does the same thing. but too many things on your screen will make you lose focus, so it is minus.
One can use what ever they like, for, the end result is all that matters. However, there is ALWAYS a better way to do something, and, it is that better way that one should strive towards, and, not the mediocre ways that most choose, for, it is the striving that creates the genius, not the acceptance of what is already available. EMA and all the other RTA, well, are just mediocre ways of trying to justify why something happened, when, the reality is such, that, it really does not matter, for, what will be will be, and, what happens, happens for a reason, but, you do not have to know the reason, for all you need to know is that it happens, each and every day, over and over TE
in the real world, there is no better way to do things. all depends on when/how to use your methods. the same method, total different results. the most medicore ways may be the best way if you use it properly under right conditions. go back to read Bible Ec. chapter, you will find why I said so.
I bought at the first green arrow because price pulled back to a level I had drawn, and was trading above the open, and was a pullback after a high on the big picture chart I use. Target was 1840 or 19 points. Risk was 4 points. I bought again at the 2nd green arrow as price pulled back to one of the levels I had drawn and formed a couple NRB's which lead to WRB's. Target was 1842 or 17 points. Stop was 4.5 points. I then moved my stop up and added a contract at the 3rd arrow and increased the target to 1845 for both contracts as an NRB formed an another level I had drawn and the trend was up. I made a boatload of money. All 3 trades were winners. Is there anything wrong with that? Uploaded with ImageShack.us
Why do you say confusing stuff like "the only plan required is............................"? I'm pretty sure you stated numerous times you need to follow a process, and I don't think you were referring to the process you posted above, not that I have anything against that particular process. You just say contradictory things and it's rather confusing. I've asked before if I should just use my brain & eyes and buy when my logic tells me it's a good time to buy, and you say no I need to follow a process. I ask a specific question about creating a process, and you say I don't need a process. You've said before if you're making consistent money and your bank account is growing then you know you're doing the right thing. Then someone posts how they trade and make consistent money and you tell them they're doing it wrong.
You've said you trade stocks with an ADR of 50 cents or greater. If time=money then isn't the guy that only trades stocks with an ADR of $1 or greater taking greater advantage of the time=money equation? Aren't you wasting time by trading stocks with an ADR less than $1? There's plenty of them out there.
TE, Just finished "MAN THE UNKNOWN" I loved it. Wasn't sure what section was the most important but still a good read. I need some more material. Whats next?
Without nothing on screen besides the price bars, those were all solid long signals. One of my trading roomies went long ES about where your 3rd arrow is, had his best trade of the day. BTW, I took everything off my chart except price bars. I can definitely see the advantage of this.