I live in Oregon............only 6:30 here. The most important thing is to be right at the right time. Don't want to sit in something that's not moving, and don't want to be in something moving in the wrong direction. Also be prepared for any opportunity which may present itself.
But, you will never know if you will be right So, we now have another thing to deal with Ok MK, you are right, but the word is TIMING TIMING is everything in trading, and that is why Patience is soooooooooooooooooo important If you can perfect TIMING, you can throw away all of your stupid TA squiggly lines and concentrate on making some GOOD money. T.I.M.I.N.G Oh oh, I feel some pdf's with passwords coming on TE
So how do I perfect timing, because I can guarantee you I have not perfected it? (not for a lack of trying) How am I supposed to figure out the password if I have a shrunken brain. As of today it has not grown back. Make it only medium-hard for the less-fortunate.
What makes you think there are good odds that the market may turn up? What do you look at to come to that conclusion? I see the weekly trend is up. The hourly chart just had a couple narrow ranges and ended the day expanding upwards. The daily chart closed a gap. Any of that stuff important?
It should really be.. a bar is a bar is a bar I used to trade nothing only 30 min bars in the past, and, depending on the instrument, it can work very well. Some have developed techniques with 30 min bars for the S&P (ES), and, they call it One Time Framing. It is a very simple and effective technique is used wit MP and the Value Area. Most people pay $3K for this info, but, I will give it to you for nothing if you trade ES, and, if you ask me nicely enough Second, 10 min engulfment's are another one used by those on the floor, mostly for arb trading with the main S&P and the ES, but, me thinks that type of trading is nearly kaput, but as I am not on the floor I do not know for sure? ES can be very profitable, but you need to be have plenty of money to load up when required, of course, the downside is you can lose big if you get caught with multiple contracts at the wrong time. US Stocks, I think, are far less risky, and with a little bit of automated screening can present as many opps as you like for trading each day Experience is required before any task can be mastered, so, it is very important to cut out all the bull and concentrate on where the money can be extracted in the shortest time possible, and, that is, well, for now, up to each reader to decide TE
If you look at Gold and Currencies and Indices, then, it looks like something is not right When it looks like something is not right, there is a good chance that something might happen that would not otherwise happen. Will it transpire, well, nobody will ever know that, but, if you are prepared it is more than half the battle, and, the rest should be automatic, and I do not mean automated trading:eek: TE
Reverse Brain Technology? I'll reverse anything if I can figure out to make money trading. What a stupid thing to be obsessed with, but so be it. That's what I want to do. I still have this nagging thought stuck in my head that my brain & charts don't get along. If I had some complex system worked out on an excel spreadsheet with clear signals and clear stops I think I'd be fine. When I look at a chart for some reason my mind gets all cloudy & confused. I overthink things. It's hard to explain. My only losing trading method that I've ever felt comfortable with was my first one ever years ago. I tracked "Darvas" type stocks on paper and made the boxes on each one with the volume and bought breakouts with the stops below the boxes. It was so rule-oriented and so defined and based on pure numbers. I loved it. I lost money. But something similar to that is what I wish I had. My brain malfunctions when I look at a chart. Very strange.
Hmmm, you really let all of those A's go to your head Maybe the RBT thread might help? Must go, Spongebob is calling me TE