Thanks PL. I've been told, though, that you can teach a child to trade and they will just do it and not suffer the psychological pain of violating their rules. Never seen it firsthand. Anyway could you give an example?
is this joking or serious..seems against everything taught. all in on one trade that's blowing myself up in a week or less. now if you mean big as in 5% of capital per day on one trade that's reasonable?
you talk about time frames continuing on to the next one. can you elaborate on this? what i understand is you are saying that let's say XXX is uptrending on hourly chart it should also be uptrending daily? This seems like a great way to look for effective trends
would you suggest starting off by observing a few markets to find patterns that repeat, and also support and resistance in the markets. then begin executing on these things? if so, what would be some great liquid and volatile markets to start looking at? im assuming the S&P although I can't exactly afford to trade the S&P so maybe some cheap stocks....
It's a combination of a joke, and truth. -- it all boils down to that Risk vs Reward spectrum. ...you can make the % return of what some people make in a year...in a day.
well the best trades seem to be when you have the daily, hourly, 15 min, and shorter all lining up. But then you need to learn how to trade a retracement cause if everything, is pointing up there's less opportunity cause everything has already moved. Time frames overlap cause you can have hourly up, daily sideways, 15 min down, 5 up and so on. After a while the way I trade can be aware of several at once, so if the larger timeframe is sideways that might be OK, but I probably wouldn't, trade if its opposite. Sideways is the usual state of most time frames most of the time, in my book. That and I can't tell. That's OK too.