Hi Guys. Thanks for your postings....I'm right at that point now where I'm beginning to be able to look at the 1 minute TF and not get dizzy after 15 minutes. Last week,I tried the 1 minute and got lost after a short while. Now, it is beginning to look 'comfortable to view'.... and I'm beginning to time my trades with it. and funny, your last post CF and Yoohoo about the 'brain damage' of having to learn it..... I'm just starting to have that peculiar feeling in my head. I guess one way of describing it ....is that I am see-sawing between long moments of intense clarity ,right in the powerful 'Zone' of being tuned in (thats when I make great trades) ....and then my brain loses it as I watch unfamiliar things happen on the screen,(mostly indications that I havent learned to see yet) ....but my mental connection falters, and I begin to lose my sense of tuned in timing..... and between these two extremes,I'm spending 8 to 10 hours a day,doing well and poorly, and breaking even at best ,so far.... But the thing that is killing me these days...(last several weeks) is that the 'creative' trendline charts I draw....are somehow proving right on target....BUT...I havent had the trust to act on them....being so inexperienced as a trader..... ....and lastly, being here in california.....I'm trading either at midnite (london session) or else I'd have to get up at 5 am and trade new york. ....lately, Ive been trading the Asian session (late afternoon /evening in california)....and that is often slow ,with not much happening that my mind can see to jump on. the other day was a perfect example....... I stayed up all night from Asian late thru London session and got too tired as new york opened.....I went to bed knowing that Euro was going down....at least a little ...lol)..... 1 hour after I went to bed .... the great falling knife 200 pips happened and I missed it. after waiting 10 hours to prepare for it. Imagine what that screen looks like when you wake up the next day and see the Giant red line you missed..........I would say LOL....but I'm not laughing anymore. I'm starting to feel tired.... as I stand right outside the ATM vault...with the code book in my hands....one half desciphered........ And now, another 'day in the gold mine'....finds me with shovel in hand... both extremely confident, and uncomfortably concerned about losing more money, before I crack the code. Just a curious note for anyone interested ...the next new moon is coming very soon.... I can give you the exact time if you want...I'd have to look it up. I found that the Feb 7 new moon Eclipse was an important trendline point....and the last new moon (may 5 ) was also important to the current picture. So ,I'm looking for the next new moon day to ...'fit in' somehow and portend the ...'energy tone' of the coming weeks...have some sort of influence somehow. Thanks for that info about Trendlines,Yoohoo. its the same ideas Ive been working with....my oanda platform only goes back one year on the daily. doesnt have a 'weekly' my 1 minute screen might go back a week or two...havent done that yet ...thats my next task. I'm starting to train my eye to look at OHLC bars...so I can draw lines thru the close/open spots.
Good morning gentlemen! Some nice action on 1min during this morning (while I was sleeping like a child, cause there is a slight raining and nightingales singing behind the window)...
Tom, How familiar with all what you've described! I also traded US markets and know how it is to trade late at night... And it's even worse for you, more like an early morning when EU session begins in FX... As for 1min... It seems that every day spent on 1min is like a week spent on 5min... Woke up today, switched on computer and loaded charts and voila! It's no more looking noisy for some reason, LOL... Just the opposite - quite clear and setups I missed are here and so obvious I'd not miss them if was sitting at the screen... So yes, it's extremely hard at the beginning, but over time, if you devote some efforts to watching 1min it opens itself to you... BTW, interesting how Moon influences markets really... It does influence everything on Earth, so bet markets (aka human psychology) are also involved...
We have broken out of a flag on big timeframes and now are in two down channels (big one daily and smaller one hourly)... My view of gameplan is possible retracement up to re-test the flag and then continuation down...
1 B/E so far, Enter early in a downward channel, after the first peak had develop, was too good a entry, making my B/E stop too low and the 2nd peak took it. Didn't entry rigth after that (after the 2nd peak developed), and there are further two busts down after that, all sticking to the channel T/L After the 3rd peak of that channel (3rd and 4th Bottoms), came divengence with CCI, MACD, STC; and the market turns into a weak upward channel, featuring 2 major bust up. The points I want to make on this post is.. #1, You can pretty much see uniform behaviour with indicators at the start or the end of a channel, such as divengence, then a hook on the indicator that fellow the direction of your trade (making a higher low on the indicator, for a buy signal or short exit) #2, With a sense of direction, different indicators have it use, e.g. CCI(14) signals well on a weaker channel (major retracement move), while, it's too sensitive for a channel for the main trend, that you can try MACD and STC #3, Waiting for the peak to develop is bad, might cost your 33% of a move, LOL.. Guess that's why YH use tic chart I couldn't make sense out of a tic chart (yet), but will actually try to look at it at candle at "30sec or 45sec" and refer to the bid and ask quene for entry before the end of da 1min bar, wish me luck on this
this is really invualable stuff both you and Yoohoo have been teaching us having a great month here, monday 15%, tuesday 10% and yesterday 11%, having a great start of the day once again, went long at 936 in Hang Seng will start looking more at the 1 min too from next week on, because I can't seem to fit those pieces together ... yet ...