Damn man, spending Sat nights researching the markets and thinking about strategies while showering? You might actually surpass my dedication (or obsessiveness, depending on your POV) if you turn down sex from your GF because you are engrossed in your charts Of course, I wasn't doing that till I was 25-28 so you really are ahead of the curve in your trading geekdom. I can only bow in your presence. Seriously though, I admire your dedication. You are obviously very passionate and serious about being a successful trader.
Thanks for the encouraging words. I need them. Good luck to both of you, or good trading I should say Yes I did contact Anek. Thanks again.
The frustration is mounting! I do 40 tests and then realize something wasn't well defined enough. So now I have to go back with the definition and do them all over again. Damnit!!!!
When I first did it I used a combination of HHs or LHs and it seemed to work very well in defining the prevailing trend, but when I looked back at the HH and HLs I had marked they weren't HHs or HLs per se, they were actually significant HHs or HLs. Meaning price had retraced 3 or 4 times but each consecutive HH was higher than the previous HH. If that makes sense. They were also HH's that you could connect together using a straight line without going through any other prices. What I had drawn, without knowing it, were supply and demand lines. I think. The problem was I drew what I drew in the context of the chart, when obviously in real time I don't know what the rest of the chart is going to looks like. So now I'm going back and looking at the lines I drew and I'm trying to find a connection between them that I could actually see in real time. Its just a hurdle I guess. about the trend lines. I was trying to identify the trend by connecting 3 or 4 HH with a straight line, without going through any other prices. Then I would use that line to make a right triangle and I would measure the trendline (hypotenuse) and come up with the points per hour that it yeilded and with that hopefully find out which trends produced the most RETs, but it didnt really work out
Jon, I think this is the most challenging task in trading. Finding connections between what will happen next when certain patterns appear, studying them at length, then finally trusting your instinct in real time when you can;t see what the rest of that chart will look like. My husband asked me today to clarify my strategy of going long on a failure to make a new low, so I showed him my ICE trade. And he covered all the bars except the one where I entered the trade and said, "How do you KNOW it's not going to keep going down?" And I'm like, "You never KNOW, but you learn to trust based on experience with that particular pattern."
Right. You never know, but you hopefully tip the odds in your favor...by a lot ideally. I didn't define what I saw well enough, but Im figuring out a way to quantify the combined slopes mathematically. Hopefully it will work. Good trading.
Hey increase, Im doing neither. Paper trading did teach me a few lessons, but over all was pretty pointless after I learned a lot of initial lessons. This is because I wasn't working my way towards a solid plan. If I'm not testing and designing a plan, whats the point of trading? Defining my method is all I'm doing now, and its quite the task.