Yes, I found my method of common sense. no fibs gann macd's crossovers etc. It's this: when I see a wave topping or bottoming, I sell respectively buy it. Very tight stoploss. timeframe is as short as possible, while not losing due to commissions. I hope now I found a method which should suit me, I can now start making money, as I already have great psychology and money management, capital and all the best tools one can think of. The only thing I need to do now, is to fine tune my setups; -should i buy before the topping/bottoming action is completed or after? -should i go in at market or let the market come to me? -when to take profits? I trade the ESX on Eurex. Anyone have some answers/experiences? rgds
Of course I'll take into account s/r's and the trend on larger timeframes. Big other issue though; what do i do while waiting for a wave to top/bottom? I am getting real nervous with nothing to do..
Please upload and post a chart of what your talking about. Your explaination so far is vague. A picture has a thousand words Simply, post a screenshot of exactly of what your seeing on your computer monitor (charting program). You can use the free program called Xnview at http://www.xnview.com or SnagIt (free trial) at http://www.techsmith.com NihabaAshi
Believe me, there's really nothing to show on a chart. Just prices are ticking up, tick tick, momentum slows, volume dies. time to look for a reversal! s/r's just previous day high/low and that kind of stuff. Trading with different timeframes: just go long on the 1 minute chart when it looks like bottoming, when on the 5 minute chart the momentum is still in the middle of ticking up. I have been trying it today and not making money at it. probably because i am trading during lunch. win/loss ratio is horrible. like 15 losers times 1 tick. and 2 winners times 3 ticks.
just went short the esx at2582, because 5 minute pointing downwards, and 1 minute just had a wave up, which is hopefully topping. looking to hold for 2575, otherwise go out with 1 tick loss
and out with 1 point loss, the wave just extended! :-( I am losing like this every f*cking time i try it
Do you use candlesticks? Do you use oscillators? Inquiring minds want to know. Please put up a snapshot
I had saw a question in your first post that said...Anyone have some answers/experiences? Once again...I thought you are being vague about this so called wave. You mention no specific time frame, you mention s/r levels without saying or describing where they are at and then you mention top/bottom... a visual chart that takes less than a minute to upload would and should get you answers to your original question... Reason why I asked for a chart of what your seeing on your computer screen. unless that question was just your way of thinking out loud and you actually didn't want any answers. Sorry to bother you. NihabaAshi
I'll post a chart when i figured out how to, sorry to offend you buddy. my trade next to the previous one was from 2584 and got out at 2576, so that was a winner! not nearly positive for the day yet though.
I'm not offended. I'm just very curious. Note: Everytime you type a message...just look down at the bottom and click that Browse button and then go to where your going to store that .gif or .jpg or .png file of your computer monitor. Don't try an upload a .bmp file (it won't work). Easy instruction...no manual needed Also, now your posting trades. Is this a trade log? If so...are you going to post this in the Trade Journal forum? Now that you got a winner...I guess you aren't going to ask anymore questions NihabaAshi