porgie: A long time ago I kind of thought like you. After making myself believe of having gathered some modest load of market wisdom, I now came to realize how invaluable these forums truly are, even if only fake pearls ever show up. Their main purpose is merrily to herd along the gullible masses badly needed by the nimble to pay for their profits. PS: If you are looking for genuine pearls, no owner would be stupid enough to drop those on the street. You'll have to dig those up for yourself paying in sweat and tears. nononsense
Work on creating an environment where Price's intentions can be read consistently. My environment consists of incremental sets of Volume Bar Charts (Intraday, Swing or Position). Each individual chart consists of one and only one indicator. It is an Ergodic Indicator (Energy or Momentum) adjusted to show the ultimate smoothness and extremes of each oscillation upward and downward movement. The extreme moves are used to verify the Prime moves both for Trend and Entries/Exits. Prime is used to verify Trend Oscillations and the best entry/exit oscillations. Minor moves are just either noise or slightly more aggressive oscillations of Price. Strength is easily determined from those oscillations as well. Each set containing 2 chart increments, one for Trend (Larger chart increment) and one for entries/exits. Each entry/exit chart is an exact & consistent subset of the Trend chart. Once this environment is set up sit back and watch how Price moves within this visual box. The more you watch it, the more you will see that Price moves methodically. Your suspicions become reasonable expectations that Price will continue in its current direction until it systematically reverses. Those reverses you will see as well. Patience and focus now becomes your best friend because time will teach you to trust what you are seeing Price create for you . . . a path. I posted a chart earlier in the thread which is my intraday Trend chart. That should give you an example to begin at. Good luck on your journey and do not let those that wish to distract you from your path of common sense keep you from your goal. To nononsense: Most individuals walk over riches as they travel down life's path simple because they fail to open up their minds when they open up their eyes. To porgie: Mom taught me it is good to share.
Not really. Make a print of the thread. Use two markers, one solid strong black and another yellow. Do two readings using the black. Sleep on it. Hold the yellow in your hand during the third reading. Do not use it as yet.
nononsense, I hope you are doing great.........i hope the honest folk ar e doing great..........the few dishonest ones here ruin it for the good ones........good ones being the honest and those who truly are here to learn and interract for the right reasons.......to them i say, simply study all you can..........realtime if possible.......don't trade real money until you are honest with yourself about your progress........you won't fool anyone but yourself.......that is bad feeling........trade only one contract to begin with and anyone who tells you differently is not on your side.........exit with a point target.......8 points is good........if u can't make it on 1 contract u can't do anything but lose faster with multiple contracts......stay with ym for cheap practice ..........real money once u are ready to begin........throwing huge money won't make u a better trader.....u have so much emotional capital to spend........but be very careful how you spend it............. emotional bankruptcy is painful........i know........
========== The charts are much more helpful than the words; a pisture is worth a 2000 words.Patterns may repeat %%%%%%%%%%%%%%%%%%%%%
And mr cheese wonder what you do with YM ,said no scalp, dont like trends; even a daytrader uses many ''mini ''trends to scalp , even if they dont name them trends. %%%%%%%%%%%%%%%%%%%%%%%%%%%%
May have more to do with investing, as opposed to trading. Trading means war, non of this pussy stuff. Think war, think trading.
Well, hell, nothing wrong with war terminology. I sometimes use it myself. But the market is not war. Nor is it out to get you. It is neutral. It is more like gently milking the titty of a big moo cow. But it don't fill your bucket with milk .. it fills it with money.
Hi Does anyone use rolling bars in their charts? I'm not sure if this is a real term or not. The idea goes like this: Why wait 5 minutes to see the next bar (candle) on a chart? Have the chart update 5 minute bars (candles) every minute. The first bar of the day would vary in time from a 1 minute bar through to a 5 minute bar throughout the day. So what you get is a 5 minute bar chart that is totally valid at each minute. (I've never had the opportunity to try this. If one generally uses 5 minute bars for example, one might have to use 7 (8?) minute rolling bars to get the same effect, so to speak...I just don't know. So does anyone use these bars? What is the correct term here? More comments welcome. (Checking out Ninja Trader software and their on-line videos this weekend. Here throughout the weekend if anyone wants to know.) Regards, Stephen Szpak