ProfLogic's Method

LOL - these days, that wouldn't surprise me. But yes, once I gain more confidence using the method, then the focus will be turned to this danged 'hair trigger' finger that I've developed over the years as an offshoot of self-preservation Cheers ...

 

I hate to be the bearer of bad news but, your entry was also incorrect. The 343 oscillated in prime BEFORE the 2401 oscillated to black. This should happen after (see today's lessons)

 

Whisky is correct but good call and trade.

 

Thanks, Wils0n - very good point! And that's why I'm here :>)

I will say, it's not very often one can get all the little duckies to line up in a row. Can I borrow your 'Patience' label that I saw on your charts?

And, of course, thank you, Prof!

 

After (a little/a lot of ?) study of this method, and screen time, I strongly believe that the (objective/subjective?) ability to discern when to:

a-Take an "early entry" trade.

or

b-Pass on the "early entry" trade. (Wait for Histo to oscillate, and take that one).

is about one of the most important skills to develop, second only to proper exiting (both of winners and losers), perhaps.

Just my opinion.

JW

 

I agree, JW. Especially if one is trading the 343/2401 charts, which in my mind are scalping charts.

I can definitely see the need to patiently wait for the perfect setups when moving out into the larger fractals, to which I assume we all aspire.

 

Whisky, for those of us just starting out . . . what are some of the lessons we should focus on in trying to differentiate between your (a) and (b) above?

The only thing I can think of is divergent/convergent histo/ERG on the entry chart? But since I'm a real novice (yet) . . . I'd like to know what what your opinions are . . .

 

I don't have a solid answer, I'm afraid.

One thing that I feel it happens is that right AFTER you enter the trade, good trades go your way inmediately (see Mephisto's trade), and losing trades give inmediate hesitation/problems.

So really, it's a matter of exits, at this point, in my opinion. If you are going to trade a- style in the 343, be sure you can exit fast when/if conditions change.

JW

 

Prof, the 343 oscillation in prime occurred before the 2401 oscillated so isn't this an incorrect entry and therefore more risky?

 

Good trade for a Near Perfect set-up not a Perfect set up.
Mine oscillated first but still not in Prime. You also had Divergence on the 343.

I repeat.

If you wait on the slower charts to trade from, you won't be stretching your points of entry but making less trades.