Here is the first chart of the day with explanations. I did 3 covering today and the last one showing the longer term chart. You will see when I post it why I like the longer term trading.
#4 On this chart you can see why the market has been in such a twit for a little while . . . it is consolidating (ppf followed by a ppf designates immediate consolidation) Look at the way these trades play out. Smoother and less strss involved. Every oscillation is a decision point in the trading process. Your choice is whether you want to make 15 to 20 decisions a day or one.
Thanks for the charts, very good stuff I would recommend to anyone interested in productive discussion to adopt my ignore list. See below, might save some of you guys headache.. It sure cleans up this thread
Hopefully this will be considered on topic (amen for the recent changes). A bit of Sat. morning inspiration for anyone who is still struggling to get over the hump w/ their trading. http://www.maniacworld.com/are-you-going-to-finish-strong.html
Interestingly I posted my experience a while back and the trolls disregarded it....apparently it was not what they wanted to hear. So once again. I asked Proflogic if I could use the indicator (Erg) and he provided it to me no strings attached. I read the rules and put them into practice. I read price action and I use my own experience as well. I notice that using the Erg I get more winning trades. My results have been good. I made money last week (how much is nobody's business but mine). I intend to continue. I haven't talked to the Prof since.....thanks by the way to Proflogic. Those that don't agree with Proflogic have stated their case...its on record for all to read...those of us who are still here should be allowed to continue without the repetitive disruptive posts....apparently we are willing to take our chances. I'd like to see Proflogic continue with his comments, and I would like the moderators to remove the trolls. thanks
stevesbg, I agree. I also stated the method was working for me and it was ignored, but as soon as someone says they've struggled with it the trolls take that as evidence the method stinks. You can't win. I joined this thread to converse with other Logic traders, not to have to prove to outsiders that it works. Isn't there a place where like-minded traders can freely discuss the nuances of their methodology? As for the ones struggling with it, I don't know how much effort they have put into it, but if they have tried and are unable to make money with it it doesn't mean there is no hope. Sometimes being shown a few things can turn things around for somebody. Unfortunately the discussion always gets thrown off track. Let's say Prof didn't even participate in this thread, are we to believe that we would be left alone? So this didn't turn to garbage because a few individuals were calling out the vendor - some people are just very negative. I don't know Mandelbrot, but I expect his 5000 posts on ET are of a similar tone to what we've seen here.