Db, you are a handyman. It's a lot of work though. Niko would grout for you for free for a chance to sit at your feet. Gringo
A lot of work, but you can't find anybody to do it anymore. At least not do it right. But it's fun if you take your time. Sort of like trading. Don't understand why somebody would want to trade with formulas. What fun is that? Plus you have to keep reconfiguring everything. Like doing the kitchen over every three months. Who needs that? I sometimes think people don't want to look at price because they're afraid of it.
I would gladly help, but I can´t even hammer a nail properly, Db´s floor would suck big time after my first attempt. Even with the secrets of the trade video .
I am planning to start training my 11 year old from Dec. I have a feeling it's going to be exciting. 1) First step: SL/DL lines identification. 2) SL/DL + Ret If the first two steps are achieved even in a few months, I'd think Db a success! Gringo Edit: Considering this is a "Son ..." thread it's quite fitting.
I have already started with my 5 year old daughter, she just yells, the market is going up!!!. She doesn´t even need the lines as her father does . Maybe I can let her trade the afternoon session while I make some other stuff next year.
Here are today´s entries: As usual squares for shorts, circles for longs. The yellow ones are the ones not taken. The exits are still a work in progress, in RT i am using a combination of breaks of LSH/L and 50% levels, the line is currently not being drawn in RT, but painted afterwards for illustration purposes. Parabolic moves are something I have started to consider as a special case (as can be seen there are no lines on them) as Db pointed out today. As for the initial trade that got taken out too soon, I can think on two possible solutions to implement: 1. Hold on to the trade and focus on behavior (easier said than done for me ) 2. If taken out but price shows no intention of FT just re-enter.
Db, from today´s discussion there was this issue about volume that got me very interested. At the time my reading was that price was falling, but volume was decreasing (strength sign). The fact that after my entry buyers pushed prices from 90.50 on increasing volume did not help to reinforce confidence in the short. Then bars were showing LHs, but volume was not increasing, it was only until 10:35 that I started seeing confirmation from volume. I know I am missing lots of stuff, so I wanted to see your perspective.
Everyday one learns something new... Thanks guys... Will be back soon after a short trip to Madeira...
I actually got to put in a little time this morning; haven't been able to for a couple weeks. Exits are scaled on my chart, so there's just two trades, a short and a long. I saw earlier that niko had the same trouble with not being able to hang on to the first short at the breach of the 50%. Does anyone have an idea of some of the contextual clues the two of us missed of the sellers still being dominant? Usually if price is creeping up to the 50% mark slowly and passes it a little, I am not so quick to attribute it to buyer strength. However, this RET jumped up about 5 points in two minutes. After the 50% and the LSH breach, I wasn't seeing any reasons to keep hanging on, especially since price was moving rather quickly. Any thoughts? -- I don't feel as bad about the partial exit on the second long. I could've held the whole position until the LSL (which coincidentally was right around the 50% mark of the entire opening movement now that I look at it) since it wasn't even that far away, but I suppose I was feeling hesitant since it looked like a break of 90 was being rejected at the time, and I had price in a 70-90 TR for the past two days in my notes. However, the trade was still a really nice one even after breaking off a piece right before the climax. It's also a little easier to analyze in hindsight. We were above the 50% of the movement, still had room to go for a OH retest, and the RET that broke the first line was pretty slow and weak. Definitely going to look at giving conditions like these a little more room in the future. Not as certain about understanding the correct information to process about the first trade though.