#1.....losing money....BAD...if that occurs often, u must stop trading real money and just demo trade realtime if u r intraday. #2....Breaking even is wonderful, compared to #1....GOOD #3....Making money is wonderful, better than #2, but #2 won't break you....Only #1 will break you....Don't let anyone on these forums become your hero or you will be disappointed and will be #1........... A few thousand hours of study and a few years of pain and u might become #3...
====================== Good points especially Daryl Guppy and the material of his I have studied were set ups/patterns/retracements over 6.5 months, not 6.5 hours. However did just notice on his website; says usually answers email in 1 day.
Don't make it too complicated now. From previous threads, it seems that most people struggle already with finding a single trend. May you make lots of money with your find.
RS is relative strength and you can read about it in many places (books, websites, etc.). The important thing is to understand what it is and why it is important. Not whether it looks good in the example I provided. It could be just a fluke in my example or it could be something meaningful. The only way to know that is to understand it inside and out. Not just use it naively. 3PB method is a basic method to keep you constantly watching a level which is 3 higher highs above a certain level to determine trend. If it breaks this 3 'degrees of separation' then it is deemed to have changed trend. There is no neutrality, its either up or down. You can find out about 3PB method also in books or websites. Check out "When the market moves, will you be ready?" on page 78 onwards. Remember, it isn't about finding a 'secret'; rather it is about a journey of self-discovery to find out what kind of a trader you are and what fits you. There is no holy grail (except money management!). Cheers and good luck on your journey.
Every single trend is made up of sub-trends. To understand how trends work forces one to see that. Nothing complicated in that.