whatever floats your boat jack but me thinks you have little clue as to price action in the markets and patterns. LOL! Too many want to blame HTF's for their failures at trading. They have actually helped me! Apparently, they have you confused! ROFLO MAYBE you should try again. I have been at this for decades too. Perhaps you need to learn again!
Pinabetal - HFTs don't concern me so much because I am swing trading. It is not a matter of blame but knowing how things work - you don't seem to care about that at all as evidenced by your grasp of a megaphone pattern. You may have been at it for decades - so why haven't you a clue man? Your are very misinformed - try reading the SEC site if you think HFTs bring benefits to the markets - I doubt you ever would do any actual studying.
Whatever. You have no open mind. Your mind is made up. HTF's have little to do with intraday trading except in extreme scalping of one ticks...two ticks...or flash mini crashes by rogue algos but that is what stops are for. For general, day to day trading, on a 5 or 10 minute chart they have little, to no effect, except to make price if anything, more precise and of course more liquidity. In some cases it can reduce the effectiveness of certain edges that one may have developed and used in the past such as the soes traders did. And precision can reduce edges one uses to trade some imbalances but for the most part charts look the same today on 5 minute charts as they did pre HTF and patterns are still there and still tradeable. 70% or more of the trades on ES are computers anyway. The battle is between institutions. They care less about you and me. We simply don't have enough money for them. Hedge funds and other institutional trading are trying to take money from each other. You, nor I, have enough to even perk their interest. Goodbye. Good luck trading. LOL! No point in any further discussion. I just showed in several recent cases in the ES how these patterns can be traded. If one can't accept that or doesn't care then that is their problem. I won't sit around and argue about it. Ever wonder why 80% to 90% of TA traders lose? They simply have not learned "how" to trade the patterns nor do they understand the basic principle behind the patterns. The functionality of patterns is what is important not the perfect symmetrical pattern. You have to grasp the principles behind each pattern and trade that, not the "looks" of the pattern.
Yes, it is a triangle. Does it look like a triangle? Not exactly. But functionally it is a triangle. Compare and contrast it to a good looking symmetrical triangle and then look deeper and observe the principles hidden therein.... maybe you can figure it out??? bye
IMHO, both of you are experience traders that are very profitable with your separate systems, so both of you are correct. No need to argue, I will learn to use both systems. Cheers.
%% Thanks for the candle chart question,pina. IF those are weekly candles,OK, i would put it simple; good uptrend. If those are 5 minute candles i would not call it much of anything , but some can profit off that-- market makers profit in much smaller time frame$.Your moving averages make sense+ i consider those important.........................................................
Some basic risk management methods explained simply. The article is designed for newer traders, but experienced ones may also want to check-up on some of the concepts.