Brutus, take a break by all means, but keep your head up. Maybe posting today's trades will help, but that's up to you. Take your time, brush yourself off, regroup and get back at it.
sorry to hear it Brutus.. trading is sort of like hockey in that none of the better players have any teeth .. you have to take some hits in this business to learn to respect the market.. take some time.. regroup.. papertrade.. and give it another shot.. good luck.. -qwik
Qwik I must say you are truly becoming the master of the analogy... Your skills far exceed even those of our esteemed Dark Hope all is going well with your trading my friend Publias
i did not get that point with the "noise". if you look on a 1min chart, you can find trend + chop, consolidation + continuation pattern, breakouts + trend reversals. its all there as on any other timeframe and there is as much "noise" as on any other timeframe IMO. and it is as hard to trade on 1min as on any other timeframe (why should it be "easierer" to trade on higher timeframes ?). everything just works out a little bit faster and thats what i like. i dont like to put on a position and then wait for hours to work out or prove im wrong... if i would give you 4 simple price charts with no information of the timeframe, it would be hard for you to tell me each timeframe. that is what i call "fractal", nothing more. just my opinion. trading
I think this is an interesting issue. I do some trading off the one minute and I agree that you can see fractals of the larger time frames. The question though is just what are you seeing? I would argue that it is basically random data points. A random number generator will produce a chart with all kinds of classic patterns, but the patterns clearly have no predictive value. The signal to noise ratio on a one minute chart has to be inferior to a 60 or daily, for example. It takes sustained buying or selling to move the daily , while the one minute could be affected by one large order. I define a few orders as noise, in that they have no lasting effect, while two or three hours of movement in one direction will likely have an effect. Also, I believe that the sheer speed of the one minute makes it dubious for newbies.
I would have to agree...It might appear fractal, but in real time it can be lethal, not fractal...It goes thru phases like everything else...I have seen three minute charts, one minute charts, etc just break clean pivots and trade thru to S/R...Reverse beautifully off of nice logical pivot areas... Then I have seen the exact opposite, like a day like today where the buy/sell programs hit and the chaos extends well beyond a one minute and even out to 15, 30 min charts... My hat is off to guys who can consistently clean up with a 1 minute chart...I think it all comes down to discipline ultimately...You have to have 10x the amount of discipline with a 1 minute chart because you have over 405 minutes of data each day and within that 405 minutes of data you are going to see alot of things on that chart that look tempting...If you go out to the 45 minute, you only have 9 bars per day and within those 9 bars you have more clarity regarding the previous day, previous week, etc...