I'm glad to hear that! I find it very strange that a lot of retail traders don't really keep track of volume, which is half the price equation (after all, volume is the representation of supply-demand over a specific time period).
Right, let's say you can automate drawing the lines exactly how you would do manually. Will there be any discretion after that? For example, have you ever taken a trade where your s/r was not reached by one tick? How about it went through by 10 ticks but then came back to it? In other words, do you look at anything besides your lines?
Thanks. Due to this batch of trades being under strict rule set , my answer would be no to the discretion of execution. My rules for myself are clear. Have I ever done that prior to this. Way too many times [ QUOTE="qlai, post: 4948353, member: 494677"]Right, let's say you can automate drawing the lines exactly how you would do manually. Will there be any discretion after that? For example, have you ever taken a trade where your s/r was not reached by one tick? How about it went through by 10 ticks but then came back to it? In other words, do you look at anything besides your lines?[/QUOTE]
Correct. You don't want your process to be complex or to be implemented with too many rules/variables. Advice from a famous trader... "Simply your method as much as possible. When you're done with that, simplify again." KISS, as always.
I think part of where I am is because I went to the absolute deepest depths of TA and the answer wasn’t there. Simple is where I’m restarting . I stripped it all down.
Please dozu, don't teach everyone the secret of holding the index to the moon. More people trying to trade is better for people who believe in buy and hold. Allows us to buy at a discount and sell at a premium when there is mass hysteria
I have never seen a "T/A" book or article that explains the T/A freely used, every single day, by every single *successful* hedge/algo/"alternative financial vehicle" you care to name. It's as if the T/A toolset were all those oversized plastic screwdrivers and wrenches that are given to toddlers to work a plastic nut&bolt or round-headed screw -- while the assignment in front of you is to tune a factory-fresh McLaren P1 to compete at La Mans -- and then everyone throws their collective hands up in frustration, and declares the whole enterprise false and bogus and fraudulent. (In the meantime, the guys in the next garage are bent over the hood of their racey little beast, tuning it to fly, with those same, simple, tools....) Please understand, xburbx -- if you've dumped the standard thoughts about "T/A" and started from an empty board, that is a good thing. A *very* good thing.
Yup. I think at this point my TA knowledge is totally sufficient to achieve the task at hand. It's likely way more than needed. I just should have stopped digging deeper into TA years ago and focused on my brain. No regrets. This is my journey either way.