there's always an announcement. If you are really into it and have Direct TV, at 5pm eastern, switch to cnbw, and listen to "Asia Squawkbox" somebody is always announcing something, especially in regards to eur use to really freak me out when I would see those big candles after a while, you can read who those big candles represent the one to watch out for is the banks, if they need to buy, they will sell everything they have and then start buying
hindsight is a bitch.. its so freaking clear what i did wrong in the large perspective of the trade.. counter trend trading a really long term trend.. one thing i have learned from options is the value of position size.. how much of the complete loss i've mitigated with option sales and the intermittent scalpes and adds and subtracts to the position.. i see clearly what i'm doing its just hard not to do it! haha as clear as it seems when you read all this shit.. you sit in the driver seat and do the exact things they they teach you not to do.. amazing to me... and everyone will sit on the sidelines and be like..look at that guy he doesn't know what he is doing.. no shit haha
yeah, it's just therapy, somtimes you don't know what you are doing until you talk about it. that's why I say, you have these crazy dreams, and it seems like just one situatation after the other but when you try to tell it to someone, it makes sense before the words are even out of your mouth the problem with posting on et is first, don't get too close and secondly, don't feel obligated to sticking by what you have previously posted gotta go, something just got hit
Sounds like you two are on to something. The way I look it at, the market is fractal in nature. Each nested fractal exhibits a "faster" cycle rate then the next. All fractals trend, up or down. The lower the time frame (second charts), the faster the cycle or trend speed. The higher the time frame (minute to hourly charts), the slower the cycle or trend speed. The problem with fast cycle rates, is dominant thrusts in each trend aren't large enough to overcome slippage + spread + acceptable profit. Iow, I trade only off 1 minute and 5 minute charts. Maybe a 30 second in a very fast market. Anything less under these conditions, you will get chopped up. Another way to consider all this, using another prism, is volatility. Ideal time frames are really an expression of market volatility. Fast markets = high volatility = suited for faster time frame. Slow markets = low volatility = suited for slower time frame. As volatility picks up, it becomes more profitable to trade off the 10 - 30 second chart. But not now. It can be confusing as volatility (ideal time frame) can change throughout the day. For example, the first hour open in ES YM futures (9:30 - 10:30 am) then last 45 minutes (3:30 to 4:15) , volatility is traditionally high. A faster time frame is more appropriate (15-30 second). But then, volatility slows down considerably, and if a trader stays on the 15 sec or 30 sec chart, they get chopped. At that point, under lower volatility, switch to a 1 or 5 min chart etc. This is how I trade. I would finally add, that under todays range-bound market, a 1 hour chart timeframe misses a good portion of the intra-session movement. We're not getting the huge 1000 pip swings in forex, 100 point ES moves, like we did in the past. Dailys and hourlies catch those. We're getting alot of mean reversion, range-bound activity punctuated by the odd long-term breakout. That means traders have to drop down to lower time frames to catch more moves. jmo
yes, after I had my last nervous breakdown, I spent some time writing fractal computer music. I don't really understand it, but I had a guy over in England that programmed it all for me. It can make you sound a lot smarter than you actually are.
haha works for me. I try not to over complicate the market. Ime, that is one of the many dead ends in trading. But as you say, makes one feel smarter than they are
there's a lot of those dead ends in trading isn't there? like the Lady said, "You know you got it, if it makes you feel good."
Very true. Too many to count. I think it's more a process of elimination, than anything else. Especially if one has a wandering eye. As far as money being the root of all evil, I never understood that one. Maybe Christ meant greed? Lust?
lot of contradictions in that Book I know I couldn't make it as a trader if I didn't add to losers (the horrible sin of averaging down) but you can't add to losers without adding to winners and adding to winners is very counter intuitive who wants to buy something that has already gone up? but that is what is keeping me alive I aint saying it's the be all end all but after you do it a while you begin to realize time is just as important than price and you can use time to adjust price and you can use price to adjust time