Tips on the Mental Game

Here is a comparison why I believe Friday turned into a 'Trend' day and today was a 'Normal' day (in Market Profile terminology)


*please ignore if you find this irrelevant to our discussion, just trying to talk a little shop in case I'm way off base :eek:

 

To expand on that, I mean would it be better to totally reset at 11:00am (2nd 4hr bar)? ...to focus on and catch bigger moves

 

lucky for me, im a dumbass too. and it takes countless blows to my head with a blunt object to get anything through.

i started thinking more about the TF's, and candle relationships....and when i did, i started asking myself all the same questions you posed (where they are in relation to either other, etc)

needless to say i wasn't suprised by the 1:15pm (central) buying campaign today, i was expecting the sellers to push the market through our low before this (and got caught short but QUICKLY reversed)

...at the point where im trying to figure out how to track these relationships the easiest way i can (%, points, etc) so the calculations dont slow me down real time - hopefully illl get to the point where i can - and see the incongruence numerically

 

BD

This chart is golden imo.., Hope it is in yours as well


RN

 

BD

Going to answer this in two posts… which equate to separate but connected thoughts

At the beginning – a trader starts out behind the mkt – essentially analyzing too late, anticipating too late… reacting too late

As we evolve – we have a tendency to get ahead of the mkt – following the line of thinking this question poses will do that

As we mature – we find staying in tune with price is the correct approach

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Been many days I had the path of price all line out… been just about as many days I sat in a loser thinking price had t do what I thought

It didn’t


Never pays to get too far ahead of price….instead we want to map out the possibilities – and be ready to respond if/when they occur – essentially jump up price’s butt and follow it wherever it goes


Remember, this is but one thought about this question


RN

 

Here the second, discrete, but connected thought

Yes absolutely

Every instrument has a personality

Don’t know about yours, but mine typically ranges in the mid day


Yes I reset my trading context…anticipating price will end up breaking one way or the other after a head fake or two….but I don’t necessarily reset my over all context (ala the chart you posted that I like) – unless it is necessary


Trading context is what provides us low risk… and keeps us in tune / step with price


Ultimately – what is price/ and the way you’re trading it – tell you to do

RN

 

I don't know enough about MP to respond...

There is however a member who goes by Ammo

He is the one who can share/ speak MP.... And he's very helpful too


RN

 

Me too BD..., me too

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I recall you said you like math.... unfortunately I'm not sure the mkt can be approached from a strictly math aspect though

Especially when human emotion is involved - as it always is


I do know reading price is an invaluable skill Sir

just something to ponder


RN

 

RN,

When you say small TF's build longer TF's, it is my understanding that the longer TF's must then reference earlier snapshots? This makes sense as the biggest elephants of all are at the open of the day. Or to put it another way all TF's are working together to start the day.

Using this logic, in the SPY 5 min vs 30 min there was a definite divergence in the 3rd 'frame' today BUT utilizing the hourly and 10 minute it would have been perfectly acceptable to buy as price went higher.

I may actually be able to create and follow setups now - using short-term PA and larger TF candlesticks (OHLC)...and know why the rules have to be in place

 

Yes Sir… absolutely…

Set ups and rules become easier to create/ follow once we understand why they must be… and how things all relate

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One other thought I had on the remark I made about interacting with price on a purely mathematical level

There are times to analyze… and there are times to simply be a trader.., and do what we do.. TRADE


Learning to read a chart is a necessary skill – and many know how – lot o good technical analyst/ annalists out there

Learning to be a trader..., and simply trading – now that one not so many get

(everything trading related fails – at some point... Or does it, really )

Possibly something to think through Sir – to give you a pathway

Happy Weekend BD


RN