Can you post an example? I seem to remember attempting something like this a while ago and it wasn't helpful.
When you see a thread in which nodoji and dxphoenix both apprise they trade this way,run for the hills.You won't find bigger misconception than when these two agreed to something.
It is difficult to post market dynamics in a static post. Dynamics for me are watching price as it unfolds before and after I take a position, all within a context established by past recent price action. How do I illustrate that? I am not sure. I am an intraday trader that focuses on general context and every SINGLE bar dynamics as they are unfolding to make adjustments on the fly in terms of SL or PT. For instance, two bars in the ES that have a 2 or 3 point range. One forms slowly and closes in its lower half. The other makes it range rapidly with lots of back and forth price movement and closes on it’s high. As each one is forming the price dynamics are grinding in the first. The second one is formed with urgency and lots of price movement. I assess these two different dynamics with the context in which they are taking place and am constantly deciding if i should adjust my initial PT and increase it or decrease it and grab what the market gives me at the moment. If it isn’t clear to me i will generally opt to grab what the market gives (a bird in the hand is worth two in the bush) and if after my exit it appears I should have waited before exiting I will simply enter again. By grabbing my profits I avoid giving back a paper profit should the market prove my initial PT is not going to be reached. To me commissions are a small price to pay to grab a profit. Besides one is supporting the brokerage industry. They gotta make a living too...ROFL In a grinding uptrend (i.e. over several bars) what one can call a small pullback trend I will have multiple entries and exits. Instead of taking one entry and holding it. For instance, in a bull SPT I will exit at peaks and enter again at cheaper prices on PB’s. The SPT is the general context. On the pb’s I pay close attention to each bars dynamics to enter again. Likewise, on the peaks or swing highs for exiting.
Not too knowledgeable about nodoji but dbphoenix is a charlatan. Ironfist is intelligent, though - if he says something I'd probably believe it. He is almost as critical of everyone as me, and that's a complete method in his thread with no guesswork or any other silliness that gurus here post.
This thread with turn into a battle of those who believe that they can predict price action and those who believe it is impossible. Even those who feel as though they can read the market can have an exit signal countered by the following candlestick. So maybe trend followers should work on reading the market and price action readers should work on adding to a profitable position? Thanks to contributers in this thread as it has given me something to think about.