This is hysterical. You're like the student who keeps wanting to be introduced to the teacher when he (or she) has tried to talk to you time and time again, you just keep going to the next person asking to meet the teacher ... *** Several quality traders have posted information here for you. Take the time to read their posts and absorb the information being given to you for free. JJ
You know what, in life, things will hit you at times where you least expect it. However, a true warrior will persist on his path because he knows at the end of the tunnel there is light to greatness. For all of you viewing in this journal, the journal will continue on with or without any "mentor". I will be doing the writing myself and the learning myself. ~TB
There are over 50,000 systems out there that "teach" you how to become good at the markets. I only follow one. My own system.. Now I am here to show you what my system consists: MACD, Volume/Volume Surge, Price Direction, Trendlines, J-Lines. As posted earlier, I play the mini Euro FX June 07 Contract. I use MACD to confirm directional shifts. I use trendlines to confirm breakouts or failure to breakouts. Finally, I use colored volume to determine the bull/bearish dominance. Here is one of my first charts on the Euro - thirty minute time frame. "http://picnac.com/images/7966Euro_FX_Jun_07.jpg" Now, in this chart, a few things are going on here on May 5th our most recent time frame. MACD Indicates sell and lesser volume(little guys may start moving this price down). My inclination will be to short this come monday morning and hold for the day and eject before 4:00 p.m(time mini euro fx on cme closes) I drew in the J-Lines(My personal expectations on where I'd like to see price go using support and resistance) and if price goes through the top J-Line, that will confirm my short sell decision. Price can go up, sideways, or down tomorrow. The price is starting to make lower lows lately and we could be in for a reversal or indecision. Either or, I would start to bet my money on the downside. I was reading on euronews.com that the Euro has been stronger in its dominant countries more than ever. However, you will see sometimes in these markets good economic numbers and good expectations, but incongruent price movement. Why is that? People can be unpredicatble. We can have the best economic numbers out there on the Euro. That won't stop price from reversing. Also, dailyfx.com is reporting over there that there is a lot of overbought pressure for the past few months and things will need to eventually change shift. This is why I am starting to bet short on the mini Euro FX. I will be going short 2 contracts tomorrow and let's see how this stacks up.. We are waiting for either increased green volume to take price to its next level or red volume to prompt a reversal point in this trend. Lastly, I also notice that the longer the time frame the more accurate the signals are. I do not like to trade tick charts, 1 minute, 5 minute, and anything of shorter time frame. My preferred time periods are 30 minute, hourly, daily. PS: Ignore the top RSI / SMA cross over chart. That is something I'm testing right now.
Hmm - this is a rather strange comment coming from one seeking help. I suppose in your mind you sense that by calling out some super trader on the family jewels, that he will feel compelled to defend his status amongst the gender - hahaha! To reiterate Socrates' poignant comments: "Young men are impetuous. Impatient. Egotistical. Not that you have to be as old as me to trade well, but you have to have been in your skin long enough to know yourself ... (and this jem) ... Persistence. And how do you to ascertain persistence? That alone is the key. The machine that cuts and polishes that key is maturity and self-awareness." May I humbly submit the following: Start here: http://www.elitetrader.com/vb/showthread.php?s=&threadid=83604 Read every word - study every chart - follow every link and read some more - put in the screen time - work your ass off - make it your own - then buy that upper middle class house Have fun!
If you are going to be swing trading holding for a few days to a couple weeks, wouldn't you want to be looking primarily at daily charts, possibly weekly charts for reference? Are you going to be trading intraday after all? If you are, why show us the 30 minute? If you aren't, what made you decide to switch?