I still want to know if those using "the obvious" are using an always in approach or a target approach.
I use targets according to the plan,but sometimes i see the price can go beyond the target(volume).In this case i let it go and exit when volume drops and BO occurs.
Regarding ADR, all the charting software I've come across has not had ADR available as a standard indicator. Some charting software has the option to program your own indicators, so calculating the H-L range and taking an exponential moving average with period 5 should then be straightforward. TC2000 which I use can do that but I don't use it for that. Instead I get the ADR of stocks using my own tools, which are not readily availble, to access yahoo finance end of day data and do the calculations and plots. I seem to recall that TE stated on another thread that he had an Excel program to plot the ADR of stocks. Repeating what he stated openly elsewhere, the important thing is that daily range is at least 50c over the last 30 days. In fact I prefer a minimum of at least $1 since personal circumstances only allow me to trade the afternoon session. Most charting software will have average true range as an indicator, so setting the averageing period as 1 and plotting it below a daily chart would show the true range. Using a higher threshold in the event of gaps, it should then be possible to judge by eye if the daily range is also sufficient.
I think the point of this thread & those like it is that it doesn't matter at all want some other traders are using. There are an endless variety of ways to make money trading, so even if someone is successful with an "always in" approach it doesn't mean you can't be even more successful with whatever approach you come up with all by yourself. Maybe then everyone will try to figure out what you're doing instead of the other way around.
Well i think i should say a big thank you to all the experts, oracles and all round gurus for reminding me of how stupid i will be if the obvious does not become obvious to me very soon. I looked in to the mirror and found this wart i didn't know was there, and it all became obvious there and then, like one of those funny pictures you have to stare at for a long time before you get it (not to mention my penis could with an extention). Ohh and i also realised that with all that fibonacci rubbish in my allready corrupted mind i will remain in the 68.2% or 78.6 or even 88.6 of the dreamers that flood there forums, boy i wish i could make a poem out of all this, it would give me more cred and i may even belittle the fools lower in the feeding chain than me.
when u look..into the book know for sure..that all is pure some will try..to shift your eye those who know..will make it grow never fear B193..for all u need to do is change the way u think..remember i can still say with all honesty..that the few mentioned are just worth reading..the rest who appear..well..will soon disappear..just wait and see..for it is so predictable..just the way things are never forget..u must learn how to quickly distinguish between those who know what they are talking about..and..those who do not never be afraid to tell those who waste ur time..to fuk off..as they are actually costing u money..even though u might not think they are! the world is full of idiots and assholes..just don't get involved with them or u will quickly become one of them TO
ZT..price can only do 3 things 1. move up - buyers exceed sellers 2. move sideways - buyers equal sellers 3. move down - sellers exceed buyers u do not want to be in a trade when buyers = sellers why so because?