Why Is The Obvious Not So Obvious?

So you’re saying; NRB’s offer low risk…, conversely WRB’s make the money…, or a significant loss if we don’t protect our self

Sounds reasonable….



So, with respect to a NRB’s;

Where should we be entering

When should we be entering

How do we go about finding NRB’s


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As for identifying direction

You’re saying a trader can use Stochs, CCI, or anything

Truthfully I consider this a bullshit answer…

You really going to sit there and tell me you'll be putting anything on your chart(s) to check probable direction



One more time please…;

Name 1.., 2…, or 3 tools you are going to use on your chart(s) to identify probable direction

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Rest assured I will not relinquish…, or move on…, until the above has been satisfactorily addressed – because;


Whatever we decide to use;

It must be as simple as we can make it…, we must understand it – 100%..., we must trust it…, we must embrace it

And most important…, we must use it

RN

 

Hey CM,

You referencing this by chance?

http://www.elitetrader.com/vb/showthread.php?s=&threadid=153107&perpage=6&pagenumber=2

If not - let me know

You're Very Welcome Sir
RN

 

SIR = Stupid - Ignorant - Redneck


Now I see how you roll

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You Are Welcome Note

btw;

learning how to trade = easy
learning how to be a trader = is the real bitch (mark my words)


RN

 

Maybe there is no such thing as "obvious" when it comes to trading; otherwise the whole game would cease to exist.

If it was obvious that price was going up then nobody would sell & therefore nobody would be able to buy. Game over.

Trading, like many things has to do with what is going to happen in the future. I don't know of any profession where the future is obvious.

It's not even obvious that the sun will come up tomorrow, although we'd all bet our life savings on it. That would be an extremely high probability trade.

So the obvious is not obvious because there is no obvious to begin with.

It's a probability game.

 

Sir I am not sure about the answer.
but the easiest can be that we enter at the break of high (long) or low(short) of NRB, with stop loss set to low /high (reverse);

A bar to be a Narrow bar, price should be confined in the previous bar, and open and close of bar should be as near as possible.

I read today, it says they are NR7, or NR4 bars, i don't understand
why 7 or 4, means narrow bar can come after 3 bars, or 10 bars. but anyways whenever it comes it just says that there is a state of indecision.

for direction, moving averages can give me some idea that where price may go in near term. or just by visual inspection. or trend lines ?..

btw, if we find that money showering bar then we should call it RN bar (Red Neck bar)

 

Remember my goal – get you thinking for yourself

I am not sure about the answer

I respect not knowing/ not being sure

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the easiest can be that we enter at the break of high (long) or low(short) of NRB, with stop loss set to low /high (reverse);

You’re saying enter on the close of a NRB / open of the next bar – with a stop just the other side of the NRB (the other side being opposite of our trade direction)

Sounds reasonable – however there will be a few conditions we need to be cautious of… and observant for

What would these conditions be?

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A bar to be a Narrow bar, price should be confined in the previous bar, and open and close of bar should be as near as possible.

An inside bar – yes that is a NRB… but is is narrow enough.. AND.. it could be signaling;

A reversal
A narrow range forming
A pullback
Or a continuation (this being the only condition where buying the “break of the H/L” would make you money)

All else aside (which is never a good idea) you have a 1 in 4 shot of an inside bar making you money – or 75% chance it loses you money


There are other conditions where a bar could be labeled narrow – what could these conditions be?


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I read today, it says they are NR7, or NR4 bars, i don't understand

why 7 or 4, means narrow bar can come after 3 bars, or 10 bars. but anyways whenever it comes it just says that there is a state of indecision.


As for the NR7 set up – like you aptly stated – it can be very problematic… I’ll pursue it with you if you like – otherwise..

If it does you no good – set it aside and move on – as with all things

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for direction, moving averages can give me some idea that where price may go in near term. or just by visual inspection. or trend lines ?..


EMA on your TTF – I like it

Trend lines… and add in channels – I like it

Visual inspection – absolutely… however – this too can be problematic;

Different TFs can contradict – So which do we follow?

We are prone to questioning what we see…, not believe it…, even trade in the opposite direction – You suffer from this?


There are some other tools for direction finding that you may find valuable – take a shot at naming more


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On another note,

Please describe your platform layout… if you’re hesitant to (possibly thinking you may give something away) – make one up (a layout)


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btw, if we find that money showering bar then we should call it RN bar (Red Neck bar)


You end up able to make a living at trading – you’ll have earned every nickel of it – 10X over


RN

 

Note,

Do you have the following;

Business plan

Trading plan

Methodology Plan (I'm assuming this is the one we're working on)


RN

 

I just sent you a message;

Thanks

 

Taking all the indicators and moving averages off my charts made it obvious for me. To me, the only thing that matters is price. Wherever the price goes, profit follows.

 

This is not it, but this is equally good if not better. I really appreciate it. Have you ever read the Bhagavad Gita? or happen to be a student of Vivekananda or Yogananda? Thank you.