As you know from experience schizo its not as simple as you've laid out. Removing all emotions would help greatly though. Example will S hold or will R break ? this is where I struggle and for some fk'd reason I'm wrong most of the time in these areas. You will have to give us your professional take on this controversial topic S n R holding or not
DR, just looking at that chart the sideways move is very obvious, as is the extremes. You are right, in that you must never listen to what anyone tells you about where price will go, for only fools predict market direction, as to do that you need to be able to tell the future, which is just not possible. You take the trade at the extremes, or wait for confirmation, or wait for it to renter the range, or wait for it to get halfway in the range - it is entirely up to the trader, his risk level, and how he reads the charts - again, there is no right way, or wrong way, just the way that works best for you. It is not that complicated really, as the maths will work out in your favour once you keep trading, but that is where most fuck up, they risk too much per trade and end up not taking the trades due to a big loss, which might just happen to be the next big move! We will keep repeating the same thing over and over, but until one accepts the facts, and starts trading with the correct risk amount per trade, perfecting entries and exits at all times, then one will not really see that much progress. To me this is very obvious, to many it may not be, but that is the other person's problem, not mine, and I can not fix anyone else's problems, only my own! J_S
This is where the PRICE FLOW comes in. What do I mean by FLOW? It starts with M. BTW most of the gurus here and elsewhere state the OBVIOUS well after the fact.
J_S that's the tip OBVIOUS and that's when a trader should trade and only then. Obvious to you as you've seen this many time before. Your advantage. Triple top failures with final flags Double top failures Trendline breaks Moving through key moving averages How a weekly candle has closed and at what key level pin bar ets These are just some but all are core price action triggers, "patterns" too. The trouble comes in when a trader gets in too early or goes in too big too early etc. Once again the emotional side screws the inexperienced over. Impulse, greed, fear, fear of missing out, the list goes on. Just thought of some thing that's what I've learned lately "using market orders to enter trades as opposed to "buying at market" Sometimes my order is not filled and I'm happy ...it would have otherwise ended in a loss.
PRICE FLOW, you must be talking about things like Market Delta order flow or using volume ? Yes ... NO ? This is a completely different approach hope to hear it's working for you I found the demo version quite hard to trial the support was pretty bad at that time that was 2 years ago
No, I am not calling names. I'm merely stating the obvious that most people, regardless of their guru status, resort to hindsight analysis. For example, J_S's claim "just looking at that chart the sideways move is very obvious, as is the extremes." Would he have said the same thing as it was happening? Likely not.
NO. I have no idea what they are and I ain't interested in knowing about them. Mine is much more simpler, and it's called MOMENTUM.
Ok I agree on this and it's good to hear from another trader because it can confirm ones own thoughts. MOMENTUM makes all the difference I've mentioned this in previous posts. I was shorting the DAX when serious MOMENTUM was present and man it was like shooting fish in a barrel. However to that degree I have not seen it often. But if your method is mostly based on this then I can see it bringing in profits. The trap would be if you entered when you though it was present when in fact was not. I'm sure you've got filters in place to verify when it feasible or not. Really hope it's making you consistent.
Have you not been paying attention Sir Schizo is becoming consistent (fact is..., he had a very good week) - but it not due to his method It is directly and solely - due to him..., his efforts..., his control of himself As it is.., and will be - for all of us ===================== Fact is - there are more ways to trade successfully than we could count It solely the trader who ultimately makes what ever way - successful And in large part - what this thread is about RN