Ah TZ, come on now. You can do better than that, can't you? Where's your deep trading analysis. Let's see what you've done LOL. Instead of saying, it's not here, it's not there, it's not anywhere... how about saying, here's how I do it? Show us what you know instead of how much you don't know
Yeah, I know, but that's not really good enough, is it? I mean, you don't come into a TA thread guns blazing about what doesn't work when you publish you don't believe in TA, and expect to walk out again with your head in the same location, now do you? This thread was for traders of experience to pass on some assistance to other traders showing how they train them. However if it turns into a cat call girlie bar then it's time for the OP to do something. I'll ignore talkingstatic/cold as he's just a ghost reading from a book. But TZ, he's a real man with zillions of posts and time on ET. TZ knows a thing or two and sure let's everyone know they are wrong, but I just can't hear TZ say here's how it's done. TZ, here's your chance. I've done this umpteen times on ET so what's one more time, eh? Let's you and me show lesser traders how it's done. You have your ideas and we are all busting the gut to see them. I have my ideas which you say don't work so let's man this out in public for the benefit of all, especially everyone you so high mindedly criticize. Let's see you call a trade on the ES or Eur and tell us what's going to happen over the next hour after you have called the trade. As I've done this loads of times on ET and it's my thread I'm going to let ladies go first and let you call your trade. Of course I will have a stop that I don't expect to get hit but if it does I'll just re-enter quite soon. Meanwhile we will see how your stopless trade will perform. Welcome to the real world of trading and TA that works.
right now i'm watching the dollar index and the eur/usd and eur/jpy along with the djt,spx,nq,uvol/dvol and advn/decn and trading the es ,that and trendlines and market profile are enough to cue me in on where to enter exit add or reduce,the placing of a stop is not in my toolbox, if we were to go above say 1116 i would be a suspicios beleiver in more upside and would probably close short positions....in an existential way you could call that a stop
Interesting approach. Are you saying you are using the Fx to help get the ES direction or are you looking to trade those too? What is your timeframe?
i only trade the es, these other things i watch(excuding djt)the banks watch ,so in theory if you watch what the big players watch,you increase your edge , if you watch them long enough,you become familiar , the eur and dollar often blow thru trenlines or fudge on the lines, knowing this keeps you from jumping in or out without a confirmation from another trading vehicle
Your comments related to euro/dollar are spot on...was trading ES with Euro prompts suddenly became very erratic of late...have held off trading that way and no real damage caused.
ok ammo, if that is typical of how you draw TL's and read a big time frame chart then I understand why you're having a problem with stops. In every time frame the bars are always talking and seeing the detail is important for telling direction, drawing lines, entry/exit and stop placement. Attached is how I have S&R lines that I placed about 12 months back and I can trade those intraday. The dark blue line is more recent, just several months back. I have used lines that are over 20 yrs old and brought them into the 1 min chart to trade - it's all about details but first you need to have them in clear view. I realize you might have just squashed up your chart but I want to make a point. You need a quality detail for an exact entry for a good stop and not just a general zone.