The ideas that I trade by:

[prochargedmopar]

[MightyOne]

MO, in this long term chart, where price is crashing like the dollar a week after 911, can I go long?

Yes, yes you can, yes you can!

All that you need is a 2+ day extreme and for price to close over 'something' on a small chart and you are legitimately long.
But ask yourself where you would place a stop if you were trading just the long term chart & you will notice that your stop is at a high extreme because bodies are closing lower.

Now this creates a problem because you bought and you are still going to add (because that is what you do) but you cannot hold UNLESS the large chart conforms:
a) key-reversal
b) breakout + failure to close lower
c) higher low + breakout + failure to close lower
d) close higher than something
e) close higher + wickdoll
you get the picture.

There is nothing wrong with taking a gamble that the large chart will conform, just don't expect to be able to hold for hundreds of pips without a long term 'something'

Honestly, I have no idea what my fingers are going to do when they touch the keyboard...i just go along with it.

Understand the basic idea and then let your mind run with it.

[prochargedmopar]

MO, in this long term chart, where price is crashing like the dollar a week after 911, can I go long?

All that you need is a 2+ day extreme and for price to close over 'something' on a small chart and you are legitimately long.

Now this creates a problem because you bought and you are still going to add (because that is what you do) but you cannot hold UNLESS the large chart conforms:
a) key-reversal
b) breakout + failure to close lower
c) higher low + breakout + failure to close lower
d) close higher than something
e) close higher + wickdoll
you get the picture.

Yeah, I see none of that.
But I did what you said. LOL
I also shorted Ecad 3x but got out with $1 profit.


Here is why I went long even though there was no price conformation OR a fresh demand level let alone an original level.
Last week I closed profits of $11, this week it was $25. Make a joyful noise. 6 yrs in Im pretty masterful eh?) LOL



"If I can see loss, I can see profit"
Space and trend trading "could" work without having to pick longer term 'extremes'.

Keyword. "could".

[MightyOne]

All that you need is a 2+ day extreme

and for price to close over 'something' on a small chart

Don't break it up, read it as one sentence

Did you stop at 'yes you can' and not read the rest of the post?

Lets start over again...
Bodies show the way, wicks show not the way.

Stops at 2+ day extremes hold the potential of 2+ day charts; you are trading long term charts!

Trading IS placing & trailing stops; where would you place a stop & in which direction would you trail it?
Your stop is at a long term extreme, YOU ARE TRADING LARGE CHARTS!

GAMBLING:

All that you need is a 2+ day extreme and for price to close over 'something' on a small chart (you know, AWAY from the extreme!)
Next we need the large chart to conform:

if a candle breaks lower + doesn't close lower then that is still pretty weak but at least it is something.

If there is a higher low, creating a pivot, and price breaks the higher low but doesn't close lower then that is much stronger.

But what we are looking for is for price to close above 'something'.

Lastly...

Extremes create a sandbox in which you can play; don't blame the sandbox for your inability to make sandcastles!

& please remember that, when gambling against the direction of profit, you need some reason to believe that chart will conform
at least minimally:

[MightyOne]

For those who cannot afford to replace their trading account:

With a $10000 account I suggest a minimum size of 16 micro or two units of 8 (not necessarily placed at the same time).

$ 1250: 1 to 2 micro
$ 2500: 2 to 4 micro
$ 3750: 3 to 6 micro
$ 5000: 4 to 8 micro
$ 6250: 5 to 10 micro
$ 7500: 6 to 12 micro
$ 8750: 7 to 14 micro
$10000: 8 to 16 micro
$11250: 9 to 18 micro

$12500: 1 to 2 mini

Your risk should be ~0.016% per pip.

[Captain Pugwash]

still playing with this DOP stuff - still not right tho

[MightyOne]

still playing with this DOP stuff - still not right tho

Start with the basic pattern, a double hook, and notice that the second hook is a breakout that defines the triangle:

"I saw a triangle around here somewhere...
*moves dirt with foot*
...& this spot where the cricket jumped up and tried to bite me in the knee is not part of it"

Start with the simple and then add to it if needed.
It might be the case that you adjust the placement &/or angle of the lines having found the median line.

[kate682]

Been over and over it all.
Feeling totally lost.
If you have a cone, at what point do you enter a trade.
When it closes 'over something'.
Although I'm adding to my account, I lack consistency.
I've been bashing away at this for years now.
What aren't i getting i keep asking myself.
I have got to be either stupid, or lacking something basic.
My trading seems like a war zone.
I am feeling so despondent right there and now.

[Sandra]

Been over and over it all.
Feeling totally lost.
If you have a cone, at what point do you enter a trade.
When it closes 'over something'.
Although I'm adding to my account, I lack consistency.
I've been bashing away at this for years now.
What aren't i getting i keep asking myself.
I have got to be either stupid, or lacking something basic.
My trading seems like a war zone.
I am feeling so despondent right there and now.

Me too...i dont even know what to ask anymore....

[Captain Pugwash]

still playing with this DOP stuff - still not right tho

Start with the basic pattern, a double hook, and notice that the second hook is a breakout that defines the triangle:

"I saw a triangle around here somewhere...
*moves dirt with foot*
...& this spot where the cricket jumped up and tried to bite me in the knee is not part of it"

Start with the simple and then add to it if needed.
It might be the case that you adjust the placement &/or angle of the lines having found the median line.

OK - I actually think I understand what to do now

I will do another markup after work on another unrelated pair

And post it for marks out of 10