Think in terms of statistics. Thats what trading is about. What are the weapons in our trading arsenal?
Cone lines? im currently working on but refuse to post any yet due to risk of embarrassment. lol
I trade really one basic way all the time using these tools. My templates are different due to different ways of showing how to see these tools but my actual trading doesnt change. On demo I use a modified way of scalping to learn and hopefully to better my live way of trading. Until that happens, I will not change my scalping method. Im very close to finally being able to trade longer term in a way that im comfortable with. Same tools, different rules. The following pic is an example of that.
Have you noticed, Bettlebox, trades the same all the time, he knows his success depends on it. But, he does look for improvements on the side to add to his success but not till it has proved itself.
Arkan, look at his charts, all the same... Find a way that works for you news, with your emotions and understanding, regardless the success rate.
THEN make the small changes to make it successful.
dojirock wrote:I first wait for semas to start lining up. Then look for RB or 50 lines to start forming with a lower high, lower low. The daily candle had gone bullish then below the daily open, so I was trading away from the extreme on this one.
OK, to clarify on this and the marrying up of TFs.
1. You're looking for an H4 sema to be at the same price as a previous H4 sema?
2. You're then looking for RBs or 50s (I understand both, no worries, thanks) on the m5? OK...what about when you've said gonig with the higher tf rb?
3. You're trading in the direction of the daily?
And these are rules or just in this instance?
Am I being too mechanical about this?