Done for the day 1st.
Horis.
2 deaths, 1 re-entry big bang, 1 big bang.
- horis in and out.png (22.98 KiB) Viewed 1092 times
If you look at it, it's in and out like IgazI said but you must know what to look for and when because there are different sizes of that black box and different speed (1 fractal, 2 fractals, 3 fractals etc)
IgazI wrote:I think of a chart as a series of snapshots capturing a moving object.
If you are looking for 10 or 20 dots (snapshots) between prices then look for the same from the larger chart and adjust your price and time investment expectations accordingly.
Small stops can be used on any TF, it is just not going to be based on the technicals; if 4 points is 'too big' for a ltf renko then 4 points is plenty for a stop.
The way I have my split-tape figure chart set up is:
° 6 minutes x 12 prices ending in a 72 minute HL range
° 4 lines per card ending in 1/5 of a day (288 minutes)
I find myself always gravitating toward a 5, 60, 240 setup;
the largest just being used as a quick overview of the price action, the middle for structure, the lowest for decision making.
I use a 'three camera setup', for me it's ideal.
Anyway, I'm currently in the god's nowhere of Arkansas, population 190 something, with no cell service, so it might take me some time to respond.
Will try to see what I can take in.
Uhhh... like one of those "wrong turn" movies?
enjoy your time!
kiwiarian wrote:Don_xyZ wrote:Done for the day, for the 2nd time today both on AU but yeah... let's just jog.
IgazI wrote:
Darvas and Jesse achieved it through the use of very tight stops: after getting stopped, they would watch the price action to see if they should be out or if they should get right back in. . .
I know the answer is 'tight stops at all times', but I tend to be a bit generous with my points; I just don't like trading with stops in place.
Tight stops works but problem is, the dots reach the prices faster on htf. In M1, it requires more than 10 or even 20 dots to reach for ltf to reach certain heights in price but prolly only 1 dot in H1. This translates to missed prime entry opportunity. So if I were to achieve or get more % gain in htf then i must be thinking about scalping that tf.
not that many opportunity due to speed to reaching price.png
abundantly provided on ltf.png
Also I would be tempted to go to ltf if I must use tight stops all the time
However, if I were to ride the momentum beyond daily candle (0) then it defeats the purpose.
So I guess my best bet would be to find something with a strong hit rate coupled with bigger risk (layered or even parlayed). As for the trading method, right now I have Catch The Tail and Strat's 123 in mind. I haven't discussed Catch The Tail in deTail yet (pun intended)
Or do you guys have some ideas for me to try?
deTail and 123 sounds good, Mo did 1/3 dots as well on the hourly chart looking back at the NLA thread ?
Yeah, maybe I'm gonna revisit that thread also. Very much possible to get great ideas there.
kiwiarian wrote:kiwiarian wrote:Don_xyZ wrote:Done for the day, for the 2nd time today both on AU but yeah... let's just jog.
Tight stops works but problem is, the dots reach the prices faster on htf. In M1, it requires more than 10 or even 20 dots to reach for ltf to reach certain heights in price but prolly only 1 dot in H1. This translates to missed prime entry opportunity. So if I were to achieve or get more % gain in htf then i must be thinking about scalping that tf.
not that many opportunity due to speed to reaching price.png
abundantly provided on ltf.png
Also I would be tempted to go to ltf if I must use tight stops all the time
However, if I were to ride the momentum beyond daily candle (0) then it defeats the purpose.
So I guess my best bet would be to find something with a strong hit rate coupled with bigger risk (layered or even parlayed). As for the trading method, right now I have Catch The Tail and Strat's 123 in mind. I haven't discussed Catch The Tail in deTail yet (pun intended)
Or do you guys have some ideas for me to try?
deTail and 123 sounds good, Mo did 1/3 dots as well on the hourly chart looking back at the NLA thread ?
And and and
is this purely technical analysis, or looking at something like this for bias?
https://www.youtube.com/watch?v=BtfxA7BocBAand and and
https://charts.equityclock.com/australi ... onal-chartooh, April looks like a good month.........
BK and the girl? Weren't they on FXCM team from long ago?
Those things are great for long(er) term traders so it's not that suitable for me. Then again, if you think about it, I think traders need to focus what's in front of them rather than the whole community. If you are trading let's say EURUSD, you should only focus on that rather than DXY because you are trading EURUSD not DXY. There is relationship between the two (or other instruments) for sure but you want to catch what's happening on EURUSD. The chart shows the way. Analysts and hedge funds do pay attention to them but you're not them. You don't handle multiple accounts, you don't have that much deep of a pocket and you don't get paid the way they do. There is a world of difference between retail traders and them. However, if you aspire to be a hedge fund manager then by all means. There are thousands of traders who don't pay attention to other charts than the ones they are trading with and guess what, they make money just fine
So, why do you need the extra headache if you can simplify it?