Ok i see, very interresting.
I will be setting up some P&F charts over the weekend! I am very excited about the months to come
I have a few more questions but its friday night and im gonna go
get tossed, enjoy your weekend m8 and thanks for the link and all your help on this subject so far.
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There is no need to use P&F charts unless that is what you really want to do.
When price touches a 250 level then you can use that as an extreme instead of using a weekly+.
If price moves beyond the 250 then you can look to intercept price with space drawn from a +125.
I think that I am going to stick with candle charts for the foreseeable future:
7 minute, 28 minute, weekly, monthly.
I have been going back and forth on whether or not I should include the 28 minute chart as the monthly is not of great importance.
When price touches a 250 level then you can use that as an extreme instead of using a weekly+.
If price moves beyond the 250 then you can look to intercept price with space drawn from a +125.
I think that I am going to stick with candle charts for the foreseeable future:
7 minute, 28 minute, weekly, monthly.
I have been going back and forth on whether or not I should include the 28 minute chart as the monthly is not of great importance.
- Braathen
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Yes i got a bit overexcited as perusual and after thinking
it through i will be sticking with the weekly+ until i start
seeing more progress.
As for whether or not you should include the 28 min im not sure
The one thing that springs to mind is i like a chart around the
hourly size with 3x cc's.
I really like these for comparison and looking for price to reach.
I'd say a large CC (compared to recent past) is a good place to
look for a sexy extreme on the 7 min. But then again im sure u can
see this on the 7 min. So maybe 56min CC's? Just trying to help
it through i will be sticking with the weekly+ until i start
seeing more progress.
As for whether or not you should include the 28 min im not sure
The one thing that springs to mind is i like a chart around the
hourly size with 3x cc's.
I really like these for comparison and looking for price to reach.
I'd say a large CC (compared to recent past) is a good place to
look for a sexy extreme on the 7 min. But then again im sure u can
see this on the 7 min. So maybe 56min CC's? Just trying to help
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-
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- Braathen
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So with this setup you have, im lead to believe
your only wanting to trade the current weekly extreme's.
My question (if this is what you do) is do you
trade before a weekly leg is made?
Example could be, last week a leg long was made and
price dropped in just above the 83.33% ret.
Price then made a nice swift (daily leg) into the 16.67% ret and
didnt go further, droping a bit and then week close.
Would you then be looking to buy weekly lows and try catch
the expansion/new leg?
Hope this isnt to off the wall.. been a long day and its very late.
your only wanting to trade the current weekly extreme's.
My question (if this is what you do) is do you
trade before a weekly leg is made?
Example could be, last week a leg long was made and
price dropped in just above the 83.33% ret.
Price then made a nice swift (daily leg) into the 16.67% ret and
didnt go further, droping a bit and then week close.
Would you then be looking to buy weekly lows and try catch
the expansion/new leg?
Hope this isnt to off the wall.. been a long day and its very late.
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-
MO-
Weekly+ means to weekly and beyond!
Sorry, I had a Buzz Lightyear moment...
This is how easy it is:
I) the chart that I am trading IS THE 7 MINUTE!
II) my position just happens to be the WEEKLY+ extreme
--->FOR EVERY TRADE<---
again?
I am looking to the 7 minute for the trade & I am looking to the weekly+ for position.
How is this done?
I) I draw my space from the extreme
II) I see a reason to enter on the 7 minute chart
III) I enter a limit order on one of the retracement lines or place
a market order for x lots prior to the breakout of said line.
Kewl, I'm in a trade...now what?
I) I look to take profit and reenter for more lots at a higher(?) price
II) I might trade to the higher(?) price for a better position or an even greater number of lots.
III) I keep the goal in mind: a LARGE position PRIOR to the weekly+ expansion.
There is no VooDoo, there are only 3 steps:
I) Position
II) Lot Size
III) Expansion
repeat until your eyes bleed.
Sorry, I had a Buzz Lightyear moment...
This is how easy it is:
I) the chart that I am trading IS THE 7 MINUTE!
II) my position just happens to be the WEEKLY+ extreme
--->FOR EVERY TRADE<---
again?
I am looking to the 7 minute for the trade & I am looking to the weekly+ for position.
How is this done?
I) I draw my space from the extreme
II) I see a reason to enter on the 7 minute chart
III) I enter a limit order on one of the retracement lines or place
a market order for x lots prior to the breakout of said line.
Kewl, I'm in a trade...now what?
I) I look to take profit and reenter for more lots at a higher(?) price
II) I might trade to the higher(?) price for a better position or an even greater number of lots.
III) I keep the goal in mind: a LARGE position PRIOR to the weekly+ expansion.
There is no VooDoo, there are only 3 steps:
I) Position
II) Lot Size
III) Expansion
repeat until your eyes bleed.
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- Braathen
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MightyOne wrote:Weekly+ means to weekly and beyond!
Sorry, I had a Buzz Lightyear moment...
This is how easy it is:
I) the chart that I am trading IS THE 7 MINUTE!
II) my position just happens to be the WEEKLY+ extreme
--->FOR EVERY TRADE<---
again?
I am looking to the 7 minute for the trade & I am looking to the weekly+ for position.
How is this done?
I) I draw my space from the extreme
II) I see a reason to enter on the 7 minute chart
III) I enter a limit order on one of the retracement lines or place
a market order for x lots prior to the breakout of said line.
Kewl, I'm in a trade...now what?
I) I look to take profit and reenter for more lots at a higher(?) price
II) I might trade to the higher(?) price for a better position or an even greater number of lots.
III) I keep the goal in mind: a LARGE position PRIOR to the weekly+ expansion.
There is no VooDoo, there are only 3 steps:
I) Position
II) Lot Size
III) Expansion
repeat until your eyes bleed.
lol buzzlightyear moment.. made me laugh
Ok so, no more stupid qestions for the time being.
Goal is set to make eye's bleed.
Thanks again m8
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-
MO-
- Braathen
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dojirock wrote:My eyes are bleeding......but im not giving up!
dojirock
haha doji i feel you man.. its a tough road.
I love pumping myself up with some of these youtube
motivaters. Keeps me keen and wanting more.. wanting to make
my success great so i can give back before i leave.
My favourite is this guy atm http://www.youtube.com/watch?v=Oy0Lj7Rk ... e=g-subs-u .. eric thomas.
Dude just explodes!
Greatness is upon you doji
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
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MO-
- Braathen
- rank: 500+ posts
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Ouch that pic was huge.. putting in quotes is kewl
Braathen wrote:First trade of the week.. thought id try kill it by posting it here
before its gone its merry way.
Didnt get any longs so im trying to trade back into my range.
Oversized my position so its back over the current weekly high
so i have some extra space to play with.
Short is 3/9 at 1.2616. Target is a nice big spike down.
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-
MO-
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