PowerX Strategy "PowerZ"

[BambinoFlex]

D2 is the combined range of two days, paired two by two from the beginning of the month until the end.

The timing of what?

Got it, and by "timing" I'm referring to the screen time. I find it easier to divide my day trading day into the six - 4hr candles. With focus on the 1am - 5am NY time candle, 9am - 1pm and the last 1pm-5pm NY time candles. It just "easier" for me to see the ranges forming, with an expectation of a breakout when compared to drawing ranges on the lower timeframes, that produce ranges earlier (a plus) and in a greater quantity. I'll compare the 30min range, as the one you drew closely matches the 4hr ranges I'm able to see.

[prochargedmopar]

It's really all in our heads. Seeking a solution to what we assume is the problem. After a few days of digesting the up-down-in-out, I can see the simplicity in it. I opted for my up-down line being the middle of the ranges (still in the works). I think the biggest improvement, is that it has cleared my mind from being fixated on a bias. If price breaks out against me, its not a "I'm too early, let me try again on the next range" it's a "oh, price is going up/down, guess I was wrong"

Need to work on holding longer though, or changing my up/down line to a bigger picture view. Price reached my intended target, but I got out early, after about a day of little movement and wicks bouncing off that bottom.

1. Missed taking profits on that swing.
2. Once price reached back into that original breakout, I moved stops to that wick. Wicks show loss, body showed the way.
3. Got out early after price failed to close lower.

Looking over your picture, I think I still need to look at the bigger "picture".

The great thing about simplicity is that you know when you've found it; there's no resistance, just free-flowing thought.

"Out" is not "up" or "down":
If you simply look at the chart then you can see the 'in', the 'out', the lower lows, and the lower highs;
are you trading 'up and out' or 'down and out'?

Remove the 'MO' from your mind
there are only the four questions and the answers growing upwards from within, like a lotus.

The chart below is a 30 minute chart, my preferred intraday chart:
I'd use closing prices for anything up to 30 minutes, bars for H1+, D2 ranges over D1 bars.

But I'm not your daddy, you do you

nzdjpy_bamb.png

"MO" liked the 30m chart for intraday.

[IgazI]

"MO" liked the 30m chart for intraday.

That's nice
But what does that have to do with anything?

[IgazI]

Got it, and by "timing" I'm referring to the screen time. I find it easier to divide my day trading day into the six - 4hr candles. With focus on the 1am - 5am NY time candle, 9am - 1pm and the last 1pm-5pm NY time candles. It just "easier" for me to see the ranges forming, with an expectation of a breakout when compared to drawing ranges on the lower timeframes, that produce ranges earlier (a plus) and in a greater quantity. I'll compare the 30min range, as the one you drew closely matches the 4hr ranges I'm able to see.

I get it.

That's exactly why I use the largest intraday interval and the shortest block of time required to make trades:

If I check the charts every 30 minutes (which I don't) and spend no more than 5 minutes in front of the charts then it will cost me 4 hours of my time.

If you have to sit in front of the charts all day then that's just another job

One of the best ways to manage your time is to get into the practice of setting alerts:

danger_will_robinson.png (23.13 KiB) Viewed 676 times

[prochargedmopar]

Got it, and by "timing" I'm referring to the screen time. I find it easier to divide my day trading day into the six - 4hr candles. With focus on the 1am - 5am NY time candle, 9am - 1pm and the last 1pm-5pm NY time candles. It just "easier" for me to see the ranges forming, with an expectation of a breakout when compared to drawing ranges on the lower timeframes, that produce ranges earlier (a plus) and in a greater quantity. I'll compare the 30min range, as the one you drew closely matches the 4hr ranges I'm able to see.

I get it.

That's exactly why I use the largest intraday interval and the shortest block of time required to make trades:

If I check the charts every 30 minutes (which I don't) and spend no more than 5 minutes in front of the charts then it will cost me 4 hours of my time.

If you have to sit in front of the charts all day then that's just another job

One of the best ways to manage your time is to get into the practice of setting alerts:
danger_will_robinson.png

Already have TV "Pro".

[IgazI]

Already have TV "Pro".

NinjaTrader, TradingView, Barchart, MT4, whatever, . . .
just set alerts.

[IgazI]

How much ADA would I trade for BTC? <35000 would be an instant trade. . .
46k would be a fair exchange of value.

ADA_for_BTC.png (96.34 KiB) Viewed 604 times

[BambinoFlex]

I get it.

That's exactly why I use the largest intraday interval and the shortest block of time required to make trades:

If I check the charts every 30 minutes (which I don't) and spend no more than 5 minutes in front of the charts then it will cost me 4 hours of my time.

If you have to sit in front of the charts all day then that's just another job

One of the best ways to manage your time is to get into the practice of setting alerts:
danger_will_robinson.png

I think I was outsmarting myself again During my drive to work, I realized that trading the 30 minute chart doesn't mean watching the chart every 30 min. I can still spend watch the 4hr candles, but zoom in the 30min and see what's happening with those to determine that breakout I'm after. Things really can be made simple.

[Don_xyZ]

Already have TV "Pro".

NinjaTrader, TradingView, Barchart, MT4, whatever, . . .
just set alerts.

I did actually request and used a lot of indicators that have alerts back then exactly for the reason of making the most of my time. After I ditched indicators, the alerts are becoming either price-based or time-based. I paid for a couple of android apps (clocks with various timers) and some CS pattern-based alerts. Yes, alerts are useful.

[kiwiarian]

Already have TV "Pro".

NinjaTrader, TradingView, Barchart, MT4, whatever, . . .
just set alerts.

I did actually request and used a lot of indicators that have alerts back then exactly for the reason of making the most of my time. After I ditched indicators, the alerts are becoming either price-based or time-based. I paid for a couple of android apps (clocks with various timers) and some CS pattern-based alerts. Yes, alerts are useful.

I presume some of the newer platforms have an SMS/Text based system as an option or are they a case of having the client installed on your phone and it chimes at the set level?
Still on the stone age MT4 at present