PowerX Strategy "PowerZ"

[IgazI]

I guess the red rat trade would have worked here 5 out of 6 times on those tests of support.

- what is up?
- what is dn?
- what is in?
- what is ot?

Patterns and breakouts.

Risk and reward.

That's all I am thinking about. . .

not the "IC Triple double scoop, make your momma proud, YouTube is the best source of educational content" entry.

[IgazI]

Its interesting how a free market is not really free after all if the government decides to "fix" things.

The other interesting thing is that the timing, as it broke through and went up, I'm guessing the news came out then when everyone changed their bias. Coincidence??!!!
That seems like a big manipulative trap.

No. You can be sure they plan all of these things while claiming ignorance.

[IgazI]

"I know what's up there. . .you go first"

PS: Noice! a clean break!

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[IgazI]

Most of the money is made through stacking and waiting. . .
that's why I don't like to day trade.

- get size.
- wait.

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[IgazI]

Alright, let's see if we get to $22600-800. . .
**sips coffee**

Call me 'butter', because I'm on a roll

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[IgazI]

What is there to say really?

Welcome back, Kreslik! again

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[IgazI]

Old School or New School?

Back when we used to plot our charts by hand, at the kitchen table, our intraday charts used to look like this:
if we were plotting hourly closes then we would draw a line from 30 minutes ago to the hourly close:

the goal was simply to manage the trades that were placed from the perspective of the daily chart.

Why am I bringing this up? because I see a lot of people glued to their charts, trying to decipher every little wiggle and stall.

You don't need to do all that. . .your charts don't need to move. . .

every long/short is from a closing price.

If you want to record daily highs and lows then that's fine, but for small charts you don't really need price extremes.

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[aliassmith]

Old School or New School?

Back when we used to plot our charts by hand, at the kitchen table, our intraday charts used to look like this:
if we were plotting hourly closes then we would draw a line from 30 minutes ago to the hourly close:

the goal was simply to manage the trades that were placed from the perspective of the daily chart.

Why am I bringing this up? because I see a lot of people glued to their charts, trying to decipher every little wiggle and stall.

You don't need to do all that. . .your charts don't need to move. . .

every long/short is from a closing price.

If you want to record daily highs and lows then that's fine, but for small charts you don't really need price extremes.

old_school_charting.jpg

That is funny. I told a group of Gen Z guys that I traded with paper charts and called my broker daily. I dont think they knew what paper is.

I dont think they knew what phone calls are either.

[Don_xyZ]

Old School or New School?

Back when we used to plot our charts by hand, at the kitchen table, our intraday charts used to look like this:
if we were plotting hourly closes then we would draw a line from 30 minutes ago to the hourly close:

the goal was simply to manage the trades that were placed from the perspective of the daily chart.

Why am I bringing this up? because I see a lot of people glued to their charts, trying to decipher every little wiggle and stall.

You don't need to do all that. . .your charts don't need to move. . .

every long/short is from a closing price.

If you want to record daily highs and lows then that's fine, but for small charts you don't really need price extremes.

old_school_charting.jpg

That is funny. I told a group of Gen Z guys that I traded with paper charts and called my broker daily. I dont think they knew what paper is.

I dont think they knew what phone calls are either.

I started in the early 2000's and I still use paper
And don't forget to submit the order ticket please

[IgazI]

That is funny. I told a group of Gen Z guys that I traded with paper charts and called my broker daily. I dont think they knew what paper is.

I dont think they knew what phone calls are either.

I started in the early 2000's and I still use paper
And don't forget to submit the order ticket please

I will approve the use of a tablet to plot your charts, so long as you are using a pen

You will learn a lot more from plotting charts than you will from watching charts. . .
it is sad to see that most people will never gain this level of experience.

It is probably no coincidence that two of the brightest minds on this forum have also plotted their own charts.

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