Patterns Observation.

[IgazI]

I don't get the line chart one, but the MA7 and 19 with a bias I like, that will do for now until I reread and maybe get it later.

We'll just add a bunch a random data, that should make for a clearer picture

fixed.png (18.41 KiB) Viewed 1089 times

[Don_xyZ]

I like trading like this a lot but it's real easy for price to slap you all over the place.

Yes, don't do it.

You should read what you wrote first because it will show you your own problem, getting slapped all over the place. Fix that first and then maybe you'll see it differently.

However...

If you still can't find the solutions then don't do it.
If you prefer to be a bit more relaxed by using a bigger tf then don't do it.
If you prefer anchor trade type of trade then don't do it.
If you can't find a good strategy then don't do it.
If, if, if, ... (all the negative ifs) ... don't do it.

Simple as that.

I'm gonna crash out.

Well, I started with "I like..." I'm practicing it and getting slowly better.
It doesn't have to be perfect in the first month so I'll get there

I remember the first time teaching math to my daughter. It started with introducing numbers with the help of various songs when she was 3 years old. Now that she's older, whenever she learn a new formula I only need to remind her that "everything is" and she would finish the sentence with "hard in the beginning" and then she would smile as she remembers those early years.

If you don't get it now, relax and just remember your very first days learning forex and how far you've advanced.

I'm learning how to cook and for me it's damn hard. But at least I can now do some very simple menus consistently. I'll get to where I need to be, someday

More scalp. This time with SL.

ScreenHunter 25.png
as is.png

Line chart is more than sufficient.

Enough for the day. ?

I like trading like this a lot but it's real easy for price to slap you all over the place.

Trading is a lot like Backgammon; you just move your pieces to the other side of the board

I got a big slice of humble pie when I played a cash game against a far superior opponent:
you might think that you're "playing like him". . .but you're not, you're not

I just read Don's post, take notes, and see what I can do to improve my game.

Very nice example.

Whenever I feel like I'm the best trader in the world, I remind myself the days when I first started competing in various trading tournaments (regular and theme-based tournaments) and not seeing my name in the top 25. Those were the sobering moments

[kiwiarian]

I don't get the line chart one, but the MA7 and 19 with a bias I like, that will do for now until I reread and maybe get it later.

We'll just add a bunch a random data, that should make for a clearer picture

fixed.png

LOL, I cheated and added candles the other day and I felt more comfortable with the extra data

[kiwiarian]

I don't get the line chart one, but the MA7 and 19 with a bias I like, that will do for now until I reread and maybe get it later.

We'll just add a bunch a random data, that should make for a clearer picture

fixed.png

On another topic, that Obsidian software for notetaking is really good, last night I was going through the NLA thread and making new topics on the different subjects in there and adding notes and screenshots looking for the 1/3 dot stuff. I found some screenshots on the body is profit, wick is a loss and realised I had it all wrong so now I have a categorised page on that topic.
I always thought it was one candle when people said body in profit etc.
It was two candles....
Anyway I missed it the first time and going back and re-reading things I am picking up so much more now.
Happy days

It feels like I know the Kreslik secret handshake now when someone says "Bodies show the way in profit, wicks in direction of loss"

[Don_xyZ]

I don't get the line chart one, but the MA7 and 19 with a bias I like, that will do for now until I reread and maybe get it later.

We'll just add a bunch a random data, that should make for a clearer picture

fixed.png

LOL, I cheated and added candles the other day and I felt more comfortable with the extra data

It might be that the trading strategy that you are using is not that much compatible with the info provided by dead line chart. A live line chart shows everything exactly like candlestick chart but it only leave one trace of the whole movement during that candle, the closing price. If you need wicks to see pattern (SnD/SR/EW etc.) then line chart might prove difficult. Eventually though, you'll be able to see all of them using only a line chart. Yes. Only a line chart.

I don't get the line chart one, but the MA7 and 19 with a bias I like, that will do for now until I reread and maybe get it later.

We'll just add a bunch a random data, that should make for a clearer picture

fixed.png

On another topic, that Obsidian software for notetaking is really good, last night I was going through the NLA thread and making new topics on the different subjects in there and adding notes and screenshots looking for the 1/3 dot stuff. I found some screenshots on the body is profit, wick is a loss and realised I had it all wrong so now I have a categorised page on that topic.
I always thought it was one candle when people said body in profit etc.
It was two candles....
Anyway I missed it the first time and going back and re-reading things I am picking up so much more now.
Happy days

Didn't I say to read and re-read?

A sage once said if you read 100 times, you'll understand and remember it sharply but if you read 101 times it's gonna be like a god-tier character in games

[Don_xyZ]

Scalping vs Daily Anchor trade vs Regular Anchor trade

AUDUSDM1 naked line.png (25.22 KiB) Viewed 931 times

There is an obvious difference between the 3 of them, the target. I showed many things between my 2 threads and other threads here on Kreslik. But I can group them into 3 and they are very fast, session and multi-days. The fast one is obviously scalping, the session one is the daily anchor trade while multi-days is the regular anchor trade.

There are different setups, as shown in the 1st posts of each thread of mine but even when I use the same setup I will do them a bit differently. Scalping, as many are already familiar with, involves getting in and out as fast as you can, and in my case, this means getting out with anything between 1 full pip to 5 pips or 6 pips. Due to the abundance of trading opportunities, you might get a lot of trades compared to other styles. However, that does not mean you can take all of them coz many of them might not pass the trade grading filters. You gotta have a lot of data for testing to get solid stats and this involves painstaking experiments and hours of hard work. But the theme of scalping is the reliability factor. Because you're not targeting a lot of R, you need to will need to rely on your hit rate. It's kinda hard for me to give my stats on scalping but during the days when I scalp, I usually get anything from 70 to 100% hit rate. It's hard for me to give my stats because I do various other strategies as well.

When I do Daily Anchor trade, my target gets bigger because I target the extreme of the day, and even bigger when I do the Regular Anchor trade because I follow the biggest backbone (for me this is the D1 tf. Adjustments are needed for style I'm using. So even though the technique is the same, the details will differ. If you want to catch a reversal scalp trade you use the same pattern as when you do daily anchor or regular anchor trade and when you trade the continuation, you do the same. Only the details are different. Thus, requires you to pull up some things from your WIL to suit the style. That's why your WIL is very important and you must keep expanding them. I can't emphasize this enough.

Aside from the target, the stop loss, % risk, tf combo, kill zone, might also be adjusted.

[Don_xyZ]

I've always plotted the line chart like this:
you can fit this whole chart in half the space without losing any information:

- two up-pointing wicks: resistance-line from last wick (like the first two bars on the chart).
- op-facing wicks: tradable closing range (like the '1-2-3-4' example)
- two dn-pointing wicks: support-line from last wick

The odd period is always the wick:
- minute 1, 3, 5, 7, . . .
- half the target period, as in minute 15 or 45.

If I want to further 'crush' the chart then I fit three data points into one bar using closing ranges.

PS: I do see the error in my plot. . .I'm not going to redo the whole thing for an example
why_not_this.jpg

Fascinating idea. I see what you mean. Will try to learn it this weekend.

[Don_xyZ]

The forum is again acting like this.

[Don_xyZ]

Then again, it means I'm addicted to posting and reading Kreslik. This is bad

[Don_xyZ]

How would you trade this blank chart?

how about no chart.png (12.46 KiB) Viewed 840 times

Now this is interesting