Aliassmith Beats a "Dead Horse"

[prochargedmopar]

Wait, I missed that doji in the middle before break (common occurrence)

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[IgazI]

Let go and let god?
I've been down that road.
I'm holding on to the steering wheel, thank you very much.
LOL

I say the same thing sometimes, "I need a god who can stop missiles; is that you god!?"

[aliassmith]

I keep hearing Dave say take 5 in my head.
Used orderflow
Discount/Premium zones
Take 5

[prochargedmopar]

I keep hearing Dave say take 5 in my head.
Used orderflow
Discount/Premium zones
Take 5

Were these your trades today?

[aliassmith]

I keep hearing Dave say take 5 in my head.
Used orderflow
Discount/Premium zones
Take 5

Were these your trades today?

No, I didn't take all those trades. I am still taking it easy and studying some concepts.

[aliassmith]

So this chart looks fun.

It's a NQ 10Range chart.

Green line over White is long only.
Green line under White is short only.

Long trigger is Red bar, Green bar.
Short trigger is Green bar, Red bar.

Add some order flow/structure context.

Take 5

It seemed strange at first but, it does have structure to it that makes sense.
I'll have to watch in a live market to see how it runs.

[Yirbu]

So this chart looks fun.

It's a NQ 10Range chart.

Green line over White is long only.
Green line under White is short only.

Long trigger is Red bar, Green bar.
Short trigger is Green bar, Red bar.

Add some order flow/structure context.

Take 5

It seemed strange at first but, it does have structure to it that makes sense.
I'll have to watch in a live market to see how it runs.

When I started trading for the first time a trader explained me how he always traded rangebars.
He used the MA's for bias.
Rules were simple SMA20>SMA50 = long only. Price retraces beyond the SMA20 and returns to close beyond the EMA8 was the trigger.
Never was able to make it work because I was just too junior and was always struggling with the rangebars on the platform.

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[IgazI]

When I started trading for the first time a trader explained me how he always traded rangebars.
He used the MA's for bias.
Rules were simple SMA20>SMA50 = long only. Price retraces beyond the SMA20 and returns to close beyond the EMA8 was the trigger.
Never was able to make it work because I was just too junior and was always struggling with the rangebars on the platform.

Tline.jpg

What you will find is that whether you use a tick chart, Renko, P&F, range bar, or any other price-based chart, you are building it based on a target chart period and what you get is something that you have to change based on a specific market and the current market conditions. . .it's a pain in the a++.

We all hate sideways price action, I get it, but if price is 'stuck' at a level then I think that is a critical piece of information; price pooling around an area is how we can tell where price might bounce or to where price might be attracted.

With time-based charts, we know that if we push the button at t-minus something, we will get an entry roughly around the dot on the chart;

I think that most people are waiting for the close of the current candle / the open of a new candle. . .
that's just how our brain is wired.

You can "trade by feels" and take a price, or you can trade a smaller chart and wait for a close/open; a 'good' price at a specific time.

why_time_2.jpg (74.52 KiB) Viewed 2669 times

OPEN PRICES: 20 period MA and open dots:

why_time.jpg (129.39 KiB) Viewed 2669 times

[IgazI]

Dots can be a shock at first, I know, but it is actually really easy once you get used to it. . .

cave_painting.jpg (77.13 KiB) Viewed 2654 times

[aliassmith]

I found this 15 second chart. It must only be noise.
You wouldn't know it was a 15 second chart if I didn't say.
This might be a nice TF to trade NQ when it is in US open time.
Before US 9:30am the 1-minute chart works fine.
The moves get a lot larger after open so this TF will help settle it down and help with precision.
Take 5