MightyOne wrote: You will do well if you understand that it is only the momo at the high and low pivots that matter.
Of what time frame are you referring? If you mean for whatever time frame you are looking at? Then that's fine. Just looking for clarification.
MightyOne wrote: After you spot the momo you are simply trading trading away from a line.
Wha wha waht line?
Any line in the zone &, if you are trading daily momo, the daily highs after momo is also a great place to start.
Again, I think most people looking at the 100's of examples posted in this thread understand this point thoroughly by now. If not, they should stop here, and start over until they at least get that part.
MightyOne wrote: That mid trend momentum trading is usually a mistake as it is often a great place to liquidate a large position when traders that missed the move are desperate to get in.
Okay, that sounds helpful. However, trend is relative to time... are you speaking in general? Or implying a specific time frame (i.e. daily)?
MightyOne wrote: Daily, weekly, monthly, & yearly charts are the charts that I look at.
Yes, I think you have mentioned that you usually look at higher time frames. My original question about picking out the contraditions from time frames would still hold true in this case. We understand that higher time frames are in control, but when, if ever, would you consider taking a trade based off of something you see on a relatively smaller time frame?
MightyOne wrote: Find momentum and drop down to a small time frame chart, but do not forget that what you are doing is trading the high time frame.
Okay, that is helpful. Again, I think most people should be familiar with this concept as it has been described, illustrated and discussed many times already through this thread.
MightyOne wrote: Exit prior to a reversal if you sense one and enter at a better price.
Exit once or twice because thrice will miss the move.
I'm with you on this one. What do you usually see that signals a reversal to you? 1 bar close over 3 previous... as an example? I know there are lots of ways to pick up reversals, just curious if you care to share more.
Also, you would only re-enter twice on a move? Why not 3 if the price keeps giving entries? Is one just being too greedy at such point?
MightyOne wrote: There are only 2 extremes and price will move a hundred or hundreds of pips from either one.
Again, extremes are relative. Are you referring to something specific (i.e. daily) or something else I'm not understanding?
MightyOne wrote: You have a 50/50 shot or better at a 50% gain.
Just do it!
That's what I'm here for.
Many thanks