I have spent some time on Tradingview just so I could basket trade with the USDollar Index. Im amazed at how many traders Blow out there screens with junk. All kinds of indicators. Charts are just a reflection of criteria set by wall street to draw price. How many have really thought about that?
Really thought about that? My point being in complete agreement with TRO's Philosophy when it comes to trading. A Line. Pure and simple.
I have found my own calculation based on price to give me my lines. Entry without a doubt is at these lines. What makes my lines? I wont disclose that but believe me there are thousands of ways to come up with working lines. Mine is not the only way. These lines have nothing to do with a time chart. The calculation works on any chart. Why? Because its a predetermined way of placing them.
In the pics, only 3 entries and 2 exits on the 1st chart. My manual trading chart. 48 points ($20 a point). WTH?? How many points does one need in an hour?
Its not hard to figure out that I exit when I get an inner bar. I dont have a calculated line for exits. Just entries.
The second chart is a bot trading the same lines on steroids due to it efficiencies that I dont have manually trading it. Again 3 points at a time. In an hour!
My main reason for posting this is due to emails I still get about trading. It intrigues me for some reason to see some traders still struggling that have done the time here on Kreslik and still flounder. I hope this encourages them to think more freely, simplistically. To echo TRO, again, its about a line. Using Tro's Line methodology or whatever, I encourage traders to look at a chart, place a line, and really look at it...... Its all you need.....you will be amazed at what can happen.
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"