The ideas that I trade by:

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Braathen
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Re: The ideas that I trade by:

Postby Braathen » Wed Jun 01, 2016 6:05 pm

Ok i get it now. Thanks :D
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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Braathen
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Re: The ideas that I trade by:

Postby Braathen » Thu Jun 02, 2016 9:40 am

The PnF charts i have posted so far have been made from 16's on a 4H chart BUT! hehe

I do it like this.. price makes 4 lower points, within the same 4H candle it reverses 2 points, i then mark a new colum with
a higher point. Witch kind of defeats the purpose of using a 4H when i think about it :P

But you wait for it to close in a 2 points+ area before you mark the reversal?
"Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking."
MO-

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jun 02, 2016 12:46 pm

Braathen wrote:...

But you wait for it to close in a 2 points+ area before you mark the reversal?


Below is a detailed explanation :)

Each 'x' is the price above it and the price below it: the points are the 'areas' that price traveled through to reach the point:
-----above----reverse
X
-----below----above
X X
-----reverse--below
It looks like a regular P&F chart but it is much different.

The chart is plotted as a 1-box reversal chart but it is really a 2 line reversal chart.

Remember when TRO would wait for an hour candle to open within a space and trade in the direction that price crossed a horizontal line? Well that is similar to what we are doing here only now, instead of a bar chart, we are using a simplified history of how price moved through the lines.

If an up column:
1) check to see if the high can make new points
2) check to see if the low can make new points
3) check to see if the close can make a reversal column

TRYJPYH4.png
TRYJPYH4.png (49.83 KiB) Viewed 361 times


PS: it is a good idea to buy a large format printer if you are going to be marking charts by hand...
print off some freekin scrolls, man :P, and never run out of room.

Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Thu Jun 02, 2016 2:04 pm

Holding short after the failure up top. I will play P&F with you guys soon - busy coding and trying to keep manual trade plan on track.
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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jun 02, 2016 2:25 pm

Sacrophage wrote:Holding short after the failure up top. I will play P&F with you guys soon - busy coding and trying to keep manual trade plan on track.


Well done.

I just want to point out some things that jump out at me when I look at that chart:

PS: remember that this is art class, there is no right or wrong.

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TheRumpledOne
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Re: The ideas that I trade by:

Postby TheRumpledOne » Thu Jun 02, 2016 2:39 pm

GBPUSDH1.png
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EURUSDDaily.png
EURUSDDaily.png (82.38 KiB) Viewed 459 times


I like to PAINT BY NUMBERS :lol:
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jun 02, 2016 3:00 pm

TheRumpledOne wrote:
I like to PAINT BY NUMBERS :lol:



Sacrophage
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Re: The ideas that I trade by:

Postby Sacrophage » Thu Jun 02, 2016 3:40 pm

And then the Daily... could become a nice short if she breaks... I don't like the dueling wicks from yesterday/today (cue banjo music), but perhaps that is the point - shake 'em out before the move. Will see - pulled half off. Looking to add in all the right places (cue Dolly Parton).
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thepark
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Re: The ideas that I trade by:

Postby thepark » Thu Jun 02, 2016 4:00 pm

learn by practicing. consistency is key

i have been thinking that entering at the bottom of a cone is a lower risk trade than at the cone breakouts because it could be "overbought" or "continue"

i will try to enter at the bottom of the cone for longs (extremes) as much as possible and vice versa.

Image

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MightyOne
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Re: The ideas that I trade by:

Postby MightyOne » Thu Jun 02, 2016 5:12 pm

Which chart better describes the price action? Bar chart or High/Low+Close PNF?

freestockcharts_com_FB_PNF.png
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