trueblueTEX wrote:MO, do you still use Trend-Setter and Price-Purifier? Do you still think they are useful? I'm rereading the Trend-Setter thread for about the 4th time.
They are useful for seeing massive amounts of information on one chart & telling where you are in the big picture.
For 2013, I want massive account gains to be as close to mindless as possible to avoid another 4 years of charting 101.
This is my personal 2013 setup:
The weekly+ chart IS your trade chart.
Your stop IS your ENTRY into the WEEKLY+ chart.
The main reason for choosing a smaller chart, to execute your trades, is the survivability of your initial Space; the one with 'YOUR' money in it
The second factor is the speed at which you can safely (w/out moving your position closer) accumulate lots before the weekly expansion/trend.
Our tools are:
Line chart w/ range (price bars)
Horizontal line: Is price generally higher or lower than 'something'
Small Chart 1-2-3's: as with Horiz., can be used as triggers.
Large Chart 1-2-3's: mainly a fail-safe consideration to keep you trading in the right direction.
Point to Extreme Trendlines:
Channels, angle reuse, steep breaks:
Position: our prime location cattle ranch.
Space: our land =)
Lot Size: our cattle... MOO-ney
-Position, accumulate, expansion, distribute (liquidation).
-Seek to be creative with how you use your Space and your skill will grow
-I no longer consider closing prices (to avoid shifts).