Three Charts

[prochargedmopar]

This is a thing I am struggling with - I see both.

What do you see or, more importantly, what are you writing down?

Even I do not know what will happen next, I can highly suspect this or that but I must trade what I see; be it on the charts or a construct of my imagination.

It is good to ask questions and poke a stick at the limits of your understanding, but it is not good to get hung up one things that are not important.

Trading is mostly the stability of your mind, position sizing, & money management.
Trading is the ability to see & to plan & to act; it is not crystal balls, precision entries, and ego stroking.

Ideas & action, not rules and confirmation or, as the guy in the YouTube video says, "trade it, don't date it".

for_jrtrading.png

The difficulty I have with this concept is:
There is always a higher timeframe.
Being this is true I MIGHT take one trade a decade.

[MightyOne]

The difficulty I have with this concept is:
There is always a higher timeframe.
Being this is true I MIGHT take one trade a decade.

There will always be a larger chart, but what is YOUR largest chart?

No matter which chart that I am looking at, price cannot rise on wicks neither can it fall without closing lower.
I am not saying that if price plants a green candle over something that the market will continue to rally, I am saying that you will never see a longer term rally in which there were no green candles closing higher.

There is only one highest high and lowest low and price will move many pips from one or the other.
If price is above the midpoint it is going up and if it is below the midpoint then it is going down.
Price moves to new highs, price reverses from new highs...

All of these things are obvious, they require no study and you do not have to practice them.

All of these things must happen and if you perservere then you will profit when it comes to pass...
or as Ken Roberts used to say, "if you are in the market [when it moves] then you make money and if you are not then you don't make money..."

[TheRumpledOne]

The difficulty I have with this concept is:
There is always a higher timeframe.
Being this is true I MIGHT take one trade a decade.

There will always be a larger chart, but what is YOUR largest chart?

No matter which chart that I am looking at, price cannot rise on wicks neither can it fall without closing lower.
I am not saying that if price plants a green candle over something that the market will continue to rally, I am saying that you will never see a longer term rally in which there were no green candles closing higher.

There is only one highest high and lowest low and price will move many pips from one or the other.
If price is above the midpoint it is going up and if it is below the midpoint then it is going down.
Price moves to new highs, price reverses from new highs...

All of these things are obvious, they require no study and you do not have to practice them.

All of these things must happen and if you perservere then you will profit when it comes to pass...
or as Ken Roberts used to say, "if you are in the market [when it moves] then you make money and if you are not then you don't make money..."

Good ones, MO!!

[prochargedmopar]

For those interested, a Youtube-video
I found very inspiring:
Made $1.2 million in two days trading /ES

Music warning

2 days to make 1 mil,
Only a few minutes to lose another mil:

[v8power]

Where did you go buddy?

[jrtrading]

Where did you go buddy?

Hi v8power,

I felt a need to be alone with my thoughts for some reason,
that is why I stopped posting. On many of the questions I have been thinking of asking,
but not dared to, after reflection, must come from within through practice.

So that is what I do now, practice accumulation every day as time permits.
I managed to get a year off work from July 1st to be as serious as possible
when doing this, since it can be difficult to combine with work.

I hope to graduate from university in a few months and then will be able to
practice full time.

Thanks for you interest.

[v8power]

Where did you go buddy?

Hi v8power,

I felt a need to be alone with my thoughts for some reason,
that is why I stopped posting. On many of the questions I have been thinking of asking,
but not dared to, after reflection, must come from within through practice.

So that is what I do now, practice accumulation every day as time permits.
I managed to get a year off work from July 1st to be as serious as possible
when doing this, since it can be difficult to combine with work.

I hope to graduate from university in a few months and then will be able to
practice full time.

Thanks for you interest.

That is pricesly info right there. Being alone with your thoughts and asking questions is what will make the difference. I do that all the time and will read some article that I had read a 100 times before but it final clicks with something MO or TRO has said that fell on deaf ears.

Flipping awesome that you got work off for a year, that is awesome. Also awesome on graduating. Sounds like everything is falling in place for ya.

And like I have said before. I don't think its trading analysis that is stopping you from being profitable, its physcological(sp). I know and respect that you are taking time to be alone, but I will offer 1 idea/suggestion. Record a whole week of your trading. Post it or share it with at least one person. Also share your trading plan, so they can see if you followed it. Also expain all the trades and see if it matches up with your trading idea's. Also examine your beliefs on what it means to be a profitable trader and what you can make a living off of. Is it 20% a year, 1% a day, 100% a month or 1-3 zeros in a year. I could make a monkey profitable just by following basic trade idea;s, good MM, patience, consistency and displince (most traders never master the last 3).

Also don't be afraid to ask dumb questions or post a jacked up chart. I do it all the time (hell Im bugging MO after this post about something stupid). If you need anything just ask. Also either staring this week or next I should be in the chat room from Asia to US lunch, so feel free to join me. Goodluck

[jrtrading]

Thanks for your reply, v8power, appreciate it.

[jrtrading]

I was looking at a chart v8power posted just now of GBP/JPY,
and marked up some thoughts on how I could have traded it.
I think this should also be in line with MightyOnes ideas around space and past/present/future.
(I used terms from the Space Wars thread though)

GBPJPY.png

[v8power]

I was looking at a chart v8power posted just now of GBP/JPY,
and marked up some thoughts on how I could have traded it.
I think this should also be in line with MightyOnes ideas around space and past/present/future.
(I used terms from the Space Wars thread though)

GBPJPY.png

gbpjpy-m15-noble-services-ltd.png (35.12 KiB) Viewed 4140 times

gbpjpy-h1-noble-services-ltd.png (36.14 KiB) Viewed 4140 times