Good morning guys...
Fibonacci and sentiment. What follows is only my opinion. The reason why the Fibs work is because people are using them on their screens nothing more. I mean is there really a bookie out there plotting fibs on his books? No he moves the market to where the most orders are. Why? This is how he makes money COMMISSIONS.
As far as longer time frames I can't help but think I ALREADY TYPED THIS. I am trying to move away from that.
I believe that the same mechanics that are active on a daily chart are active on a 5min chart even if it is riddled with noise. I honestly believe that these smaller time frames are like proving grounds which will very quickly show up system weaknesses. I am not trying to design anything that is artistic or relative to the operator. I am trying to design something that can be explained to the average Joe.
I am beginning to feel the cold reception that someone else was alluding to earlier which is what deterred me from posting before, I mean honestly I don't want this thread to get riddled with the usual dribble. In other words let's keep this informational to benefit the people that might read it.
I have had a look at No Brainer Trades and enjoyed it.
Anyone else have any ideas??
What about S&R? Are there any Rules, Filters, or ideas that are completely mechanical and indicator-less that have made the difference in your trading?
Fibonacci and sentiment. What follows is only my opinion. The reason why the Fibs work is because people are using them on their screens nothing more. I mean is there really a bookie out there plotting fibs on his books? No he moves the market to where the most orders are. Why? This is how he makes money COMMISSIONS.
As far as longer time frames I can't help but think I ALREADY TYPED THIS. I am trying to move away from that.
I believe that the same mechanics that are active on a daily chart are active on a 5min chart even if it is riddled with noise. I honestly believe that these smaller time frames are like proving grounds which will very quickly show up system weaknesses. I am not trying to design anything that is artistic or relative to the operator. I am trying to design something that can be explained to the average Joe.
I am beginning to feel the cold reception that someone else was alluding to earlier which is what deterred me from posting before, I mean honestly I don't want this thread to get riddled with the usual dribble. In other words let's keep this informational to benefit the people that might read it.
I have had a look at No Brainer Trades and enjoyed it.
Anyone else have any ideas??
What about S&R? Are there any Rules, Filters, or ideas that are completely mechanical and indicator-less that have made the difference in your trading?