Consider the following Thread to be a "philosophical rambling" going on in my head. As everybody else here, I have been perfecting my trading and this has taken me definitley into the direction of "Clutterless-Charts-in-KISS-modus" - Candles and 00 0000 Levels....(Jacko!).
Since there is so much Uncertainity in the Markets and the little voices in our minds demand Certainity > the 100%-surefire-Trade, i have come up with things that are absolutely 100%-certain about Price. My Trading method has to include these Facts (a seldom word in relation with Trading)
100%-Certainity (see attached File):
1. I know the High-Low points of the Previous Candle (be it 5 Min,...Day, Week, Month) This is certain! Fact.
2. I know the Open-Price. Fact.
3. This one is more difficult to classify as 100% > I know that there will be a Range (Price movement) around the Open. I don't know how much Price points and if they will be above or under that Open Price point...there might be once in a while a "Harami cross" > Close=Open, but nonetheless 99% of Days will have a certain movement "around" the Open Price. This is a fact.
4. Prices will have to break Highs or Lows to show movement...I just don't know how much.
This is me rambling and clearing my mind. This is pretty basic stuff, but I had to write it down to keep this clearly as I trade....
Trading methods around these Facts....
Since there is so much Uncertainity in the Markets and the little voices in our minds demand Certainity > the 100%-surefire-Trade, i have come up with things that are absolutely 100%-certain about Price. My Trading method has to include these Facts (a seldom word in relation with Trading)
100%-Certainity (see attached File):
1. I know the High-Low points of the Previous Candle (be it 5 Min,...Day, Week, Month) This is certain! Fact.
2. I know the Open-Price. Fact.
3. This one is more difficult to classify as 100% > I know that there will be a Range (Price movement) around the Open. I don't know how much Price points and if they will be above or under that Open Price point...there might be once in a while a "Harami cross" > Close=Open, but nonetheless 99% of Days will have a certain movement "around" the Open Price. This is a fact.
4. Prices will have to break Highs or Lows to show movement...I just don't know how much.
This is me rambling and clearing my mind. This is pretty basic stuff, but I had to write it down to keep this clearly as I trade....
Trading methods around these Facts....