Just my thoughts,
-- Danny
Where can I learn more about Price Action like those in James16 charts? 9 replies
How many years will it take to be financially independent?
DislikedI always hear the seniors speak about slowly growing an account and the power of compounding. James talks about having a large account and being picky.
Well, I'm a numbers guy and I sometimes need to see what that means. I created a spreadsheet to answer the universal question:
How many years will it take to be financially independent?
Example: Let's say I can average a 3% return every month consistently with an account of $60k. It will take me almost 3 years to achieve my monthly goal of $5k income...Ignored
DislikedOverall sideways market.Last month IPB.Last week buob.Yesterday dblhc,witch closed above small consolidation between 50-61.8 fibb.Target 0.99 BRN.Ignored
DislikedI always hear the seniors speak about slowly growing an account and the power of compounding. James talks about having a large account and being picky.
Well, I'm a numbers guy and I sometimes need to see what that means. I created a spreadsheet to answer the universal question:
How many years will it take to be financially independent?
Example: Let's say I can average a 3% return every month consistently with an account of $60k. It will take me almost 3 years to achieve my monthly goal of $5k income every...Ignored
DislikedI'm pretty gutted though that on a $2,000 investment at 12% profit per month it would take 6 years to earn $1,000,000 per month.
Very disappointingIgnored
Disliked
Michael, you know if you had a $1,000,000 account, it would only take 1.6 years.Ignored
DislikedWould love to hear from some of the "gurus" on this:
ghous, SC, mbqb, jarroo...
I mark S/R levels day in and day out (I'm a smaller timeframe guy and watch about 20 or so pairs) and only mark the real obvious ones, usually obvious swing highs/lows. Interestingly, these become what everyone here calls PPZ's . Or, it is just another swing confirming an established PPZ.
Here's what's driving me nuts. I see price take nice bounces from my levels VERY FREQUENTLY and ACCURATELY but don't see PA to validate entering into a trade. (in the same timeframe...Ignored