Good Evening FOTO: again thanks for your input( don't know about other viewers; but I get some serious viewpoints to ponder & maybe modify my trading strategies).
I agree that "finding a TF that works" is a key for successful trading. I find it useful to have a methodolgy for "said" TF.
To relax, I like to check for "scalp" probabilities on the 5M during Asia ( less volatility & lower likelihood that Asia will break prev day's high/low)
I do not think (please do not use the preceding as a quote out of context) that PA action is random. Certain central banks have a perception of where they want their currency to be & on occasion intervene wrt PA; the huge commercials certainly have a vested interest in where $ will be @ a future time reference.I feel that this is a purpose & thus; not random. It behooves the "bottom feeders" (a distinction that I proudly cast myself in) to try to discern in which direction they see $ to go! Random action is comparable to when I play "snooker" & take a shot. Where those balls end up is random (i.e. left to chance). The skilled player has perception & purpose to his shot. To me; this determines mkt action.
I agree that "finding a TF that works" is a key for successful trading. I find it useful to have a methodolgy for "said" TF.
To relax, I like to check for "scalp" probabilities on the 5M during Asia ( less volatility & lower likelihood that Asia will break prev day's high/low)
I do not think (please do not use the preceding as a quote out of context) that PA action is random. Certain central banks have a perception of where they want their currency to be & on occasion intervene wrt PA; the huge commercials certainly have a vested interest in where $ will be @ a future time reference.I feel that this is a purpose & thus; not random. It behooves the "bottom feeders" (a distinction that I proudly cast myself in) to try to discern in which direction they see $ to go! Random action is comparable to when I play "snooker" & take a shot. Where those balls end up is random (i.e. left to chance). The skilled player has perception & purpose to his shot. To me; this determines mkt action.