ras its a little non conventional but it kinda makes sense if we can identify the supply and demand areas then we can find a could place to enter buying lower than usual and selling higher I quess you can call it trading the wicks
we were crusin along for many months then JUNE came and i had a flat month. So without changing the strategy i went back and examined that month using different tick chart sizes, range bars and time charts. So after spending many hours i just leaned back looking a a 1 minute chart and asked this question. how can i identify when and where buyers and sellers have come into the market and thats when i saw the wicks. so i cranked it down to a 30 second chart which is almost like trading a 133 tick chart so here i am for now
Thanks again Mr D for sharing your insight ... I like the way you said it: "Honing our skills as traders".
I had my sixth live session ... ended with +16 (only 7 trades so my first REAL positive day) ... the beautiful trending market had me seeing waves again and I tried to ride the waves with a combination of bring-to-BE (limited TP) and letting-it-rides (open-ended TP) ... it costs me plenty ... if I used one or the other it would have been a fantastic day ...
I am still digesting Mr D's new ideas and will continue to practice.
It is an inspiration and motivation to see the more experienced traders make it look so easy.
Unis your still putting on a lot of trades I think if you get a handle on what I shared this should reduce the amount of trades you put on but kudos to a positive day
Unis your still putting on a lot of trades I think if you get a handle on what I shared this should reduce the amount of trades you put on but kudos to a positive day
My seventh live trading day and I am too ashamed to show the chart ... I made a huge mess by firstly forgetting to switch off simulation mode so my first trade, which was actually a good one, was of no use to my live account ... and then things went from bad to worse and I pulled the trigger at the weirdest places ... a mental battle of epic proportions ... ending in -62.
I am going to keep on practicing but will trade in simulation mode to spare my account further damage.
My sixth live trading day and I am too ashamed to show the chart ... I made a huge mess by firstly forgetting to switch off simulation mode so my first trade, which was actually a good one, was of no use to my live account ... and then things went from bad to worse and I pulled the trigger at the weirdest places ... a mental battle of epic proportions ... ending in -62. I am going to keep on practicing but will trade in simulation mode to spare my account further damage. A good weekend for everyone.
Ignored
until you see things clearly and have traded sim profitably for a couple of weeks preserve your capitol till then
"So after spending many hours i just leaned back looking a a 1 minute chart and asked this question. how can i identify when and where buyers and sellers have come into the market and thats when i saw the wicks. so i cranked it down to a 30 second chart which is almost like trading a 133 tick chart so here i am for now"
And the next thing you did was share it with everyone with a video, always such a willing helper, you have banked an awful lot of good kharma over the years Harold, long may it comfort you and yours. Hope all is well in your world. Thanks and regards..Paul :-)
