The Bucking Bronco | Page 106 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Bronco Capital's ABCD Harmonic Pattern Journal 94 replies

Attachments: The Bucking Bronco
Exit Attachments

The Bucking Bronco

  • #2,101
  • Edited 2:16am Aug 4, 2019 1:34am | Edited 2:16am
Quoting Jupiter
This is why I kill myself trying to learn how to read a chart as best as possible.
Dedicated to all the people who criticise my way of charting and trading.
This is just one page from Edwards and Magee.
I'm simply trying to apply their lessons.
Attached Image (click to enlarge)
Click to Enlarge Name: Edwards and Magee p567.JPG Size: 110 KB
  • #2,102
  • Edited 11:34am Aug 4, 2019 1:36am | Edited 11:34am
@all the readers of these humble pages.
Listen to me... Do a favour to yourself.
Stop trading, stop reading FF and study something good for your education.
The minimum requirement is this.
Remember: knowledge is power.

Technical Analysis ... It has many flaws and it is difficult to learn. It is subject to human error and bias and so often falls on its face.
Nevertheless, Technical Analysis can be extremely useful to traders wanting to profit from timing and trend riding while limiting risk.
Attached Image
  • #2,103
  • Aug 6, 2019 12:50am Aug 6, 2019 12:50am
For the diligent students.

D1: the absolute balance of the 3 Patterns and the Line of Fire are perfectly visible through the correct analysis.
This 11.500 down move perfectly completes the evolution of the Form on the major chart.
A re-equilibrium phase has ended.

Brett Steenbarger:
"Greatness arises from the continuous posing and surmounting of great challenges.
Accomplishment becomes automatic—a natural part of the self —
when the repetition of a limited set of core skills becomes an ongoing part of one’s daily routine."
  • #2,104
  • Aug 6, 2019 1:44am Aug 6, 2019 1:44am
Quoting Jupiter
@all the readers of these humble pages. Listen to me... Do a favour to yourself. Stop trading, stop reading FF and study something good for your education. The minimum requirement is this. Remember: knowledge is power. Technical Analysis ... It has many flaws and it is difficult to learn. It is subject to human error and bias and so often falls on its face. Nevertheless, Technical Analysis can be extremely useful to traders wanting to profit from timing and trend riding while limiting risk. {image}
I have Steve's candlestick patterns, but not the technical analysis book on the left. I confess I have a 60s red wingback chair by my bookshelf by a window and i do like to sit and flick through the candlestick text. After a few reads theres a simplicity and comfort in the pages ( that does not often translate to trading !!!). It was a bit pricey I think, $70 (aus) but I consider it one of my best TA books. I will investigate the other.
For me so far with my evolution as a trader, I would consider TA combined IMPLICITLY with time of day ( I trade 9-12 AEST and not before nor after) as well as patience and understanding of how price can take it's time to move between levels, as my core skills when I trade really well. Take away any of those 3 elements and I tend to trade poorly. I trade UJ Asian, though today I smashed an EU short (TP too early but happy), simply didn't want to buy into the UJ hole today.
Cheers h
  • #2,105
  • Edited 3:39am Aug 6, 2019 2:12am | Edited 3:39am
Quoting hellsbells
I have a 60s red wingback chair by my bookshelf by a window and i do like to sit and flick through the candlestick text.
Steve Nison's Triad. Trading is like a three-legged stool. Again: I'm simply trying to follow his lesson.
Attached Image
  • #2,106
  • Aug 6, 2019 4:17am Aug 6, 2019 4:17am
Apologies for stepping into your journal again but I just realised that I said I was comfortable shorting EU in Asian session even though EU was burning bright, though very uncomfortable buying UJ though UJ had tanked . The answer is I expected EU being off peak (So to speak) during Asian session was far more likely to retrace than UJ on peak(during Asian session). As it is if I had stayed strong shorting EU , and longing UJ, I could've absolutely smashed it out of the park. I concentrate on 1 pair at a time, picked EU and concentrated on it. This may or may not make sense to your readers...
  • #2,107
  • Aug 6, 2019 4:33am Aug 6, 2019 4:33am
Quoting hellsbells
Apologies for stepping into your journal again but ...
There is no need to apologize. It's just a great pleasure. Write with serenity. Contribute and share your thoughts without problems.
  • #2,108
  • Aug 6, 2019 5:49pm Aug 6, 2019 5:49pm
Thanks Franco for sharing with us your journey and how you look at things. The journey to forex is a lonely exploration for individuals with too many contradictory information. Everyone has their own demons to deal with. At times it’s frustrating. Some will turn on themselves and others because of this. To me, It’s enlightening to see someone sharing their thought process. I don’t have much to share in term of trading wisdom but I do know a couple of songs that are good. Hope you enjoy it too.

https://m.youtube.com/watch?v=ZmKMMCFy8hY
The spark that starts the bonfire
  • #2,109
  • Aug 6, 2019 11:03pm Aug 6, 2019 11:03pm
Quoting Mystrogan
Thanks Franco for sharing with us your journey and how you look at things...
I immediately went to search for an acoustic version... (I love all the eastern music: ancient, classical or modern pop)
Inserted Video
  • #2,110
  • Edited 1:00am Aug 7, 2019 12:48am | Edited 1:00am
Quoting Mystrogan
... too many contradictory information...
That's the major trouble.
Be careful about what you let to get in your mind.
The effect is guaranteed.
"Garbage in, garbage out."
  • #2,111
  • Edited 5:18am Aug 7, 2019 2:03am | Edited 5:18am
About Brexit - 1
Fantastic advertising campaign.
Attached Image
  • #2,112
  • Aug 7, 2019 2:04am Aug 7, 2019 2:04am
About Brexit - 2
Sophisticated message.
Attached Image
  • #2,113
  • Aug 7, 2019 2:09am Aug 7, 2019 2:09am
About Brexit - 3
Dancing on the Titanic?
Inserted Video
  • #2,114
  • Aug 7, 2019 2:11am Aug 7, 2019 2:11am
Brexit - 4
Together Forever?
Inserted Video
  • #2,115
  • Aug 7, 2019 2:22am Aug 7, 2019 2:22am
About Brexit - 5
Craziness. Folly. Foolishness.
An Irish Bookmaker was airing this...
What the heck is going on?
Inserted Video
  • #2,116
  • Aug 7, 2019 2:24am Aug 7, 2019 2:24am
Quoting Jupiter
I know all my demons/scorpions. Every day I fight to respect my Rules.
Am I being deluded ?
Or is it a matter of difference between individual to individual ?
Or have I not yet reached a level of understanding to face the conflict ?

But I think once I have a solid rule (yes once again you're right! solid BUT flexible never rigid get the concept right) develop trust in the rule and confidence in myself to identify variations I'm just going to follow its lead no matter what - don't I have any scorpions? is it even possible ? or could it be specific to your trading method, I'm leaning more and more towards setup trading but its not so clean cut or simple - there's always going to be variations - I see it everyday and I accept that its not going to be systematic.

After getting the concept right - it's really an ART to identify them in live action but no matter how many times you look at it and from gazillion different points of view you can never be 100% sure until market proves you're right even after the confirmation.

I realize that your approach is way more comprehensive than what I am leaning more and more towards (I still do like to at least understand and see things from your point of view maybe not necessarily trade it) to not deal with any conflict (sometimes some serious conflict) - like a true virtuoso maybe I'm not meant to be but to play a single tune in all its variations.

I'm thinking out loud
...
  • #2,117
  • Aug 7, 2019 2:28am Aug 7, 2019 2:28am
Quoting Piquant
.. you can never be 100% sure until market proves you're right even after the confirmation...
That's point.
The measure of all.
The essence of the matter.
"How to manage the uncertainty."
"I'm always wrong until Market tells me that I'm right!"... and so? What about the consequences?

(... starting from the postulate that that set-up - what you think is a set-up - is really a set-up!)
  • #2,118
  • Aug 7, 2019 2:41am Aug 7, 2019 2:41am
The uncertainty can become so overwhelming at times
No matter how hard you try to make your judgement/rule/entry as close to perfection as possible
It will prevail

Did you get in at the right time ?
Did you see the pattern/setup right as everyone else ?
what about other confluences that you're not taking into account for ?
what if they're going against my position ?

I think after the entry with confirmation - it really depends on your approach if you were right or wrong by Market but the general rule of thumb for me and I think it could be applied for the vast majority of approaches is once your entry is validated and with an SL placed above/below a significant level , price should NOT close beyond that significant level until the exit pattern signals.
...
  • #2,119
  • Aug 7, 2019 2:45am Aug 7, 2019 2:45am
Right! All the dilemma is inside these concepts.
These are the ideas that must remain fixed. Solid. Immovable and unshakeable like mountains.
  • #2,120
  • Aug 7, 2019 2:51am Aug 7, 2019 2:51am
Quoting Jupiter
{quote} (... starting from the postulate that that set-up - what you think is a set-up - is really a set-up!)
Since I can't see beyond the setup that could very well be a set-up!
But I can only deal within my domain/universe - it seems to be my strongest point to find similar images in a sea full of chaos (chaos not truly a chaos) rather than dealing with the bigger picture as you do (at least for now)
...
0 traders viewing now