Yummy !{image}
- #1,621
- May 14, 2020 12:25pm May 14, 2020 12:25pm
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
- #1,622
- May 14, 2020 12:28pm May 14, 2020 12:28pm
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
A useful reminder of why we use the channel in relation to the SMA instead of the price in relation to the SMA.
Price pierced the SMA numerous times but the channel (especially significant is the bottom band in a downtrend) stayed below.
- #1,624
- May 14, 2020 2:00pm May 14, 2020 2:00pm
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
trendline helps not to exit earlier! thanks again, Laura! {image}
Your original trendline is fine but, once price starts going up and making new lows, draw new trendlines (at a steeper angle) to reflect the increasing momentum. Some people call them speedlines and they are useful for being alerted to a weakening of momentum.
- #1,626
- May 14, 2020 3:28pm May 14, 2020 3:28pm
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Laura, Thanks for this thread. Have seen several that never actually pass the test, or are so complicated would be easier to split an atom than learn the system. Started first paper trading: Broken down into two halves of time. 1st half: Success rate ~ 25%: Go back, read and re-read, and keep reading new posts and examples. 2nd half: Success rate ~ 70%: Learning to see and follow rules with precision. Today was first day of live money: Here is what I have learned, applied with real money. For some reason, I cannot get my computer/system to post...
Your analysis and timing were spot on.
Also interesting to read what you say about initial success rate compared to more recently. I've said to others, although the roadmap is relatively simple, it's not simplistic. There are a lot of nuances at play which take some time to learn.
Well done - look forward to further posts from you.
- #1,629
- May 14, 2020 4:55pm May 14, 2020 4:55pm
- Joined Jul 2011 | Status: Gold Again | 10,657 Posts
{quote} I wish you would abstain from poking your nose in to state the obvious. People like me are technophobic so I rely on the generosity of helpful and knowledgeable people like TheG-lover ( and others) to rescue me from my 'techie hell.'
MAY THE TREND BE WITH YOU
{quote} For some reason, I cannot get my computer/system to post an image directly (even using CTRL V, etc) So have to upload a link Use ''Print Screen'' and go to Downloads > Screenshots Copy to Desk Top. Edit if needs be. Upload to FF.
But here was an all day trade I had today....from breakfast till after dinner
step wise what I was seeing, thinking, doing as best as I can show it...
I use these for my trading journal, has really helped with "learning to think and see"
Only two trades for me today....this working from home quarantine is good and bad
- #1,632
- May 14, 2020 8:38pm May 14, 2020 8:38pm
- Joined Oct 2015 | Status: Trader | 18,269 Posts
{quote} Lemercenaire, could not make that work, but thanks for the support...will have to do more research on my end....sorry gang.. But here was an all day trade I had today....from breakfast till after dinner step wise what I was seeing, thinking, doing as best as I can show it... I use these for my trading journal, has really helped with "learning to think and see" Only two trades for me today....this working from home quarantine is good and bad {image} {image} {image} {image} {image} {image}
Edit: Ah! Just saw your updated post! Good stuff.
{quote} Lemercenaire, could not make that work, but thanks for the support...will have to do more research on my end....sorry gang.. But here was an all day trade I had today....from breakfast till after dinner step wise what I was seeing, thinking, doing as best as I can show it... I use these for my trading journal, has really helped with "learning to think and see" Only two trades for me today....this working from home quarantine is good and bad {image} {image} {image} {image} {image} {image}
- #1,640
- May 15, 2020 3:47am May 15, 2020 3:47am
- Joined Apr 2020 | Status: Daylight Roadmapper | 1,371 Posts
Hello Laura and fellow traders, I am getting the hang of this system and decided to try the hight TFs , no patience and no time to manage lower TFs. Could you please advice on my short trade below, I entered on yesterday on the piercing of upper band on a D1 chart and it seems like its working my way now, however the price dint move much during the day and right now the price is approaching previous-day-low, what do you suggest me to do , I want to scale out 50 % and continue holding with a view that the price breaks the previous day low and it...
As Karun says, there is no valid short while channel is above SMA.