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Attachments: Williams%R, SAR X-over 15 minute candles
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Williams%R, SAR X-over 15 minute candles

Hope this helps. As i keep saying, price structure comes first, then risk management, then the system.
Quoting rockypoint
Price just stayed pretty much within the box I drew on first chart, Price structure stayed sideways. There was 1 trade i would've made money on but, i felt no confidence in what charts were showing today, so i passed. Part of the battle in trading is this, relying solely on what indicators are showing is a way to lose. Because every system has false signals. It's ways harder to find reasons not to trade then is is to trade,
Hi there! Thank you for taking the time to share your though process, it helps me immensely to see it in your charts with your explanations.

With my chart, just after the market opened, price started to move down in 1 wave, consolidating then for a bit and other wave after, between my trades 1-3. Then backed up slowly so probably right there I should start to think if price was ranging and just stop taking entries.

I see from your chart that you changed it from 1 min to 1500 ticks and it's a bit more clear to see if it's stuck or moving, but not truly easy because as you say it's difficult to see reasons for not taking entries with lack of experience in that, as it's my case.
Quoting TraderNurse
{quote} Hi there! Thank you for taking the time to share your though process, it helps me immensely to see it in your charts with your explanations. With my chart, just after the market opened, price started to move down in 1 wave, consolidating then for a bit and other wave after, between my trades 1-3. Then backed up slowly so probably right there I should start to think if price was ranging and just stop taking entries. I see from your chart that you changed it from 1 min to 1500 ticks and it's a bit more clear to see if it's stuck or moving,...
If it were that simple to follow 2 simple indicators we would all be millionaires. Learn to read the charts and always choose a direction in which to trade. At least in your case you would have halved your losses.
Watch the highest TFs at least daily or H4 (I almost always only watch Weekly). If you follow the main trend and miss the entry you can always mediate and take the trade home.
Well that that was stupid of me, just looked out of curiosity to see if that would've changed things. It didn't, but just forgot to switch back to 1 min chart.
Just went back and looked at 1 min charts they looked way worse, PA was a choppy mess. Price never breaks initial range.
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Maybe this video can be useful to someone. Even if you are a scalper and are satisfied with a few pips or ticks, always keep the daily in mind. If the chart doesn't convince you, look for some other instrument that day. there are so many

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Kind of slow sloppy PA with a weak downtrend Had trades a loss and 2 good wins. In a fourth trade a bullish divergence which slowly moving my way stop at +5
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Moved stop to +32.
First trade was an entry on a bearish divergence.
Open trade to +35 stop.
Ok 2 more trades and I'm done for the day. Bullish divergence worked out fine. Added a small win after on another small move up.
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Hey pals,

24/09/2024
Trading 9:00am to 10:45am NY.

Reasoning:
Trade 1: Didn't realize the divergence of the price going up, with the rsi going down. Was just waiting fot breaking the consolidation range and entered when had the signal.

Trade 2: Realized good PA going down so waited for a clear signal to ride the wave. Unfortunately price shoot up touching my stop loss.

Trade 3: Price continues to move down, so wanted to try and ride the next wave. I enter at the signal, decided to close it because of the bar form and price not pushing hard to go down. Next candle price reversed, so lucky one.

Trade 4: Noticed change of trend, good entry, but closed it too early as I needed to go out for some errands.

Conclusión: Overall more happy than yesterday, I think were more able to avoid choppy sections, having good PA helped a lot, and 2 of the most profitable entries coincide with RP ones, and that makes me so happy haha!. But of course, he catched many more that are good ones and know how to ride them better! True legend

Hugs!
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Hi RP, I am practicing a demo account of your strategy and I have a question about the RSI.

Is it a RSI 10 and is it accompanied by a moving average of 3?

I analyze my charts in TradingView and I have doubt about the values to set it.

Thank you very much for this thread, I am learning a lot.
Quoting fream1
Hi RP, I am practicing a demo account of your strategy and I have a question about the RSI. Is it a RSI 10 and is it accompanied by a moving average of 3? I analyze my charts in TradingView and I have doubt about the values to set it. Thank you very much for this thread, I am learning a lot.
RSI on Ninja trader has a smoothing period of 3.
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Another non trading day. Lousy PA and a tight range.
Another sloppy PA day but somewhat better than yesterday. 4 trades 3 small wins and a loss. PA looks to be getting worse, we'll see what happens.
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Took another trade best of the day. Probably done for the day.
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Wound up taking 1 more trade, another small win. A weak bullish divergence, now definitely done for the day. May not trade tomorrow, depends on when my wife gets up. Heading to Phoenix, her lease is up time for a change.
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Generally crappy PA week continues, a few small trades with 1 ok win and one trade still open with stop at B/E. I'm done after I close that one. Heading out a 11 for Phoenix.
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Tried to get out for +20 didn't quite make it, too slow. I'm done great weekend to all.
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Quoting rockypoint
Tried to get out for +20 didn't quite make it, too slow. I'm done great weekend to all. {image}
All the bset. Thanks for ideas
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