Hello again
Sorry for the delay in my reply - I've been on holiday and decided to take a complete break and didn't even take my laptop with me
OK, I have found James16 thread useful in my learning process and the daily bars are important in that they give me a bias for my trades. This doesn't mean I won't take trades in the other direction as well but if for example we are bullish I'll mainly be buying on dips on the 5 min charts.
As you rightly say, a lot of my trades are 'gut feeling' trades which you'll only start to appreciate after countless hours staring at charts.
Hope this helps in some small way.
Kind Regards
Steve
Sorry for the delay in my reply - I've been on holiday and decided to take a complete break and didn't even take my laptop with me
OK, I have found James16 thread useful in my learning process and the daily bars are important in that they give me a bias for my trades. This doesn't mean I won't take trades in the other direction as well but if for example we are bullish I'll mainly be buying on dips on the 5 min charts.
As you rightly say, a lot of my trades are 'gut feeling' trades which you'll only start to appreciate after countless hours staring at charts.
Hope this helps in some small way.
Kind Regards
Steve
Dislikedmany thanks for the answer and for the commendation (but i needed to found this word using a online translator).
one question about the price action. Do you use the j16 formations on dayli charts to have the bias and then took retraces and breakouts on 5 min or do you really use IBs, DBHLC etc on 5 min charts?
and the next question is difficult to ask so problably answering is more difficult, but i will try: how do you deal with overtrade X high probability trades? Again, i know that this is very discretionary but i like to see some comments on it if possible.
thanks again Steviet and sorry to ask so many questions.Ignored