ooo, looks like Edge is in one of those moods again. He will probably calm down later in the day, as he has in the past.
There are two methods here, both based on the same concept - PA. But aren't most methods based on that? I have seen 4H methods that have as a part of their method - look at what the price is doing at the daily pivot, etc. All decent methods are based on the same thing.
Taking the MM out of the equation with trading Nitro, lets just have alook at renko charts. It takes quite some time to get used to them, esp after one has spent their entire trading career looking at candle/line/bar charts. As humans, we need relativity. In trading the relativity to price is time - how long did it take price to go from x to y. That is what candle sticks provide, up/down in a specified time. I once read about a study that looked in detail how long it takes for the human mind to learn something new such that it becomes second nature- 3mths. Full 90 days. Obv there will be exceptions, some less some more. But working on the 90 days scenario, we have only been looking at renko charts for about 20days or so. So, as humans we have some time to go. Just have a look at a line chart set to price close, versus a candlestick chart. Very similar concept to renko versus candlesticks.
The best thing about trading is that what does not work for one person, does not necessarily mean it will not work for another. It is not maths, where 2+2 = 4. This can be quite easily be seen by the number of trading systems on FF. NEarly each one ofthem has 1-2 ppl who are trading that method only very successfully. If it does not work for you, you are one step closer to finding one that works for you. First step in progress is finding out what is not suitable for you. Need to go from what you don't know you don't know to what i know I don't know. Then go to I know what I know, and then you can make it work.
C4 works for you, nitro doesn't - great. You know what you know. Stick to it. 95% of traders fail because they don't stick to what they know. Make your daily bread with c4. Then, if in the mood, and you think it is worth your time, pull up renko charts, and give them a go. Personally, I would much rather take what I know, make my daily bread and then go and spend time with the family. Each to their own.
As edge's sig says : Simplicity. One aspect of it is take what works for you, and use it simply. Do not over complicate it with trying out things that you can't make work for you.
Happy pipping.
Regards,
K.
There are two methods here, both based on the same concept - PA. But aren't most methods based on that? I have seen 4H methods that have as a part of their method - look at what the price is doing at the daily pivot, etc. All decent methods are based on the same thing.
Taking the MM out of the equation with trading Nitro, lets just have alook at renko charts. It takes quite some time to get used to them, esp after one has spent their entire trading career looking at candle/line/bar charts. As humans, we need relativity. In trading the relativity to price is time - how long did it take price to go from x to y. That is what candle sticks provide, up/down in a specified time. I once read about a study that looked in detail how long it takes for the human mind to learn something new such that it becomes second nature- 3mths. Full 90 days. Obv there will be exceptions, some less some more. But working on the 90 days scenario, we have only been looking at renko charts for about 20days or so. So, as humans we have some time to go. Just have a look at a line chart set to price close, versus a candlestick chart. Very similar concept to renko versus candlesticks.
The best thing about trading is that what does not work for one person, does not necessarily mean it will not work for another. It is not maths, where 2+2 = 4. This can be quite easily be seen by the number of trading systems on FF. NEarly each one ofthem has 1-2 ppl who are trading that method only very successfully. If it does not work for you, you are one step closer to finding one that works for you. First step in progress is finding out what is not suitable for you. Need to go from what you don't know you don't know to what i know I don't know. Then go to I know what I know, and then you can make it work.
C4 works for you, nitro doesn't - great. You know what you know. Stick to it. 95% of traders fail because they don't stick to what they know. Make your daily bread with c4. Then, if in the mood, and you think it is worth your time, pull up renko charts, and give them a go. Personally, I would much rather take what I know, make my daily bread and then go and spend time with the family. Each to their own.
As edge's sig says : Simplicity. One aspect of it is take what works for you, and use it simply. Do not over complicate it with trying out things that you can't make work for you.
Happy pipping.
Regards,
K.
