Pattern's Chemo-Electric Trading Journal

I'm calling the last post's chart study, "TL Cycles".

example:
Trade each trend. Next trend is 858 to 1550. Previous trend already mapped. Draw a temporary skew line into the next trend's area to get the general idea of where everything can be. Enter trend. Use TL's extended from the last trend and from the cycle's overall attributes, that is, any older lines that may affect the next trend.

(overall, showing where the next trend is (lawn (bright) green vertical dashed lines, skew lines into next trend (lower two (dark) blue lines)))



A more complete example would include a series, for example deviation trend - skew into grid - grid - off-grid (ex.: flat) - skew into deviation trend - deviation trend. Note that there is no skew necessary between grid and off-grid, as the flat (in this ex.; vert, or flat and vert, in other ex.'s) 'converts' the grid into another grid. There can be a bunch of midlines expanding a grid area into an off-grid, perhaps.
A skew is
local (noted in label of picture above),
inter-area (the upper (dark) blue line in the picture above),
in-line (that is, from the overall TL cycle; the older white lines cutting through the price-time line in the picture above),
close-up (or exuberance levels, some of the lines (angled lines in an anchored area, or visa-versa, and sometimes a grid inclusion with anchored lines or deviation inclusion with angled lines) that are short and with limited affect within the body of one of the all-TF cycle's areas),
or news close-up (vertical exuberance levels that skew only within one 1' candle).
A skew is anchored, thus definitionally opposal to and/or replacive of the grid, which is a pairs-supportive idea.

I lost my account. Again.

The good thing is, I keep rewriting my technical chart studies in response to this, and continue to work on my psychological model off-Internet.

Several things just happened. An elder member posted this and it spoke right to me: "experienced traders often don't even realise the edge they are using. They can see things we less experienced traders can't and they don't even know it. "
Only, I took it as one of two things: A personal insult, as in I don't make money, not even demo money, without losing it, and that later I find I'd already found my edge for the big trade I lost several rewritten chart studies ago.

The second thing that happened was that I posted my intuitive mm approach: Trade a bunch of small profits in a row, then lose on the big run I don't get.
It's the same as casino houses use; I'm experienced as heck (fourteen years (counting 2y break) total, ten daytrading, six intense chart study with daytrading), and so my gut instinct can get me through any darn chart study.

Then, I lose. Big. A couple of posts of mine ago, I showed a chart study I confirmed with another example. I'd then entered a trade, a tiny one, that I exited against this idea. It failed, and I exited with a small profit, even after I'd intuitively read (and later chart-study supported (with an exuberance level)) a slightly better exit for it. When I say it failed, that means my overall reason to enter was right.
Only I didn't pick up on this. I tell you, there was a good reason: DIRECTION IS USELESS. Position is number one.
THEN, you pick direction. THEN, consider the little derivative moves. IN. THAT. ORDER!!!!!!

Finally, I realize. In the semi-consciousness of my mind, last night, I knew there was some brilliant idea that g/u was dropping to 1.5000 within this week, either that same day or 4-6 days away. Not a level-headed idea, right? Only now, I'm not so sure. Direction was right, position wrong for the TL I'd recalled. So I ignored it -- I needed a reason.

So lo and behold, I just now opened the chart I needed: A TL ray with these numbers --
2010.01.15 12:30 , 1.626365 , 2010.01.18 02:45 , 1.624457
and its support TL ray one can draw deviation lines with --
2010.01.15 04:15 , 1.628568 , 2010.01.18 08:15 , 1.627099
have been running the show for the GBP/USD for a month and a half. (The number of balances and, later, flats, aligned with the first one have been off the charts!)

Recall, I post in 'balance lines' the supportive evidence for the recent chart study. It works like a logic dot, and I mean one single one-pip candle being the last time anyone sees the pair at that price for over a week.
This must go with the show-stopper TL rays, somehow.

I guess maybe I'm trying to BE the house, only I don't care -- If I can, why not? Of course, it fails. With the lines above, the logic dot idea I'd noted, and so on, maybe I need to collect my methods and only take the best of them and combine that.

Reasonable, right? Okay, then.

Oh, forgot, 1 1/2 years forex with intense chart studies and daytrading.

The list:

logic dot (the first one) -- After this, made 'logarithmic cycles' idea, which got too small an area and applied to wide areas
area bsTL -- an idea in the midst of studying 'logarithmic cycles', especially effective when patterns repeat to crawl over the level and justify dot's existence
average spread pattern -- you take it as the last of a 'logarithmic cycle' that combines with another 'logarithmic cycle' that just happened, or a condensed-and-logr areas comparison approach that derived from the 'logarithmic cycles' idea, or the initiator of longterm lines itself, and it works wonders
centerlines -- begun to use heavily from the condensed-and-logr areas comparison approach showing its capability, this, somehow, is where the show-stopper TL ray and its partner are from
balance line -- Lest I forget, the first miracle idea I had and posted, which labels the top of a hundred-pip move from a week (on the 1') away
dividing lines -- the idea I posted yesterday, which explains the g/u's big drop over the past twelve hours

I tend to run an idea into the ground, and then dismiss it. Or, I pick a safe idea that marches the chart along consistently, which I did with 'shape areas' in the 'EUR/USD Patterns' thread and yesterday with an unpublished version of this called 'TL areas'.
Which is where I get my final miracle line:
isolated centerline -- A big drop, and whatever the top of the drop balances on, even if it's smack in the middle of that drop, a series of five 2-pip bars at the same price and seen on the 5' TF, and other examples, even only the entire big drop, which is then subdivided and repeated


So I guess my job is to combine these ideas into one cohesive approach, somehow.
(Oh, another one: )
repeated pattern -- Label runs as either 'trend' or 'digestion' on whatever TF you prefer, over dozens or hundreds of times, on a static chart. Then, recall what trend-and-digestion pattern the current chart area resembles, and trade it that way. I tried it once, and that it worked, when combined with a technical approach on the current data, led me to believe it'd work often. Of course, there's the obvious use of this notion also, of a current repeated pattern simply happening again in the next chart frame and one guessing which of the several things being repeated in the pattern will both be repeated the next time and will make a decent profit from doing so.

(revised)

Okay, I reviewed the charting approaches listed in the last post and arrived at this to organize TL's, patterns, areas and whatnot:

1) entire area, for example a semicircle
2) pivot dividing the entire area, considering the pivot as a known entity
3) pivot dividing the entire area, considering the pivot as an unknown or movable entity
4) one portion, or trend, of an area, studied in general
5) one portion, or trend, of an area, taken only for its middle/top/base, and thus the trend being likely only flat or vertical

The approaches above organize into

1) area bsTL ; balance line (as defined in last post) ;
2) centerlines: the show-stopper TL ray and its partner ;
3) condensed-and-logr areas comparison ;
4) logic dot; dividing lines* ;
5) isolated centerline: a series of five 2-pip bars at the same price and seen on the 5' TF ; crossover dots (in picture following)

*The second posted 'dividing lines' example also has a strong characteristic of 5), and the method has overtones of addressing an area and thus involves 1) also; thus, the second example gained more influence.

I traded a set of lines made from this new chart study. Perhaps mere good attitude got me the trade, which did have ample support for its existence.
This example of use follows, with level number displayed next to each TL or set of TL's. The study's time of finish is noted with an arrow and thus its effectiveness thereafter; and, the lines that were drawn at the time of the trade (whose time is also on the chart) have little ellipses to denote them.









In the last picture, the TL marked "2" and the second-to-highest one marked "1" coalesce later into a natural deviation line, with helper midlines highlighted for their respective midpoints. Price continues through the doldrums along the imaginary line at the second midline noted after this one.

-----

I'm probably not going to choose TL's that are all on the same TF or otherwise of the such shortterm effectiveness. This example shows you can jump in and make a trade from anywhere, which is my purpose for rewriting my chart studies so much. Of course, much more testing needs be done.

http://hapattern.mt4stats.com (mbt demo)

Rating (May use all if do all and distinguish with application, else rate in order:
TL's_________________application
1 one.......................length effectiveness
2 area bet.: one.........leverage
3 area bet.: sev'l........tensegrity
4 area of: one...........line:trend density
5 area of: sev'l..........interarea switch

Rating give pre-trade risk approximation, sans psychology. And if I trade w/o psy, you'll probably see (as has been my practice) a reboot on the demo tracked in the link above. Hope springs eternal, I guess; I do have a sophisticated psy model I made that I can use.

I finished my method -- yes, said this lots -- with having longterm, midterm and up-close types of TL's. Candles are the built-in MT4 ones, green and limited-width viewable. Will keep posting any new ideas that are fit (with rating for each new idea) I happen to get.

Testing MB Trading ( www.mbtrading.com ), also. I traded for about a pip plus the spread for half a dozen trades, and broke even. Scalp-friendly, right; spread was 2 1/2 pips during the Asian on g/u. Well, guess I have to think now to get the extra pips.
All five of my trades' plans' entries were correct, glad for this. So, psych failed me.

Okay, made a real trade. Read elsewhere it's expensive to trade at mb trading, and now see why. 34.00 for one trade, can get 10.00 round trip at stock broke rs. Well, if I'm not good enough, what's the point anyhow.

3 to 4:1 is the usual risk:reward ratio, and if have a 2 to 2 1/2 pip spread plus about a 1 to 1 1/2 pip commission, then 3-4 * [ (3+1) to (4+1) ] = 12 to 20 pips. This is still within scalping range, just higher than I'm used to. I'll have to train on my method a lot more to be a longterm-consistent trader.
Of course, the rr implies I'll lose, so no way will I actually profit that much.

Did another real trade, for slightly more than last night's final one.
My lines for the trades above:

(first trades)



(next trades)





(setup for possible trades)

Trades from the last 22h







----

03242010

Lost account. The mt4stats site won't let me change accounts for my username, so I'll keep the same account. Dumb reason, reality may do the same so might as well (include this portion of mm.)
Searching for EA to divide each trade into one-unit trades, to avoid wholesale loss if hit margin call.
Went MTF on methodology, the new approach only containing ten TL shapes.
I then choose the TL shape covering the most area or the most of an area. This introduces a new philosophy of TL drawing for me, each TL having to prove its worth before being used. It also allows single-TF trading if (and I did this a few weeks ago, unposted) 'the most of an area' is applied in a series.

Ouch. That was a mess.

This may be work:

LTA -- Lousy Traders Anonymous. Should begin a chapter.

Anyhow, neatness counts. Yes. I need my edge next.

Why: I'll record where I went right and wrong about all the junk I'm doing, at least occasionally, with the latest full trading method on the first post of this thread. I've used the last one for a couple of weeks now, just added the inside stuff for all the frame-like appoaches in the initial list.

trade one:




Or not... Darn these exceptions.

(revised)

overview

Traded the technical approach with LFH simulator and decided to go 50SL and either 100-1000 pips by 25's or, optionally, little moves of 15 until understand / arrive at next move; this optimally gives me about 4:1 on average, an acceptable risk. (At this level, I avoid having to read every last 1' candle against the current shapes in my method, which, while effective, is exhausting.) The approach is discretionary, so only practice tells what it can do. It averages four regular trades a week. I hope to realize fully the intent this post of mine presented. (I'd better shut up now, bothering the real-money traders.) The nice thing is, I can keep 50-80:1 (usually 80) leverage, compound each trade, and only study the 1' TF.

Needs hours of simulator/demo practice a day to keep my edge.

----

Well, that's the plan.

(revised)

Set each of the last post's major trades and trade every thinkable trend within -- the no-SL sub-20's, the highest-risk types -- each of them that you figure the temporary reason for. More sensible, if you can do it. I think I can. That way, at least I have redundancy to the approach, an important attribute to any high-risk endeavor.




-----

sample of stats:
Total trades with profit: 35 Total trades with loss: 12
Largest Profit Trade: $ 1368.50 (2010.04.02 on GBPUSD) Largest Loss Trade:
$ -2677.50 (2010.04.06 on GBPUSD)

Immature. 3:1 RR per trade, 1:2 PL per trade . Must.. Stop.. Loss .. ..... How do you put an SL in, which'd increase the PL ratio, without also increasing the number of times you lose, which'd decrease the RR ratio?

I've stuck to the exact same chart study for the past week. Can't believe it!
Here it is --


It's 3D shapes (triangle, frame, circle, with the occasional line (as per 'e/u patterns' example) like in the 'eur/usd patterns' posts, only line-producing and thus more rare and thus not sequentially with other shapes to make a certain area.
1' TF gets 1-2D shapes (dots, line segments, 2D curves) and other representation between 3D shapes that shows the subtle shift of preference from one 15'TF shape to another.

15'TF template, for 1' TF trading --

Trading of it abysmal, not for lack of method.
I suppose I ought to give a sample of the 1'TF in a template, also, using the template above.

----------

04262010 New method -- Figured s/r breaks (condensed-logr to logr cycles range, see 'balance lines' post for a middle-of-the-range example) go with shape lines (circle, triangle, square; repetition, opposition; trendline, midline, deviation line, midpoint line, trend centerline) -- working. Found that it loosely cages each trade, I have to draw new lines for every trade, and a 'test line' is sometimes necessary (instead of a 'test trade', which is between disastrous and a loss of potential profit) to see how an idea unfolds.
'Loosely' : Even used Gann Fans for partial justification of one trade; hey, it's anchored and a fan, a decent representation of a logarithm i.e. of momentum. It was at the base of a big, simple drop with two tiny stops in the drop and a spikey balance pattern at the base of the drop.
Stops, 65 absolute (got it from Nene's g/u thread post) and conceptual error for less than that i.e. relative.

(revised)


yet another trading method : LINE PATTERNS (a draft)

Shapes -- triangle, square, circle -- and inherently-balanced patterns -- flat (vertical and/or horizontal) line segment, ( whatchamacallits, ) multitrend-balancing patterns. On the 1' TF, it's interlinked multiples of the same shape with one or more of another shape type, patterns already balanced needing fewer; on the 15', it's more often one shape with another, even only one shape; and, if memory serves me, on the 4H, it's the turn pivot into a balance pattern that connects with one shape.
More often, it's balance patterns with flat line segments; interbalanced circles, triangles or squares with lesser examples of the other shapes. If the interbalanced examples of the same type of shape balance at least in one direction, then another balance pattern and/or flat line segment works.

Uses the line-curve-dot perspective
(relative shapes:
line general grid area, versus multiple points of influence/anchor/action, where the pattern with a definite beginning and end is evident;
curve various of the deepest response-and-screen approaches, versus one or a few points with each having more than usual echo/anchor/action, where the original anchor point and then a blurred wandering with (vertical and/or horizontal) levels is evident; and,
dot stability around a vertical (and/or horizontal) line, or a shape with such for a center, where a single spike tracing the vertical and/or horizontal line in spacetime as a dot is evident
what relative shapes or the number of lines projecting from a set of absolute shapes do or have: 0 breakdown/buildup 1 size 2 opposition several mix infinity-1 repetition) .


Vertical pivots are the most important feature to the line patterns approach. Thus, logarithmic curves must support (un)making them. While I have available methods to determine when logarithmic curves or momentum ends, the methods fail to connect to each other meaningfully and simply as of yet.


On the one 15'TF line with supporting 1'TF lines approach:

Use one 15'TF TL (a "cool-looking one") for the current chart area and draw a bunch of 1'TF lines around it to justify its existence and the validity of use to inform the evolution of the chart.

Essential is to fill in a bunch of the 1'TF lines to understand that TF first, because going from the 15'TF allows sloppiness and necessary /lots of hit SL's;
at the same time, use correct 15'TF lines, one per trade, derived from those current 1'TF lines to segue any big gaps of attention time with the chart, as the 1'TF one studied and is familiar with from before will be completely and destructively wrong now.

Sometimes it's difficult to keep to this, because, you will have had a really good session at one time and then, in the next session you trade, price is moving a lot while your old 15'TF line worked well some more while you weren't available to look. At least there's usually only one way to draw the lines of a particular area, and they work with each other closely to allow one to use stop losses.

Meanwhile, keep a continuous (may skip around) set of lines justifying the entire 15' and/or 1' TF chart, to use as a sketchpad when thinking to get the next trade's own 15'TF line, which won't be on the 15'TF template, since they're centered on the longterm.


-----

While the method is exact, its stop losses are wide. Possible solutions range from lines that are at the same level as the line-drawing method first described above -- when logarithmic curves or similar momentum areas are plainly seen, the range from condensed-logr to level-and-dot type of logr cycle could be useful -- to using a different broke r's data -- InstaTrader seemed to have more anchor lines (bsTL's, or small/average/large spread patterns and their lines) present in its evenly varied number of single-pip bars -- to fooling with volume -- futures VSA or a bid-ask volume comparison -- to any close-up ideas in my 'balance lines' thread.


Anyhow, here's to the one who wrote " 7)Forget about trend-lines these “LOOK COOL” and thats about it. " (Waited to now for posting threshold to drop.)

I made a trade on a poorer reason, and, thinking of a possible next trade, incidentally made a better reason that typifies how I like to think through each of my trades (since the worse ones depend overly on unstated experience):









NOTE: There's alot of extra boxes highlighting patterns I didn't use. The only ones to pay attention to, at least in terms of the lines being effective, are the ones intersecting the first and third dots on the highlighted lines and then the last, gold/yellow two that explain the trade most clearly.

REASON
The entire thing, of course, is about balance; the higher, gold box is a head-and-shoulders type high-pivot balance pattern, while the lower, darker yellow box is a side balance, thus suggesting a trade from the higher to the lower when the central line is hit.

Hi,

Ha pattern,

Intresting method you have i got a question can you maybe share that buyers and sellers volume indicator cant find it.

And i really can use it thanks

Welcome and thanks. I hope I have a method, considering how many times I've rewritten it.

Bid/Ask Volume:
Found one --
Read here for explanation of use.

I guess oil (and gold, too) has more exact volume than the unregulated spot forex market does, unless you get an ESignal volume feed for the last one.

I took a shot at it, anyhow, with unreg (it's been a while, had TicksSeparateVolume on the charts for months last year):



Yeah, I don't miss it. Lots of data to think connectively about for an effect that lasts too short of a time, and a higher TF gives more inaccuracy per candle for this method since you're reading between pivots a lot.

Good luck to you on its use.

Thank you my friend i think it is really usefull.


Thanks

(revised)

I traded small a bunch of times in a row and thought I could then trade big when I wanted to. Didn't work that way.
Instead, I pushed myself too far and got a big in-trade drawdown.

While attempting to increase my per-trade number of pips, I realized that my lines are insufficient to explain a chart area 'in the moment'. In the current state of organization I have toward this goal, I have to study for at least ten minutes to get anywhere, and even then I may get it wrong.

Following this explanation of where I went wrong, I present an original way of representing new types of TL's. Keeping it loose: To make sure I record my new types of TL's, I'm going to include in my journal(s) a new way of recording them.
Pictures get cumbersome, and of course there are infinite TL's if you look at them with that approach. An abstract way of recording TL's is helpful. So, I reduced some of my favorite and recent types of TL's into simple representation of dots and line segments; it seems, at least for now, that TL's that I draw use pivots of various number and types of order and use some kind of level to draw through.

Thus, I'll draw a simple sketch of my new TL's and explain and have a picture of the chart for them if or when I get a chance.
What, of course, I'm most interested in is TL rays that describe an entire area's pivots in detail and at once.

The TLs' representative sketch includes
TL's central portion: Dot(s) and/or line segment(s) on both sides of a TL's center dot (in MT4).
Optional, the rest of the TL: how the patterns from which the TL's central portion are made, lead to the rest of the TL ray's progression of shapes to a single pattern.

The picture may seem like gibberish, so I'll keep them in the journal unless I explain and add photos to them.

example



One thing that interested me to now was that you arrange the dots (and levels, and the patterns the dots are from) TL's veer from first, and their order of display tells a lot about how the price-time line will act even far away from the active TL.



--

Here's one I just made that is about a complete description:





A sketch of it is



More description:






The symmetry of the original area around the TL set's first anchors is stereoscopic, that is, an upside-down projection, and a ninety-degree rotation, upon the intersected area.

description for this example:
Notice how there's a head-and-shoulders - type shape after the TLs' anchors and before the anchoring pivot where the three TLs cross over. This shape approximately repeats a few shapes after the intersection after the crossover anchoring pivot. (The 'x' 's on the template denote other places to put the crossover anchoring pivot, to align with high-side pivots.)
And, you put the opposition of the TLs' anchoring levels as a generally horizontal pattern, with the generally vertical pattern that their TL ray set intersects, and you get tension from the opposition that needs to be resolved. The big shape right after the intersection vertical shape relieves most of this tension. Then, the big shape already noted happens, in line with the original TLs' progression of shapes in and after it.
Of course, I've skipped describing several shapes and thus am at least somewhat wrong. The point is, this TL set describes the major portion and thus the basic structure of this area.



----------

update:

Thought of some variables to systematize the description of a large group of TL's. It is a table with a little symbolic drawing and/or a word or two in each box.
*Systematic breakdown of areawide TL(-set)s
.....expansion to same-size to contraction of TL-aligned space after the TL's originate; range of answer YES, Somewhat or NO if only 'expansion' asked, else which
.....opposition of origination versus conclusion of TL's making and then utility; range of answer grid directions with an adjective on each of making and utility sides, the adjectives describing an opposition, maybe spectroscopic (upside-down) other-grid (if original vertical, intersected horizontal) symmetry or just a short logarithm that is then expanded for a long while on the (straight-line) TL's ray
.....grid lines underlying the making and the utility sides; range of answer vertical one and horizontal the other, or another mixture that balances these two overall
.....level lines through trends that help balance the TL's(') affected area, especially their origin and finish; range of answer, actual price-time line that's approximately a line segment, to a connection through a TL that connects pt line anchors that works okay with consideration of history and nearby actual pt-line line segments
.....dot is one to an ordered bunch of dots on or sometimes off the price-time line that originate one or several TL's; range of answer, how the dots are ordered, especially in relation to what levels them -- a dot, a line segment, a shape -- into one path
*
*This variables list to describe each TL set deals with an entire cycle of possible lines, from very long-use expansive TL rays to ultra-short and repeating-pattern TL segments.


This list has extra benefits. My TLs' endings were a lot more sure, this template and chart show. , 1
In this template, I learn how to triple-confirm a pivot low, install a slew of TL sets one after another in a simple, logical way, have a bunch of TL's in one area make sense relative to each other and each of their origins, begin from the 15'TF pattern (a sketch of it here) and reason the rest of the TL's that follow it over the weeks, glance at a chart area and figure what kind of TL's I need to draw in order to circumscribe the area effectively, and complete most any line according to its own behavior.

The progression of TL's is also tensegral amongst themselves. Nevertheless, the last template shown is based on one 15'TF-effective set of TL's. However correct in application, this occurrence is likely rare, and there can be a large, 15'TF-big pivot in the price-time line. Thus, simulator practice and a constant watch on higher TFs' relation to the lower ones are essential. In other words, the higher TF's bring extreme randomness, the lowest extreme tensegrity: You can be locked in to the current 1'TF and be right about the next trade, until some odd shape you dismiss is really a call to pay attention to the higher TF's. If you don't, the entire account is in jeopardy.
Thus, I'll use the simulator to keep the lowest TF tensegral and keep aware of the highest TFs' types of patterns, so that when I base a logical string of TL's from a single 15' or other higher - TF TL set, each breakdown into the smallest areas will align faster with what's happening at the higher TF's. Perhaps, anchoring in several higher-TF different TL sets and then comparing how their respective logical-string TL's go through, I can more easily figure which direction the price-time line is to take.

(revised)


*chart*


Any midline-TL set can be drawn and adjusted with later level-anchor ratios each found at any one price
and/or time :

hz/vert/angled level(s), a pressured one making midlines (TL's highlighted to use the midpoint);
curve-turned left/right * high/low anchor(s), a pressured one making TL rays;
and, short lines of each type to adjust use of the midline-TL set chosen.

One also uses the short lines that in turn use the current ratio to gauge when a new midline-TL set may be needed.

Anchors i.e. dots, levels i.e. line segments, triangles, frames and circles complete the list of common shapes that may replace the appropriate shape words in "hz ... needed".


*trade*

Warm-up your midline-TL set-making and adjusting set with ratio, on paper then simulator then demo then pennies, before real, for a few hours each evening to a few minutes early morning (EST).
Keep a database of especially creative sets of the past, to make new ones from their ideas.

Cut your losses short, let your winners run.

(My new mm is what the 1998 book Trading to Win has on its inside flap: ")

Let go of false beliefs about yourself and the markets
Trade in terms of the amount of money you have and the kinds of profit percentages you want to produce
Play through feelings of anxiety
Avoid the dangers of both despair and euphoria
Abandon energy-draining behaviors, like impulsiveness, chest-beating, and whining
Achieve total commitment and experience the exhilaration of 'the zone,' where everything flows effortlessly

("
*) I have to write on these every time I want to trade, to channel my psychology onto a workable path.

An optional shortcut table on trading with line patterns:



columns:
1 line patterns on chart, the upper more often patterns and the lower more often lines
2 my own stuff; self-evident from definition of words -- "evolu" is evolution, exist an object or condition; can be considering a winning trade position or the influence of one's own life position upon how one trades
3 training or getting ready to trade
4 trade
5 profit and loss


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Oh, also, in post #1 of 'bar channels' thread, described and gave chart examples for one new and a revised old type of nontraditional TL set.

(revised)

Still on demo, losing accounts.

Figured a new chart study approach, which formalized line patterns into this:

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line patterns, an ongoing demo project to find my own TL's/candles chart study

type 4
Using lines and shapes (this post), which involves either lines that are separate and the patterns with each only functionally repeated or lines that serve the other lines in opposite directions when the patterns are at least in form and function repeated;

1
there also being dot (bsTL's, pip lines),
which only involves a trend for the TL to be drawn;

2
dot and line (one, usually, of this: a straight trend and another such trend ninety degrees from it),
which only involves a midline for the TL to be drawn;

3
line (lots of TL's of this description: a pattern that balances around one line and then a midline ninety degrees to that line and in a trend the TL finds its second point at; there being also trend centerlines and trend-centerline midlines, and shape-area lines),
which involves TL, midline, close or a series of TL's made from the type;

5
and, shape (cl's/lc's, in the last post), which involves shapes enough for price to turn solely on their appearance in this type of line pattern's area of effect.

Also, there is a psych-blended inclusion to this approach, saying the market's (or I'm) in euphoria or despair, or whatever:

dot: the zone, objective ; (sets of) single-pip-candle TL's
*dot and line: midline-only stuff, corner
*line: impulsive / passive-aggressive performance/development; ninety-degree TL's, one side balanced on one axis and other on other, with multiple such lines
*line and shape: repeated patterns with a range of instances such as backward-to-earlier pattern, using proxy line in present, or projecting lines through a vertical screen
*shape: i despair/anxiety-euphoria/belief (that a shape will be as one says, I guess); cl/lc

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!@#$Q@#$%@#%^#$^& My sonofabitch trade went through before I could post it.
Anyway, here it was:





and the result:



Refer to today's 'balance lines' post for further information.

trade comments:
The entry was poor, as I had not yet made a solid reason to enter, which of course would have been just above the ersatz dividing line between two much earlier logr's and just now at the preferred entry the condensed above the dividing line.
And, I changed the exit from a loose one below the condensed-logr dividing line, to the larger cl's dividing line that originates from the huge midlines.

Along with the trade entry flub, I'm not sure why I treat condensed-logr as such a crutch, when there are four other variations of line patterns available.

This method brings together over a year of chart study, as well as showing promise toward bringing psychology solidly into the fold. So, I hope to get rid of these and other stumbling blocks to getting the method to work.


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Chart made a derivative move off this one while I was gone, splitting the two latter lines I used to describe the proper trade for the actual (demo) trade I made:

Thanks, Sim! I enjoy reading your comments, whether or not about trading. And, it's good to know another discretionary, candles / s/r / TL trader (as I understand it: 1, 2.)



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Another vouch brings me safely past the edge. I also support those who make $ with the general method I'm trying to get to for myself.

Speaking of that, I guess I have to work my own TL's in with the levels - candles method. They are holistic, in that the TL's group an entire area's candle patterns in a way to project small moves and the next big move. They are notoriously difficult, in that my brain has to be incredibly creative in getting them at the same time it has to be devoted and loyal to what I get once the TL set is right -- Being rebellious and then a loyal conservative on such a short, logical turn of time is unnerving. The MTF candle - s/r levels method just broached would ease this transition.

Also, the posts in response to the gracious individual above helped me realize that, after my own perambulations on the subject, separate reasons (from different ways of using the MTF candles and the s/r levels) each incomplete and brought together for a reasonable answer, is just as effective as being completely right or wrong with a holistic TL-set approach. $, it's all good.

oh boy.... I guess you guys have a lot of time in your hands to waste with something that will never work.

Just for the record....did you guys know that every single thing you add to your chart is like adding another variable to an equation.

x+3=5 is easy right? Ok but forex is not that simple

x+y=5 that's a little more close to the degree of forex complexity.

Now lets see what you guys are doing to it:

[email protected] hard uh?

The market can only succumb to its own inefficiency and you guys are adding to its strength that is randomness.