Goodmorning everyone,
It's 12:20 a.m. here in Montana land. I'll try to make it to 1:00 a.m.
when my new 4 hour bar opens before I go to bed.
It's all about the bulls & bears. If you check out the 1 minute &
5 minute chart you can watch them fight it out, pip by pip.
I think a lot of the trades on the 1 minute chart are done by
super fast computers. They are located across the street from
let's say "wall street" their internet connection is super fast.
Very high speed computers (million dollar computers) with full
time programmers. And very deep pockets. In other words
it is almost impossible for the small retail trader to compete
with them. (Welcome to the jungle). The only way we can
compete with the high speed traders is to trade a longer term
time frame. Let's say the 4 hour chart. Do our homework, don't
get faked out and let the market play itself out. With a little bit
of skill and luck we can do allright. If we compete head on with them
on the shorter time frame we will lose. So the secret is we must
find a way to beat them at their own game. The game is stacked
on the lower time frames (1,5,15 minute charts are deadly).
Just some thoughts to ponder on...
snarlyjack
It's 12:20 a.m. here in Montana land. I'll try to make it to 1:00 a.m.
when my new 4 hour bar opens before I go to bed.
It's all about the bulls & bears. If you check out the 1 minute &
5 minute chart you can watch them fight it out, pip by pip.
I think a lot of the trades on the 1 minute chart are done by
super fast computers. They are located across the street from
let's say "wall street" their internet connection is super fast.
Very high speed computers (million dollar computers) with full
time programmers. And very deep pockets. In other words
it is almost impossible for the small retail trader to compete
with them. (Welcome to the jungle). The only way we can
compete with the high speed traders is to trade a longer term
time frame. Let's say the 4 hour chart. Do our homework, don't
get faked out and let the market play itself out. With a little bit
of skill and luck we can do allright. If we compete head on with them
on the shorter time frame we will lose. So the secret is we must
find a way to beat them at their own game. The game is stacked
on the lower time frames (1,5,15 minute charts are deadly).
Just some thoughts to ponder on...
snarlyjack
