Cut your Losers short and let your Winners run.
- #5,262
- Jan 29, 2016 11:30am Jan 29, 2016 11:30am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
{quote} yes that's what I thought. Although Islander uses it with different settings from the default but they are secret.
Hi dee - hope you've solved your leaks
True that I have changed some things on the way that I display CII and that I do not post templates as I like people to work some things out for themselves - different views can provide additional input and I do spend time in my old thread helping people - both indy's are posted there.
I posted this earlier elsewhere - the divergence in CII can be see and the overlaid stochastics can be used as an additional filter....
"My initial thought after the US Data and the close of that ultra wide ranged, ultra high volumed green hammer was that it was a stop sweep - aka shakeout. Thus I waited to buy after the pull back for some easy points ~ the BRN
Then it was back to my book until the open of the NYSE"
Attached Image (click to enlarge)
Trading Levels with WRBs
- #5,263
- Jan 29, 2016 11:36am Jan 29, 2016 11:36am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
For those of you trading fast charts here is some thing to bare in mind.
All PA, S&R levels, FIB levels, Indicators etc all become self fulfilling prophecies under 1 condition, the more people that are looking at them the more likely that some thing will happen.
For example.
Don't be surprised if price does not bounce off the 38.2% fib of the last swing Hi Lo on your 1 pip Renko chart, because there are probably only 2 of you looking at it expecting some thing to happen.
You need to adjust your expectations. 1inch (2.5cm) on a 10 pip chart could be 30 or 40 pips, on a 1 or 2.5 or 3 pip chart it will only be 12 pips so why would you be using a 20 pip TP for 12 pips of movement.
Fast charts do not necessarily improve your entries, they just increase the number of failed entries, unless, you are keeping on eye on the Bigger picture
Fast charts need fast reactions, if you like to mull things over before you enter, move up a few time frames.
You may think you are Alonso or Nadal but you might actually be Kasparov.
All PA, S&R levels, FIB levels, Indicators etc all become self fulfilling prophecies under 1 condition, the more people that are looking at them the more likely that some thing will happen.
For example.
Don't be surprised if price does not bounce off the 38.2% fib of the last swing Hi Lo on your 1 pip Renko chart, because there are probably only 2 of you looking at it expecting some thing to happen.
You need to adjust your expectations. 1inch (2.5cm) on a 10 pip chart could be 30 or 40 pips, on a 1 or 2.5 or 3 pip chart it will only be 12 pips so why would you be using a 20 pip TP for 12 pips of movement.
Fast charts do not necessarily improve your entries, they just increase the number of failed entries, unless, you are keeping on eye on the Bigger picture
Fast charts need fast reactions, if you like to mull things over before you enter, move up a few time frames.
You may think you are Alonso or Nadal but you might actually be Kasparov.
Cut your Losers short and let your Winners run.
- #5,265
- Jan 29, 2016 11:55am Jan 29, 2016 11:55am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
Cut your Losers short and let your Winners run.
- #5,266
- Jan 29, 2016 3:57pm Jan 29, 2016 3:57pm
- Joined Sep 2014 | Status: No permanent address | 673 Posts
For those of you trading fast charts here is some thing to bare in mind. All PA, S&R levels, FIB levels, Indicators etc all become self fulfilling prophecies under 1 condition, the more people that are looking at them the more likely that some thing will happen. For example. Don't be surprised if price does not bounce off the 38.2% fib of the last swing Hi Lo on your 1 pip Renko chart, because there are probably only 2 of you looking at it expecting some thing to happen. You need to adjust your expectations. 1inch (2.5cm) on a 10 pip chart could...
For those of you trading fast charts here is some thing to bare in mind. All PA, S&R levels, FIB levels, Indicators etc all become self fulfilling prophecies under 1 condition, the more people that are looking at them the more likely that some thing will happen. For example. Don't be surprised if price does not bounce off the 38.2% fib of the last swing Hi Lo on your 1 pip Renko chart, because there are probably only 2 of you looking at it expecting some thing to happen. You need to adjust your expectations. 1inch (2.5cm) on a 10 pip chart could...
About situations I have mentioned in previous post, I can see this every day in chart, look at it:
- #5,268
- Jan 30, 2016 12:40am Jan 30, 2016 12:40am
{quote} So it is still about the same thing - observing price cycles and bigger picture...
Invincibility lies in the defence; the possibility of victory in the attack
The DD on that first trade. You must have gone blue in the face holding your breath for that long.{quote} That is the London lunch time. I usually avoid trading from 12 am to 1 pm (London time). Price tends to consolidate.
- #5,276
- Feb 1, 2016 3:27am Feb 1, 2016 3:27am
- Joined Jul 2010 | Status: Retired | 3,621 Posts
GER30+2+20+10+5+10+5+5+5+21+5+5+22+28. = 143. Not the most elegant way to make pips but when you are in a hurry, I have other distractions today so I wanted to get done quickly. I am not going to answer questions about why I did not take this or why I entered there, I just did, I did not over think it, I just entered.
Bias was short, if you look, there was a GAP up to fill, there was divergence at a BRN and the HTF was OB.
I did not drop down to a 3 pip Renko, thought never entered my mind, but it is Monday morning.
Final thing, I don't mention them very often but I do use them all the time, they are there for a reason, what are the MAs doing?
Have a nice day
(Big American smile)
One more edit. Here is my 10 pip chart if it helps.
Bias was short, if you look, there was a GAP up to fill, there was divergence at a BRN and the HTF was OB.
I did not drop down to a 3 pip Renko, thought never entered my mind, but it is Monday morning.
Final thing, I don't mention them very often but I do use them all the time, they are there for a reason, what are the MAs doing?
Have a nice day
(Big American smile)One more edit. Here is my 10 pip chart if it helps.
Cut your Losers short and let your Winners run.
GER30+2+20+10+5+10+5+5+5+21+5+5+22+28. = 143. Not the most elegant way to make pips but when you are in a hurry, I have other distractions today so I wanted to get done quickly. I am not going to answer questions about why I did not take this or why I entered there, I just did, I did not over think it, I just entered. Bias was short, if you look, there was a GAP up to fill, there was divergence at a BRN and the HTF was OB. I did not drop down to a 3 pip Renko, thought never entered my mind, but it is Monday morning. Final thing, I don't mention...
That is a mess! Pips are pips though, so nice job!DAX (-10, BE, +20)
OMG I am getting tired of my incompetence to set the TM up correctly. It moved my SL to BE once I was in the green. 1$ profit to be precise. It was because the BEProfit was set to 1 -_- This time I think I got it. Anyway, fixed it, so we're good to go.
Invincibility lies in the defence; the possibility of victory in the attack
