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Thanks Bob.I listened to Big Mikes webinar a while back.One of the big topics for Mike is to stop changing charts.I have been through that too many times.It really is a huge waste of time for me.The 1 min charts and 4 range sucked me in, and literally sidetracked me for years.I think partly the reason i go back to them is my desire to be scalp.I would trade juju beans for 3 ticks if i could do it consistently.I remember the first time i saw Michael Moores thread, and i instantly brought up his charts and went to work.It was no surprise that i couldnt make it work for me.There are so many methods that can make $ in trading.For me, i have probably traded many that may have worked, had i stuck with them.I
new paragraph(hehe).So, i have been using the 5min, with a few emas and a macd(all stock.I took off the macd avg and histogram.The simpler , the better.So, no fancy indicators(they just take my eyes off of price action), and please god....no more chart changes.
By the way, my inlaws have a condo in Midnite cove(siesta key i believe) on minight pass rd.Just over the bridge.This year was a bit of a downer with the algae in the water.Very stinky....I cant take the cold in NY anymore...wah...one day we will be in Florida, atleast for a couple of months in the winter.Note to rracer.you fired up that double barrel stove yet?Im sitting in front of mine right now...with my dog Teddy..golden retriever..my buddy..Got about 4 chords of fire wood, and i intend to use it all!
Being pulled one way and then another by whatever new trading thing comes up is very dangerous. I have no idea how to do trading right (obviously), but I do know a lot about doing it wrong. I've done it enough.
I think you're getting a better handle on it. I hope I am, too.
As to the weather, I was going to make some smart-ass remark about temperatures (it got down in the 60's today, I had to find a long-sleeve shirt, that kind of thing ), but the fact is, as you mentioned, that the algae situation here on the Gulf coast is very bad this year. We have "red tide," an obnoxious organism that is not only toxic to fish and marine animals -- and kills them, leaving the bodies to decay and stink -- but also gives off a toxic vapor that causes respiratory distress and burning eyes. My eyes started stinging a week ago and are just getting better, perhaps due to the colder weather. Many of the good points of living here are gone this year, unfortunately.
I still don't want to be back in New York right now.... I had too many cold and snowy winters when I lived in Brooklyn, so many years ago. I do think fondly of it often, but less so in the winters, somehow....
Hey buddy, you better believe it Works like a champ... we got a smattering of snow here, but temps have been cold. That bad boy can take the shop from 40F to 70F in about half an hour, not even breathing hard... much better than the old single barrel setup, and not too shabby considering the 16' ceilings!
Post a pic of your rig, would love to see it. Stay warm bro, and keep those charts simple!
nov 19 1st trade
My main play..DDT, break 60 ema(red) and short on every pb to 20 ema(black) with subsequent LLs.Full stop...its time to work this main play, and see if its gonna last
nov 19 a different look at the same play.The first example, i was sound asleep.This is a nice example of how being aggressive when price action is alligned correctly(HHs).The 2nd instance, was for a trend change.Today was a stop.In retrospect, it didnt need to be a full stop.The thing is, when i tighten my stops, many times i regret it.Essentially,this failed play resumed the trend
nov 19
my 2nd play in the playbook.Basically, if price is making a deep pb,and the emas are alligned AND...its not coming off a DDT , i can take a long on an overshoot of red(60 ema ) or gold(200 ema.)I missed the first one.Im still watching this play.Only took 10 ticks on this.
EURUSD was bloody difficult last week. That aggressive selling on Monday and then it never looked back as it surreptitiously retraced the rest of the week soaking up all those sellers. If you were playing the 4hr chart where do you imagine the short stops (buy orders) would reside?
Thanksgiving this week and nothing that stands out on the calendar. I wonder if smart money would be looking to 'park the car' somewhere nearer to a higher timerame POC or something? 1.15 seems to be the next logical swing for buyers to assault.
Thanx Grantx.I will look to some of the HTF charts.Its been pretty crazy here lately.I have settled on 2 intraday plays for now.The seem to work most of the time.My simple task right now, is to see these plays in real time, and execute without hesitation every time.I have been mentioning no chart changes, because for too long i have had a discipline issue.Aslo, i believe that the majority of the day is noise price action(from my point of view.I am getting away from trying to understand the days order flow.I just dont understand most of it..........................seemingly out of nowhere,GBPUSD will break down 100 ticks, and shoot up 100 ticks.I need simplicity.I understand the 2 patterns i have chosen, and i can act accordingly when they occur.I look at the 30 min just to see s and r, and its often all over the place....Bob
My parents are in town,so my trading day today cut way short.I was still at the charts by 5 am...nothin for me to do.I looked late in the day, and after 10am my #2 play was triggered on 2 charts.Even tho i didnt participate, its good to see it working nicely.Holiday week.Its likely ill be back at it Monday.
Bob
11/27
howdy.finally back from the holiday.Took 2 shorts today.I dont love trading from the middle of the profile.The price action was erratic also.So why did i take these 2 shorts?First,the emas were alligned for shorts.Second, we had slight divergence,and i was looking for a dump to new lod.Also, as sloppy as it was, is it ever perfect?Not likely!Also, i think about the trades i pass on, and then i watch them go on to work nicely..that REALLY bothers me.So, thats really it.Now, once the 20/60 emas crossed on eurjpy, i could have scratched.Thats something i will continue to watch..2 full stops