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Horribly confusing price action around the open of CL today. Think maybe a new chaotic algo was being run today ..whose only intention was to make people lose regardless of whether they were long or short. LoL
After watching my recorded sessions and looking at my trading journal for the last several weeks, it has become obvious that I have made some mistakes. Yes, on those strong days..where price makes several vertical pushes..I do great. But there are many days where the price action is very "wiggly". Yes, it may go from point A to point B..but it does so in a confusing bumpy fashion. Those are the days I do not do well.
I went on Ninja Market replay and started replaying those choppy days that I failed on..and I watched in some higher timeframes along with my usual ones. I started seeing the context of the market differently and realized that the "wiggling" was more obvious on my lower timeframes. My point is I was not paying enough attention to the higher timeframes. I was focused mainly on my 2 range and 5 range charts. I still think they're great to time in entries and they work phenomenal on those strong trending days.
But even just watching a 1 minute and 5 minute, I got a totally different perspective as far as overall trend goes. Now, I look at them when doing my initial analysis, but I haven't been watching them that closely while trading.. especially with my indicators on them. So even though my 2 range on a choppy day might have me exiting and losing, the higher time frame showed the target was still going to be reached, but in a more chaotic way. Again, at my level this should be obvious, but I guess we can all get caught up in missing the bigger picture. And as long as I can keep my stops small, I will be using the higher timeframes for trend perspective more this week. I will report at the end of the week..what my results are.
No, absolutely not. Unfortunately, when you use their indicators on any other timeframe than a 1 range chart, it produces this banner thats shows up saying" they work best on a 1 range setting." As you may have seem in my past posts, I always try to blot out these banners and hide them. However, when making a video, I do not know how to blot them out. So, not promoting them, but no longer hiding them..since I get PMs asking what I use. My video explains a lot of this.
Hang in there. Failure is not an option. You have to find a method that works for you.
I found one that works for me. It took a few years and a lot of "tuition" but I found it.
The reason I've read your thread is because I'm looking for an intra-day methodology that I can be successful with. My method is swing trading so I have a lot of time as I wait for my trades to play out.
