pukey
[B]understand that i have NO system as you would recognize it[/B] — I enter wherever and whenever i feel like it, as long as im going with the trend (usually the H4).
since different timeframes are moving in different directions at different times, i may easily play many of them, scalping the one and 5 minute, letting the 15 minute run as a short term swing, and trading the H1 and H4 as an “overnite” trade. (the H1 and H4 are “usually” best left to enter between midnite and 1:40 AM, EST, as the last candles at midnite will confirm the move ahead) Both the H1 and H4 can be entered earlier in the day, but now youve entered the land of drawdowns, and without sitting right next to you all day, its hard to show that a drawdown is simply a speed bump, and that youre chosen trade WILL be in profit by tomorrow !
[B]THIS problem, especially when one plays the longer timeframes off a bounce of the LRC, is what convinces people to get out when they suffer an H4 drawdown — they get out of the trade in fear that it wont make it to the correct tp point, and they live to regret that action ![/B]
When i enter an H4 trade, i pretty well know where it will be going, and im willing to allow those drawdowns [B]IF IM TOO LAZY TO WAIT TILL MIDNITE TO ENTER ![/B] But since i pretty much well know, i let the trade run its up and down, because the LRC and s+r is SHOWING me the road we are on, and i know that “grandmas” house is just up the road and around that bend !
[B]what im trying to do here is teach how to SEE the market[/B], and not how to find points that may be good entries — if i take a trade i already know its a correct trade and dont wait for “signals” or xovers or something — i just take the trade !
what i sincerely hope is youse peeps will learn to SEE trades and not become robots to “systems” just like most good traders. While a “system” can be very comforting (and there are many a good one that makes profits) I like to be my own person, freely moving up and down (and sometimes sideways, i admit !) with the flow of the market.
i find stop losses nearly useless and utterly useless if one simply follows the major trend AND obeys the laws of overtrading and maintains strict money management (FORGET risk/reward — THATS for accountants !)
[B]the “tools” i use allow one to see, but are only part of the equation [/B]— the other part is EXPERIENCE which combined with some indicators allows you to FEEL what the market will do, and before long, if you practice SEEING, you will get to be FEELING, but like most things good, it doesnt happen overnite, but it can and usually DOES happen !
when you reach that point, THEN you can say “Im a trader !”
mp
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