sincerest apologies peeps, but the yahoo chats last nite, plus the indian raids on our home base during the day, were more tiring than i thought.
did something i havent done in a while ---- quick trades on the one thru 15 min charts with a newb.
heās one of us, though a bit reluctant at times, and his original question was on ENTRY SIGNALS, if i remember correctly ----- the question was most interesting because, although ive said it a number of times, it actually dawned on me (an ahaaaaa moment) that i DONT HAVE ENTRY SIGNALS !
probably not the best thing to say in the land of PRECISE thinking peeps with all their āratiosā and other accounting junk, but my SYSTEM, if one were to call it such is a combination of the time of the day and what is moving UP or DOWN !
WE HAVE ALL THE TOOLS to tell if there is strength in a move, so thats exactly what i do ! If its later in the night, I look at the H4 and see if were moving UP or DOWN ---- nothing SIMPLER ! THEN i look at barrys thingie, the accumulation, the stoch and the trend of the DSS and [B]if its UP i simply take the trade as an overnite[/B] (the H4 doesnt pay off if treated like a scalp, after all !)
I think he got the idea as to why i push some s+r lines, like prior days high and low, prior days close and todays open and the daily pivot. He had a chart that showed daily, weekly, monthly and probably yearly pivots, with their associated s+r points, and he REALIZED that the little thingies we use simply HAVE ALL THAT STUFF INCLUDED in their little computer generated brains.
OTHER WORDS, i would call a resistance area based on barrys or the price channels, the bols or a hangnail and he would say something like āah yes, the MONTHLY pivotā, which was a wonderful thing, but who cares ?
IF ITS RESISTANCE than by golly its RESISTANCE and giving it a name wont help me make money, and being a greedy old capitalist, i want money ! (ok, so give it a name if you want to ā perhaps something like āhappy landingā or ācapitalists coveā or āline in the sandā or something colorful but āpivotā sounds like something a ballarena learns to do !)
so i gave him the GJ overnite and didnt post it and woke up this morning to a few trades of over 100 pips move.
while trading the short term trades, i saw the price moving up to the pivot but i got CAUGHT (because i was busy chatting with him, most likely, although it certainly could have been my own stupidity !) and the price took a DRASTIC DROP (ummm ā hate to be in on those) so we SHORTED the drop and he and i HELD THE LONG with NO sl.
now i dont like having brought someone else into those conditions, but a quick look at the 15 and 60 showed the up trend to still be strong, just a retrace was all.
i guess he kept breathing ok, so he took a conservative profit on the short and by golly, NOT HAVING BEEN STOPPED OUT ON HIS LONG, he took profit on that also and we called it a night !
hope he took the overnite for its over 100 pip move and ill probably find out tonight when he comes back and asks me to show him āthat thing the McGivers taught you last weekā cause he had NEVER made out that well during the night trading and i think he likes it !
the wagons are still circled but weve got automatic weapons and heavy artillery which the earlier settlers didnt have, so FORT MIKEYS MILITIA appears to be protected pretty well at the moment.
where in the world, legal or not, can a human have as much fun as right here at baby pips ?
REMEMBER your years at school here ā youll never get them back !
enjoy, see the humor and trade like the evil capitalist SOB you really are !
mp
