Lets see the market for me opened at 5pm CST its now 7:17 CST, See ya, have a nice day,
Just for the record. I’m here to trade what I know and anyone with an open mind is welcome to learn. I don’t mind a counter opinion but show a little honesty. Put up a chart with your opinion and if you’ve really got it trade it.
Also I couldn’t care less about fundamentals or multi time frame analysis. IMHO they are meaningless. I trade charts, charts and more charts. Nothing less, nothing more.
NP I’m not here to insult or hold anyone back, only help where possible.
I will take my pips and leave you a-lone!
May all your pips be green.
Sadly I’ve already attracted a parasite and need to make the following statement: I’ve started this thread because this is the “Trading System” category. This method does have some discretionary aspects to it but it is a system or method I intend to present over a period of time and will present new concepts as they become pertinent. I will do so with live charts and live trades and will keep cherry picked historical charts to a minimum. Being a purely technical trader I don’t engage in multi time frame analysis and I almost completely ignore fundamental analysis. That being said I tend to stay out of the market during NFP and other red flag events.
I appreciate sincere questions about this system/method but respectfully I’m not interested in your particular system or method of trading. So I would appreciate if you keep your fundies, indis and our own system/method to yourself and/or your own thread.
I present here a system/method that works for me. It may not work for you.
In addition I trade 3 minute charts and 20 minute charts. These time frames are not available on MT4. However that really matters not as you can trade this method on a 30 second chart or a weekly chart and the analysis will not change. If you insist on multi time frame analysis then I cannot help you.
Some rules to keep things about trading.
Rules:
1. I’m teaching a method of trading.
2. At the expense of sounding arrogant I’m generally not looking for suggestions or improvements. If you’re a profitable PA trader then perhaps. But if your still in the learning process and finding your way to profitable trading then by all means come and learn.
3. If you comment please put up a chart.
4. If you disagree with my position then put up a chart to counter. I will be wrong often and in this way I may learn from you.
5. I don’t care about indicators. It doesn’t bother me if you have them on your chart but if you tell me I’m wrong because your indicator says so then sorry. I have nothing to say about it.
6. I trade 3 min and 20 minute charts. So your charts should be relatively close in time period to mine. If you say my 3 min trade is wrong because I’m trading against your daily trend then please…save it.
7. My posts will contain live charts and I will almost always post my trades live as pending orders. I do take some market trades so sometimes the post will after I’ve entered.
8. I will keep cherry picking to a minimum and in general will do this to help with learning the method.
9. Finally I don’t use MTF analysis at all. I trade the chart/time frame in front of me and I don’t look for PA on a lower time frame to justify entry on a higher time frame. IMHO this is why many traders fail.The 3 purple arrows show large gap created by 3 bearish bars that engulf bull attempts at left. Green down arrow was a good short but didn’t get high enough. Red rectangle is a coil that resolved south with the bearish bars and was a good sign of things to come. Pending order as shown but getting late so if it doesn’t come back pretty quickly I’ll pull it.
Clearing the books above and below. Price now taking out the tail pattern up top. Possible buy when price comes back but just going to watch this as liquidity drying up this time of the day.
