Watched the videos 2 times (until now… ) to be sure to understand the concepts.
Let’s see if I’ve understood right…
Impulsive wave is when is at least 200% of previous wave in the same direction, This is true for H1 (as in the videos), but, is it true also for H5 and D1 waves?
2)Whan a wave is about 3 Std Dev and LRleg channel is broken, is very propbable we have a Flat… It can lead @ a reversal, or a continuation…
3 A bounce from 50% retrace of impulsive H1 wave should lead to a second impulsive H1 wave. The lenght should be about 100% of the first one…
As we see in my image, we had the last H1 up wave that is > 200% of the previous one, also if starts below last H1 swing. Is this a correct example of impulsive?
Shall we wait for a 50% retrace to enter long? Or, considering the fact that it broke the previous H1 high swing (Resistance should become support). can we go long @ 20 pips from the bottom of the H1 actual flat…?
Note: Price bounced off exactly @ 50% retrace of previos H5 impulsive up move… leading to the last new H1 impulsive up move… Can we expect the second H5 impulsive up move?
OKAY
Rel
Just watched the videos and they sorta blew my mind, I realized that I hadnt really fully understood your concepts before.
the 20 pip rule is more for when the market is in a horizontal range after you’ve identified it(by having at least 2 confirmations of supports/resistances, you can only get the 2 confirmations of both by having 5 swings), right?
next trying to trade breakouts developing to trends, is the rule of two (that when price breaks-out of a horizontal range that you’ve identified, the swing needs to be twice as long as the last swing for it to confirm that price has broken out of the horizontal range and that it hasnt just found another support or resistance, like in the video when price broke down in eur/usd and before knowing it might look like a downtrend but since it only reached 125% and then turned back then it was just going to continue the horizontal trend.
Yeah got it… but if the impulse move is more than the standard dev 3 on H5 swing, the market is likely to flat out right?..
I think you need to xplain in detail how to read the bell curve… I’ve been starring at it quite some time, but not that sure…
Sorry for typo… I wanna say there aren’t H1 swings > 85 pips…but we know there are many into the charts (EU)…
Also, if indicator loaded enough candle to measure the correct values…
and for that we just need a ton of screen-time to figure out our own rules for the market? kay I think I get it now, you’re giving us the tools(barros swing, and understanding of multi-“timeframe” charts, the 20 pip rule) to make our own rules, not as a lot of people do which is just to give people their rules for their system.
Rel I’ve found just this immensly helpful. I’ve been able to get decent gains, but I think that after a while (2 or 3 months) of screen time to develop my own rules I’ll be able to get close to the gains you get. I like your method of teaching a lot, its better cause we get more of an understanding of the market as opposed to just “follow these rules and you’ll make tons of pips”
It’s the statistical indi as well, that is the STDEV tool…measuring volatility. I’m using the STDEV =2, period =20… but what about shift?..usefull for swing trade… please elaborate…
No I can’t… I dont know the proper way of using it. Sometimes it doesnt bounce on the xtreme line as expected…but rather get through it… Please advice.
Honestly speaking, I had tried to trade using the BB knowing little about it…that was to sell when its overbought (top line) and buy it vice versa…but I stopped using it when its not always happen as I thought…
Rel
This thread has really turned around my whole mentality about trading. Its funny because the stuff we’re trying to use here is actually how I apply a lot of my life. With anything I always try to understand it at its base when I’m using it, such as when i’m driving i’m always thinking about how the engine works and whatnot, but with trading I just got so overwhelmed with all the stuff a lot of beginning traders get caught up in and I just started trying to apply everything, each time I read about a new indicator i’d add it to my charts.
Eventually I got to the point there was wayyy too much stuff on my charts, and now after my first read through of the thread I just started from blank and only put the Modified Barros Swing.
I kinda wish the markets were open during the weekend so I could get more screen time xD cause damn I work a full time job during the week for an internship and I can really only get around 3 or 4 hours of screen time during the week.
what is every one in here studying in school?
rel will you be checking this thread once in a while? cause I wanna be putting up charts here with my analysis prolly once or twice a week and would really appreciate it if you could give me a review/opinion on them?
In reality, the markets are indeed ‘open’ on the weekends… wink
I study Information Technology.
Its good that you are in touch with reality that trading is a business. One has to find some way to ‘make it work’, just like another job. The basic idea is almost likened to a business plan (note, NOT strategy).
Don’t be decieved by the issue of becoming rich or whatsoever. Don’t be decieved that one will achieve freedom because of trading/money. If one gets to that kind of mental state, trading aren’t going to work out (the irony, yes). My upcoming long post will explain that.
As a free man, I am just as busy as you are.
For the past 2 years I focused on trading while still holding my day job (which pays me well). I continued learning as much as I could on the weekends. I also had part time university studies, but the lessons are pretty relaxed.
A typical weekday for the past 2 years :
5am wake up and wash up
530am do some basic analysis, maybe open a position
630am leave house
745am reach workplace, look at position if any
12noon lunch, look at position if any
5pm look at position before going home
630pm reach home, wash up
730pm look at position if any (if position is still alive by then, its usually with profit), start day-trading
12midnight sleep, close all positions or leave a strong position open (i want to sleep in peace)
If I have university lessons, which is held once or twice a week, then it takes over 7pm to 10pm, then I would start trading from 11pm to 1am. This also means I have to put trading aside during examination periods.
But 3rd year university is going to be different. The lessons are going to be tougher, so I decided to wise up and trade less intensively, or even not trade at all until I am done and over with. I do, however, want to keep some basic touch with the markets for the time being. Maybe scale down to micro lots or something.
Moreever, as a young man, I am currently seeing someone. I have to be sure she is ok with the idea I intend to be a trader in the future.
For my weekends : I also meet with young people, regular and personal basis (at least twice a month), who inspire to get somewhere in life. I enjoy my time with them whenever I see them.
I also meet a bunch of young but hardworking lads once every 6 months, for some personal time hanging out together. They always want to know what I am thinking and what I see for the future, so I don’t mind sharing it with them. I like their ‘never give up’ attitude, so I intend to keep up with them.
Spending time with family too. This one doesn’t go away. Its mandatory.
The remaining time I have, I play the guitar and tin whistle. I am no expert, but I manage to play songs I like.
You can see I am not in a rush to get anywhere, even thou I have plenty of things to do. Just letting certain things flow into the right place. Even thou I am just damn busy and loaded, I managed it pretty well so far I guess. Trading is a business, yes, but there are also other important things in life. Find some way to ‘settle’ them. If you can’t, trading might not be for you (at least at this moment of your life).
Its highly probable after 2 years, I would have a university degree, have a sizable sum of money as trading capital, relevant work experience in Information Technology, have sufficent experience to go trading full time, and matured lots as a person. Kinda can do everything and anything I want.
So I don’t mind taking pacing myself in this manner.
I will check this thread whenever I can, just that I won’t be so intense/focused on weekdays.
well this thread is sorta dying lol
but i thought i’d report how i’m doing, I’ve been making very good improvements and I’ve been developing a pretty good system from this. This morning I “predicted” a bounce and made a good 80 pips off it :D.
) to be sure to understand the concepts.
