What Really Works From One Professional - page 70
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Taters
Thanks for that info taters. That's made things clearer.
This thread is in esscence about the v & the first couple of moves from the London open.
At first I was watching it AND seeing it but tbh of late I think i have gotten a little side tracked & headed off course a little. In fact I don't think, I know i have strayed off course so todays posts have been worthwile in making me realise.
I suppose the V is like one of those obscure pictures that you have to stare at for a while before it reveals it'self to you. Through the day I sometimes sit there & think to myself "How the hell did I miss that" !!!! "it was so obvious" & then I think I have been playing catchup for missing it.
If it takes me a year of watching before I start to make some good money then it will be worth it.
I think if we could focus our attentions on spotting the "V" & identify the setup we will be happy traders. If you go back through the charts it's nearly always there but as we all know the hard part is spotting it forming up real time.
neuimex template
or if our meta trader platform runs on the same time zone
this template merely draws the vertical lines at 8am and 9 am to give you an idea of what the price action is. I just submitted a request for an ind that does this but we will see.
There was a very flat V at the London open on Friday
You can see it more on the 15 min chart and the 14 CCI picks it up great with the move taking off on the TLB.
Price had stoped dead at the S1 pivot and it was also at a 161 fib.
It also has a DDR zigzag as well, they do repaint a bit but its a interestiong tool.
Lets face it, if it was perfect it would be worth millions
Mart
Thanks for that info taters. That's made things clearer.
This thread is in esscence about the v & the first couple of moves from the London open.
At first I was watching it AND seeing it but tbh of late I think i have gotten a little side tracked & headed off course a little. In fact I don't think, I know i have strayed off course so todays posts have been worthwile in making me realise.
I suppose the V is like one of those obscure pictures that you have to stare at for a while before it reveals it'self to you. Through the day I sometimes sit there & think to myself "How the hell did I miss that" !!!! "it was so obvious" & then I think I have been playing catchup for missing it.
If it takes me a year of watching before I start to make some good money then it will be worth it.
I think if we could focus our attentions on spotting the "V" & identify the setup we will be happy traders. If you go back through the charts it's nearly always there but as we all know the hard part is spotting it forming up real time.Jimmylad,
I dissagree with you here a little. Yes, we are here to gaing tje most amount of pips consistently and tha comes from not only finding a market door to take advantag of. It is not just V. At least, it ino V for me. I did know Kathy's strategy when her book came out. For me, it is morea bout trading and making it an effective and consistent business. I venture to say that V will stop working eventually like any other things that had worked in the past. And there is nothing wrong with that. With the knowledge wa re attaining here and the tools that we are learning you will know ahead of time when that happens and more importantly you can develop your very own strategy Z, Y, K, M whichiver one you want. And that is the power of what we are discussing here not just amere V pattern. Because if it was just a V then why would you have to use 15 indicators and 3 platforms? I am sure we could all simplify it.
In my view is just playing filed to learn and gain your experience, then making it your own with this strategy or anyone you choose for yourself. But you have to work for it. Be a student of the game. If you had all JD knowledge, that would not guarantee his success. That is why he could not make it simpler. There is work involved not just to spot V but entering on time, managing the trade, staying patient and exiting in time. Sounds simple? No way. JD makes 2-3 trades. I make 8-9. So there is a room for improvement for me. But that is exactly what we are here to gain. And who cares that some don't understand it. Let them trade cat50 system (No dissrespect was intended).
You don't need any indicators other than price action itself. A simple 123 has worked fine for me this week on several occasions.
Wait for price to set off after 7AM BST, wait for it to change direction (the possible vee starting) and enter after a 123 on the 1 minute chart.
I'll post a chart tomorrow when i'm on my desktop with snagit
Regards Chris
I agree, I think we should get back to learning this system in this thread. I have read this thread front to back many times, read elliott wave, dinapoli, murrey math, and other documents. I probably would have not read any of that if it wasn't for this thread. I know alot more now than when I first started reading this thread, just by reading, but I still have questions and don't understand it completely.
So maybe some of the ones who do understand it can keep this thread going.
My questions are:
When the DT ZigZag keeps repainting how do you know when it's through, and when to enter trade.
What is used, to determine when it will reverse.
I have used elwave and would like to know what is the most accurate amount of data to use and for what time frame? 1m data or 5m data or etc
I believe there is money to be made in this market and I won't give up learning.
Also thanks JD for your time and input in this thread, I wouldn't have learned what I do now. THanks
Supa
I didn't necessarily mean as an actual "system" to trade by, I was describing what JD has taught in this thread. If you want to call it system, strategy, perception, etc.
Sorry I didn't word it exactly correct.
My questions are:
When the DT ZigZag keeps repainting how do you know when it's through, and when to enter trade.
What is used, to determine when it will reverse.
SupaHow about if we try these filters/confirmations, JD already posted about these, too.
1. Divergence and hidden divergence
2. Stochastic/MACD crossing
3. Stochastic oversold/overbought
4. Trendline breakout
5. 123 system
I like 123 system or abc correction in Elliott Wave Theory, because it is very simple.
Any input ?
I didn't necessarily mean as an actual "system" to trade by, I was describing what JD has taught in this thread. If you want to call it system, strategy, perception, etc. Sorry I didn't word it exactly correct.
Supa,
My apologies. I didn't mean anything bad by my post. I've just had a change in the way I think about trading, and so I just kinda wanted to share that with people. Your post just happened to word things perfectly to illustrate my idea. Nothing personal was ever intended.
Most of us call everything a system. I know I do, but I'm trying to change my brain to start thinking of trading strategies as models, instead. Systems, you follow, Models, you trade. Maybe it's just silly, but it helps me.
So, again, I apologize. I never meant any offense by my post.
Good trading to you,
Keris