Advanced trading lessons - page 56
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Boe
I think drawing of new trend lines can be very subjective, especially when it can affect how to takes trades off it. This goes the same for channels. Do you think we should take the first two points of the higher time frame candles to initially draw our trend lines and channels?
Here I have attached a M5 with H1 & H4 overlays. Since I used the first two H4 overlay candles in change of trend we could have had some really good trades on the M5 charts trading from lower to upper channel.
This channel acted perfectly but if I used different points do draw the channel the results would be completely different. So aint this a bit subjective or have I missed the point completely?Instructions for dummies,
Just wait after the fact,then draw the most convenient one,if any.If you don´t find one,just switch timeframes till you do
.
Why do you think the naked genius is posting old examples and none real time? Because he doesn´t want to blind you with his brightness?
If so,I have a bridge to sell in San Francisco...Interested?
S
simba
simba there are people here who want to learn to trade. not receive a signal service.
learning to trade and teaching people to trade this good is not easy. it takes a lot of time and effort.
now what good would it do is all i did was tell people i would teach them to trade, and just start with the right side
taking trades before they learn to trade. then explaining things after words. how fast do you think traders would learn?
not very fast. the best way to teach is looking into the past. how do you expect me too teach the complete scope
of the trading world one trade at a time? it would take at least a year! if there is smarter approach and quicker way
then thats how am going to do it.
if you find this stuff to difficult ask for help do not be a down trend!! be an up trend for once will ya! at least range for awhile!
hold your ponies. i will trade when i can, but first things first. i just did not come here to show off. i came to make it so
all of you can be traders also. i know you want to see live trades. i could stop right here and just post trades from here on out.
guess what traders would be feel great that i do this. but what about them? what about the knowledge they need to do this on there own?
the only reason you need proof is because you refuse to back test what i am teaching on your own, stop the laziness.
come on down trend, just stop and be patient.
meek
great question lets start.
first step is this. all freq. in the best trending weeks lets say all range to a degree!
in trending week, 50% of all candles are range candles or candles against the trend. this is an approx. figure
but very close to accurate trends give or take a few. so for mediocrity we will say 50%
now that is trend candle! the difference is the range the candle produce. with trend candles have a larger range
counter trend candles a smaller range and more of them overlap.
that's a trend.
so if we are down on the 5 minute time frame then and trading core is based on days. then that means we have
approximately 12x 24= 288 candles on five minute chart in which 144 are counter trend candles.
so for the fun of it i just looked at a daily chart trending candle and counted the amount of counter trend candles inside
i just picked one. guess what 140 counter trend candles.i already knew that, though.
what this mean is this: that even though the inner slopes of 5 minute time frame has the same characteristics as all trends
the fundamental difference that differences this time frame from the others is that it is so low that physical price
ranges last an immense amount of time when rejecting slope. so what happens is the distance the ranges last sideways
is so lengthy that any comparison made: physical price to an over lay time frame is distorted latterly!!! to an upper time frame.
so in other words it so decompressed when looking at physical price on this time frame that strength and weakness lines drawn
are pulled apart from each other on a wide band width. to wide for smart comparisons.
that's not to say the characteristics of channels and trends are not there they will be on all freq. but confluence lines will be rare.
because of the decompression factor on such a small time frame. now the best time frame for like monthly replacement
analysis would be the two hour time frame, but mt4 failed us there. so we forced to use the 4 hour as like our containment
analysis.
unless some one develops a fix for mt4 showing 2 hour time frame that actually works. i would love an 2 hour time frame overlay
that updates with time.
thats not out there yet.
is this first part clear? try placing the one on the 15 minute and check out confluence points and see if you get better results.
send a shot out. and let me know if this would have been more confluent physical price compared to the over lays. kick
the four in, with another shot. let me know if this is more beneficial to you. i know it is. but i want you to investigate it.
so your brain actually can pick up on the confluences. you seem very smart by the way.good question.
even though i did not totally answer it yet. and in way i did.
i will wait to see what you find first. though before i say any more.
;LKJ;LKJ;lkj;kj;lkj
Boe,
Sorry for your troubles... Boe, delete your personal info from the thread. That is not a good idea. Boe, seek out some counseling... I had some big personal setbacks in my life a few years back... and I resisted speaking to someone... it helped when I finally did.
Hello Boe, I was going to say it's nice to see you back and it is in a way but there are some things that should be private and there's a time and a place for things, this is not the place so I am not going to comment on the personal topics you have have discussed. It's not any of my business, and to be honest you saying that you cannot trade because of it and using it as an excuse I think is a little bit crass..you have managed to find hours and hours enough to fill post after post with elaborate and specific information, but still can't find an hour for one trade.
Back testing is useless as it dose not give a true representation of what will happen in the future, only walk forward testing will do this, real time testing. You have only not forward tested this strategy but you have never traded it, that much is quite clear.
you know
yea not good
trend changer
too bad not good
Ok Boe
Ok Boe,
I've changed my charts as you have suggested and I understand more or less about the decompression part of the M5 charts. Here is my new charts using the M15 tf with H4 and D overlays. This one is looking at the previous days of trading trying to asses what would have happened in yesterdays trading.
This is what actually occurred, indeed a advertised closed on the upper tf.
Finally a little prediction of what might occur in the next trading day
Let me know if I am on track?
On a side note, sorry to hear about your personal problems and I am glad you took TrendChangeTrader and Philt's advice and removed it. Hope it all works out for you.
Everyone have a good weekend!
meek
regardless
regardless of what i said i think of all of you as friends, sorry about what i said.