Advanced trading lessons - page 69
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the reason
the reason i had to get out of my short with very little profit was!!! i had to have enough
momentum to move my stop in favor! knowing that this was unlikly at the time... i had to take
what the market gave me. sure enough if i tried to lock it in, i would have been with no profit.
level was right on the money but timming is a huge part of things!! timming slaps me in the face
a lot latly...
my point is this! getting the concept down will get you on slow winning path!! but learning to trust
your gut with it will explode your account, and make it grow fast!!
as every one can see how timming has had me miss some opertunities i knew was cumming.
well i have to get better at just going with my gut!! this will make the differance for me.
the differance between slowly biulding my account, vurses a fast growth!!
i love to learn
some of the reason i got as far as i have is: i love to learn about trading!
# i have not stopped learning to this day.. not only do you learn about trading bu you learn a little about your self in the processes. later i want to talk about somthing that i tuched on learning a few time before, but just recently
started to really understand it.
i will explain soon.
i believe
i believe i talk about this earlier in this thread, but only recently was able to actually think
about this subject in a more realistic way!!
if i recall i talked about how the market will very often. durring consoldation narrow its range.
then i talked about how the market would break out of that range trap traders then go the other
way breaking the other side of that narrow range.. then trap traders on the other side then move
back inside that narrow range and rest.
what my brain is starting to process is: that this can happen fast with one two or three candles,,,,
or this can happen with several candles..
But the resualt is the same.
originally i called the a bollinger band volatility trap. speeking of timming!!!!!!!!!!!!!!!!!!!!!!!!
bollinger band traders look for incresed volatility for timming, some times it works.. other times
it's a trap.
now my brain has learned some time they increase the spread of the markey with several
small candles and rest inside the range... not to alarm volatility..
but the resault is the same.. because instaed of trapping bollinger band traders in thiese cases they trap
break out traders anyways.
i will show some examples.
the reason for doing this work is: to help with your brain being able to go with what your gut is telling you.
in this shot
in this shot i will show some decreased volatility, and how the market increased it in both directions.
before te up move started.. this example kills the volatility traders..
so one of the things we can do when we see a break to increased volatility is prepair to enter the market
on a down side trap near some tricky support level ( or refined support level) close by !!!
like a stradagy in you arsonal!! for timming!!! knowing what time frame the pull back is asotiated with
is another subject i will cuver later!!
to help answer questions like? how deep is this increased volatility? is this a trap on the four hour or
is it a longer type of pull back dictated by a larger time frame? i will talk about this later!!
lets first look at an example!!
in this first shot simply show a decreased
volatility then an increase in both directions... just to show you what happens!!
by the way
i will show you some trades i have sitting in the market after this chat.
what is important is:
the important thing to notice in this last shot was the large range up candle right before the small
range triangle!! this candle screams long all day!! what happens after a screaming out loud candle!!!!!!!!!!!!??????????????????????????????????????
the timming into the market on increased volatility is nothing more than a volotility trap!!!!!!!
after taking the money then the market moves!! next shot!
now
as good stradagists what can we do to take advantage of this situation?
well after a signal in wrong direction expectially if that signal seamed to bonce a bit off of obviouse
support..
then we we look below that obviouse support and place a pending order a little deaper at at refined support level.
use a fairly tight stop. 6 to 10 pips and let your nasty deviouse brain ride on that kind of risk!!!
this shot shows refined support just below obviouse support...
obviouse line is on the week before closeing price!!
ok
now what time frame can you trust the actual pull back is being deveoped on?
this may seam like a imposable qeustion to answer!! but it's really not!!
now 50% of all candles are counter trending candles in a trend. the diffance being trend candles
ussually have a larger range!!
so if you are trading four hour time frame with weekly overlays and the week has been going
no where as far as trend side streagth for close to most of the week.
then finnally you get a good four hour candle that supports the trend.
the risk can not be a daily pull back range it has to be four hour range.. because there is not
enough time for the candle to have anouther day of pull back ability..
unless the complete week is counter trend week. so the only way it can be counter trend week is:
if the market has gone to strong or it has broken containment of a trend line and is about to shift
it's channel.
so investigating that can be tricky for the simple fact is we know a trend likes to break containment
and then x trade back inside the trend line. so it's a risk!!
but point that you can risk on the smart side of trading where you will winn more than you loose!!
thats a smart risk!!! so the risk is less even if containment has been broken!! that reduces your
chances of being in correct.
so this is sound simple stradagy in your arsanal!!
now for some actual
now for actaul trading places in a few minutes