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I hate strong trends
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I hate strong trends

  #11 (permalink)
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Anagami View Post
Even in strong trends, you can usually find good pullbacks on shorter timeframes. Say, if you trade 5 min and the trend is strong, look for a pullback on 1 min.

That's true. But if you trade that way in a market that's offering weaker trends with larger pullbacks, then you might be stopped out a lot.

Moving to a different timeframe is a good way to adapt your trading to different market conditions but the key is knowing when to use one timeframe versus another.

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  #12 (permalink)
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worldwary View Post
That's true. But if you trade that way in a market that's offering weaker trends with larger pullbacks, then you might be stopped out a lot.

Moving to a different timeframe is a good way to adapt your trading to different market conditions but the key is knowing when to use one timeframe versus another.

No substitute for experience.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
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  #13 (permalink)
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Anagami View Post
No substitute for experience.

That might be what it boils down to. I try to break these decisions down into objective guidelines but it's very difficult as there are so many different variables involved. Sometimes you just have to know it when you see it.

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  #14 (permalink)
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worldwary View Post
That might be what it boils down to. I try to break these decisions down into objective guidelines but it's very difficult as there are so many different variables involved. Sometimes you just have to know it when you see it.

It is an art to find out, whether the market is in breakout/trending mode or mean reversion mode. Probably one of the most difficult things to do. There is a number of factors that have an impact:

-> prior day (balancing, reversal or trending day)
-> expected news releases
-> POMO weeks
-> time of the day
-> night session volume
etc.

I have found that the FOREX markets, if they trend, will reliably continue this trend for some time, so that would be a good environment for pullback trades. However, they do not always trend.

Would love to have a more simple method to determine the market's mode.

By the way it is all about targets. If the market is trending, you need to let the profits run, otherwise you don't.

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Not sure I understand the problem with strong trends

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I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #16 (permalink)
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ThatManFromTexas View Post
Not sure I understand the problem with strong trends

Attachment 37118

I am not sure whether you are capable of following a trend, as you always express some contrarian views.

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  #17 (permalink)
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ThatManFromTexas View Post
Not sure I understand the problem with strong trends

Attachment 37118

I thought you thought this price action was choppiness

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  #18 (permalink)
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Consider trading moves rather then trends? There are up and down moves, in down trends, up trends, in ranges, in every type of market environment, as long as the market is moving. I never know the overall trend of the instrument I'm trading beyond the 150 bars or so on my trading chart.

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  #19 (permalink)
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Fat Tails View Post
I am not sure whether you are capable of following a trend, as you always express some contrarian views.

Ok... I am Contrary by nature ... but ... I'm a trend follower... because I'm too lazy to look for new trades all the time...


trendisyourfriend View Post
I thought you thought this price action was choppiness


I've never been able to get a consensus from traders on exactly what constitutes "Chop" ...


If you can trade it for a profit... it's not chop...

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #20 (permalink)
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ThatManFromTexas View Post
I've never been able to get a consensus from traders on exactly what constitutes "Chop" ...

I've never been able to get a consensus from traders about anything.

One man's long is another man's short.

"...the degree to which you think you know, assume you know, or in any way need to know what is going to happen next, is equal to the degree to which you will fail as a trader." - Mark Douglas
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