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How complex are your entries?
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How complex are your entries?

  #1 (permalink)
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How complex are your entries?

New poll posted on forum homepage, vote there and discuss here.

How many pieces of information do you evaluate prior to putting on a new trade?

Mike

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  #2 (permalink)
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  #3 (permalink)
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For actual entry...3-4

As an area to place a trade....

Market state (trend or range)

Previous areas support and resistance.

Volume.

Price action is boss.

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  #4 (permalink)
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I use a modified Perry Method and thus have a collection of moving averages on numerous charts with different time frames - this is why I reported multiple criteria, counting each MA on each chart

I also look at price action, bar direction, volume, prior swings on higher time frames, time of day, scheduled reports and over all trend direction


what is your criteria?

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  #5 (permalink)
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Every candle is a piece of determining information. I think the better question is, how do you reduce these pieces into priority?


Last edited by Itchymoku; October 12th, 2012 at 10:18 PM.
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  #6 (permalink)
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Incredibly surprised by the votes so far, where half of people are saying 1-3 things.

I very quickly counted in my head and came up with about 14 criteria I look at before trading. And only one of them is a traditional indicator (RSI) which I don't even look at unless price has made a recent swing high or low. The rest are all based on my definitions of trends, value, channels, relative strength/weakness, price action, etc.

Please bear in mind, I am placing 1-2 trades a day per product and am not scalping. I understand most people on the forum are scalpers, so they would not have time to evaluate 14 things before placing a trade.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #7 (permalink)
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Big Mike View Post
Incredibly surprised by the votes so far, where half of people are saying 1-3 things.

I very quickly counted in my head and came up with about 14 criteria I look at before trading. And only one of them is a traditional indicator (RSI) which I don't even look at unless price has made a recent swing high or low. The rest are all based on my definitions of trends, value, channels, relative strength/weakness, price action, etc.

Please bear in mind, I am placing 1-2 trades a day per product and am not scalping. I understand most people on the forum are scalpers, so they would not have time to evaluate 14 things before placing a trade.

It is a question of how you define things.

When trading (doesn't matter scalp or position) a BPC setup, then you have the breakout, waiting for the pullback to the support, placing the trade to profit from continuation.
Not many decisions.

But of course if you would count all things that you checked (beginning a few days back), then the number would be (no surprise) 39.

It is just KISS to have only few criteria for the final decision, as otherwise you will leave the table hungry.
I think that voters did think about those final decision criteria and didn't start with Adam and Eve.
I did vote for the maximum, as I like to start with Eve

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  #8 (permalink)
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Poll closed, results:

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #9 (permalink)
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Can't see screencasts in Tapatalk.

Regards,
Neil.

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  #10 (permalink)
Site Administrator
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NW27 View Post
Can't see screencasts in Tapatalk.

Correct. Solution: Use the website

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote

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