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method / indicator to spot tops and bottoms
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method / indicator to spot tops and bottoms

  #11 (permalink)
Elite Member
Phoenix Arizona
 
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If you are a beginner, like I am, picking tops/bottoms is a waste of time. It seems to always go MUCH higher than I think it will and MUCH lower also. Or as I posted on another thread, I will be sure it is going WAY lower, and sure enough it bounces and takes off the other way.

IMHO, If you are trying to catch trends, you don't want to try and just get out at a low/hi. I think we are way too worried about them, because in a true trending market they will blow right through them. Perfect example is the market we are experiencing now, with new highs day after day.

This is my opinion of course, and everyone has to find their own way. Best wishes to you.

Ddawg

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  #12 (permalink)
Trade Wise, Trade Well!!
Des Moines IA USA
 
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Ddawg View Post
If you are a beginner, like I am, picking tops/bottoms is a waste of time. It seems to always go MUCH higher than I think it will and MUCH lower also. Or as I posted on another thread, I will be sure it is going WAY lower, and sure enough it bounces and takes off the other way.

IMHO, If you are trying to catch trends, you don't want to try and just get out at a low/hi. I think we are way too worried about them, because in a true trending market they will blow right through them. Perfect example is the market we are experiencing now, with new highs day after day.

This is my opinion of course, and everyone has to find their own way. Best wishes to you.

Ddawg

I agree that picking the reversal points are tough to do, especially when starting out. The market always seems to have an extra push or two before really making the reversal. I would suggest that you pick the trend direction and try to pick the pullback points. If you are correct about the trend, then even if you are off a little on your entry, you have a good probability of a stop holding and getting a winning trade. You still need to watch out for trend reversals that would have the market come back and go against you.

Just how I like to do it. Hope this helps.

Trade Wise, Trade Well

John
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  #13 (permalink)
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Intra Day or Swing?


Is this for intra day or swing? Look at price action pattern//trend development.

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