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Holy Grail
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Holy Grail

  #311 (permalink)
Elite Member
Tucson AZ
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Interactive Brokers
Favorite Futures: es
 
Posts: 123 since Jul 2009
Thanks: 31 given, 133 received

Lolu,

Not to offend you, but it sounds like you may need to acquire some basic candle stick/chart reading skills. As mentioned in a previous post, I am a candlestick guy.

The candlestick, trend lines and fibonacci retracements compose about 90% of my trading decisions. The oscillators that I love playing with only provide after the fact confirmation. If the run in price action is long enough they are great, but remember they are based on price action, so why not just learn to read price action.

I will mark up a chart this weekend and put it out to cover a few points, remind me if I forget.

A great book that just came out is "READING PRICE CHARTS BAR BY BAR" by Al Brooks M.D., but if you are new in the trenches this book is not a starter book. Infact, without some basics, it is over a lot of peoples heads.

Garry

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  #312 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
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GarryM View Post
Lolu,

Not to offend you, but it sounds like you may need to acquire some basic candle stick/chart reading skills. As mentioned in a previous post, I am a candlestick guy.

The candlestick, trend lines and fibonacci retracements compose about 90% of my trading decisions. The oscillators that I love playing with only provide after the fact confirmation. If the run in price action is long enough they are great, but remember they are based on price action, so why not just learn to read price action.

I will mark up a chart this weekend and put it out to cover a few points, remind me if I forget.

A great book that just came out is "READING PRICE CHARTS BAR BY BAR" by Al Brooks M.D., but if you are new in the trenches this book is not a starter book. Infact, without some basics, it is over a lot of peoples heads.

Garry

Thanks for the book recommendation, I'm going to order it. Sounds like just what i need.

These indicator-based strategies of entering when all colors are the same are amusing but I'm afraid they're leading people down the wrong path. I even got sidetracked on one of these paths recently. I've yet to see any proof that trading when several indicators are in agreement can be profitable without any discretion. And discretion means price action.

 
  #313 (permalink)
Member
canada
 
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those wonderfull indicaors they work more often that not and that is very very good
for a 1 screen trading system

 
  #314 (permalink)
Trade with the flow
Paris, France
 
Futures Experience: Advanced
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hanaa View Post
those wonderfull indicaors they work more often that not and that is very very good
for a 1 screen trading system

Could you post some charts with the trades marked? I'm interested, just skeptical.

 
  #315 (permalink)
Elite Member
Lagos, Nigeria
 
Futures Experience: Intermediate
Platform: NinjaTrader, SierraChart
Favorite Futures: Euro Currency & Oil
 
lolu's Avatar
 
Posts: 2,440 since Jun 2009
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GarryM View Post
Lolu,

Not to offend you, but it sounds like you may need to acquire some basic candle stick/chart reading skills. As mentioned in a previous post, I am a candlestick guy.

The candlestick, trend lines and fibonacci retracements compose about 90% of my trading decisions. The oscillators that I love playing with only provide after the fact confirmation. If the run in price action is long enough they are great, but remember they are based on price action, so why not just learn to read price action.

I will mark up a chart this weekend and put it out to cover a few points, remind me if I forget.

A great book that just came out is "READING PRICE CHARTS BAR BY BAR" by Al Brooks M.D., but if you are new in the trenches this book is not a starter book. Infact, without some basics, it is over a lot of peoples heads.

Garry

Garry,

Yeah, I don't like Candle stick trading style ( ala DOJI, DRAGONFLY DOJI, SPINNING TOP, HANGMAN, HAMMER, SHOOTING STAR, INVERTED HAMMER, etc), and I don't want to trade in this style. However, I like and have a good understanding of the OHLC bar chart style. A successful RMMA (Rainbow Multiple Moving Averages) trading style may not require a single candle on the chart. The rainbow formation are price actions. Fibs fails. I love PIVOTS, SUPPORT/RESISTANCE, TREND LINES (channels, pennants, etc), and VSA (Volume Spread Analysis), and I want to trade in this style. I hate indicators and robots. I want to have two charts (one "Short Term", and one to see the "Big Picture") with only Sharky's ECO2NEW_Paint_sharkypkg (the most reliable and accurate indy I have seen so far in this forum) with "Auto Trend" lines as indicated in your (Garry's) chart. And that is the reason for my interest in your setup. I'm not at all offended; we are all learning how to improve our trades. I was just following up from the DMA_Paint_Sharky arrows you mentioned earlier. You will note from my snapshot in post #312, that I use "HiLo" Chart style because I don't like Candle sticks.

So, please post your chart and we can all learn from it.

Lolu

 
  #316 (permalink)
Elite Member
Tucson AZ
 
Futures Experience: Intermediate
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My chart is posted #300.

 
  #317 (permalink)
Elite Member
Lagos, Nigeria
 
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GarryM View Post
My chart is posted #300.

Garry,

I'm referring to the chart you say you "will mark up a chart this weekend ...."

Lolu

 
  #318 (permalink)
Just starting out...
Prague
 
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Posts: 23 since Aug 2009
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HI Garry nice chart I was wondering if you could post a template so I could just load it up one click. Thanks.

 
  #319 (permalink)
Elite Member
Tucson AZ
 
Futures Experience: Intermediate
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Favorite Futures: es
 
Posts: 123 since Jul 2009
Thanks: 31 given, 133 received

That is 3+ days from now, if I don't have it posted by then send me a PM.

Thanks,

Garry

 
  #320 (permalink)
Elite Member
Tucson AZ
 
Futures Experience: Intermediate
Platform: Ninja
Broker/Data: Interactive Brokers
Favorite Futures: es
 
Posts: 123 since Jul 2009
Thanks: 31 given, 133 received


Gregor32,

Here is what you requested.

I will start a new thread when I have time (maybe a week or 3). I'll call it READING PRICE ACTION. In the meantime, study Steve Nison, Gregory Morris.

It's a privilege to be in this forum but I have very limited time and will not be able to answer any more questions in this thread at this time.

Thank you,

Garry

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