In your last thread, you are way over thinking things, use ur fork and HH<HL<LL<LH<DT there is a code in TOS that will plot them as they form on your chart, Might be called Price Swings etc. In the beginning NO dont place your stops at top or bottom of your lines because price might not get there(but it"ll get close be safe come in a little. And really your fork system isnt bad on chop days use the big fork shoot it from left to right on your screen once highs and lows are defined then use your smaller fork to scalp. You ve got the basics no one is going to tell you A,B,C to trading you ve got to get it from here.
I actually like your big dipper technique , its similar to mine
Dont follow you, but Ive been playing around with your fork, it will work you need to have another mean(another guide line on your charts thats why I suggested the MA's......Also when you pull the ABC points if price action doesnt run with it, keep trying the fork with MA shows you chop if you read it right wait till ABC line up with PA and run with the trend....
basically CAT out preformed the market with gains for the for the day when the market was down.
i had tried to post my thoughts on this.
What I did was assign a number to where in a fork price was currently yesturday and where it ended up today.
So if it was at the bottom of a pitch fork ( the lower parallel line) i would say it was at 0 % if it was at the median i would say it was at 50% and at the top i would say 100%
I wrote a percentage for each fork in each time frame. Based on previous days bars and also where we ended up today.
so i am trying to make a chart with colomns like:
monthly fork: 20% heading towards median : hit median next day50%
weekly fork 40% heading towards 2 intersecting medians :hit median today 50%
Honestly the whole thing is a mess its really hard to assign a number to everything i see, i keep adding in columns like "multi fork" and such.
The whole thing is a huge headache. I will have to look at each chart in every time frame make a note of it and then proceed to update any broken charts. So each stock would need 3-5 views and then keep track of it.
Now the other issue is the moving lines. Let me explain a bit.
when i draw a fork in say a daily chart one of my lines clearly cross todays bar, when i have a look at the 5 min daily chart there is no line going through it . the line is well below the days range. and in the hourly chart the price could be above the days range.
It is interesting that it may be possible that these lines are some how still valid even though placed incorrectly some how.
I would love to do a test with people that use other platforms and even people that use think or swim to see if it is a universal problem.
If you would like to test let me know i will post an example that you could duplicate.
the other issue is that i cant really play monthly or weekly lines as i just cant trust the lines. i have to look at them in the monthly view which is really hard.
i saw some posts above that could siplify things quite a bit
let me start off by saying ur the first Ive replied to in this way. Its up to you to see what the chart is telling you, hope my chart helps you in some way>>>>> Look at my chart, dont look at the bars etc look at the white dotted 20sma, each of the pitchforks that are straight up didnt line up with PA in the channel and the 20MA is flat wavy, means chop the first fork drew on at 11:07 would have worked but it reversed, I always wait till after it crosses and goes positive to go long, you see on the second @ 4:25 it started in the middle of channel,20 going up PA has crossed 20 then it climbs breaks the fork mean, then you have two options exit on red bar which the dark grey is resistance on my chart or wait till it breaks lower band which could have happened at 6:55 is it had reversed, ur chart will be different from mine but this will give you something to go off of.
Also there is MA on the bottom of mine charts just a FYI, I really trade off a tick chart along with this one, this one shows you direction a little better but I read PA off my tick
Check out the other thread, Good Luck with your quest
yes i think i saw it and he had a site. it was interesting with alot of info but didnt go in to how to work on the risk to reward ratio and how to keep track of trades. it is the this that im trying to accomplish. the actual entry is not as important but i must say that i am seeing new things by forcing myself to look at multiple time frames