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the easy edge for beginner traders


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the easy edge for beginner traders

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  #1031 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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Hi there...

I attempted to do this drawing of trend lines myself and wanted to get some feedback. Does this look correct? For MAs, I just used 13 for the fast number since it's a Fibinacci number and multiplied it by 2 to get the higher number. No clue if thats ok or not.

At any rate, if someone could look at this and tell me if I'm on the right track, I sure would appreciate it.


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  #1032 (permalink)
Al,India
 
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Allistah View Post
In the image here, you show trend lines 1 and 2. When you have a line set sand a new high or low is made you just move that trend line and not make a new one like in this image? I think you had both in the image to show how it was moved after a new high was made but wanted to just check and make sure. Banks again, this image was most helpful.


-Alli

Sent from my iPhone

Yes...it was to make clear how trendline shift. 1 and 2 are two instances of trendline corresponding to two highs 1 and 2. In reality it will be only one shifting as new high/low continue to form.

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  #1033 (permalink)
phl pa. usa
 
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looks spot on-and ma #s look good too
dont be afraid to try other ma #s and time charts




Allistah View Post
Hi there...

I attempted to do this drawing of trend lines myself and wanted to get some feedback. Does this look correct? For MAs, I just used 13 for the fast number since it's a Fibinacci number and multiplied it by 2 to get the higher number. No clue if thats ok or not.

At any rate, if someone could look at this and tell me if I'm on the right track, I sure would appreciate it.



:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #1034 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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Ok, so what are the entries and exits? Would it be safe to say that a close of a bar outside of the current trend line would trigger an event? Is that the basics for trading this? If so, are there others as well?

Also, do you take in consideration other time frames at the same time? Or do you do trade one time frame at a time? I'm trying to look at 2-3 time frames to line up my existing trades and it is indeed difficult. One time frame would work a lot easier...

Since my trades last 3-6 trading days at the most, I was thinking maybe a 2h hour chart to do this one. I'm looking at a 1h chart now but that might be too small for trades that need to last 3-6 days. Any opinions on that?

Thanks,

-Allistah

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  #1035 (permalink)
phl pa. usa
 
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thanks plethora!
Creeker tells me to post what my thoughts are on here sorta like a journal. I do have some notes too. This is kind of fun/boring at times so not sure i like it. Writing on here helps!


plethora View Post
Forget the reasons :las er:creekiedictator "cd" keeps you around and don't stop soaking up the opportunity like a sponge. This experience is a turning point in your life bigger than you can imagine right now. But I'm confident you already knew this little detail and were just horsing around from the
u
Why don't you invest in one of those spiral notebooks you take to class with you and use it as your own personal journal?! Then you can tell cd and the rest of the world:



:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #1036 (permalink)
phl pa. usa
 
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Look in the body of your message for response


Allistah View Post
Ok, so what are the entries and exits? Would it be safe to say that a close of a bar outside of the current trend line would trigger an event? Is that the basics for trading this? If so, are there others as well? ***On options and on larger time frames, our entry is two bars outside MA crossings and your exit is always ALWAYS the break of the LAST lower hight*****

Also, do you take in consideration other time frames at the same time? Or do you do trade one time frame at a time? I'm trying to look at 2-3 time frames to line up my existing trades and it is indeed difficult. One time frame would work a lot easier... when looking for major trends, we often stack charts to look at them at different time frames

Since my trades last 3-6 trading days at the most, I was thinking maybe a 2h hour chart to do this one. I'm looking at a 1h chart now but that might be too small for trades that need to last 3-6 days. Any opinions on that?
I would be anywhere from 30 min charts to a 1,2, or 3 day chart
Hope this helps :sos:
Thanks,

-Allistah


:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
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  #1037 (permalink)
Al,India
 
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Allistah View Post
Ok, so what are the entries and exits? Would it be safe to say that a close of a bar outside of the current trend line would trigger an event?

-Allistah


I literally didn't knew what creek(boy) meant.... so i had actually google it. I was surprise how my jump entries across two MA were actually jumping the two opposite banks of small creek.

Just imagine if you have to cross such a creek in jungle by your two legs....how best you can do that - just by a single jump - just cross the creek by single bar.

https://en.wikipedia.org/wiki/Creek



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  #1038 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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Sounds like I need to sort of make my own entries and exits from here. I'll try a few things and see if I can get it to work out. I'll post a trade when I get my first one done.

Thanks again!

-Allistah

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  #1039 (permalink)
phl pa. usa
 
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Love the analogy!




devdas View Post
I literally didn't knew what creek(boy) meant.... so i had actually google it. I was surprise how my jump entries across two MA were actually jumping the two opposite banks of small creek.

Just imagine if you have to cross such a creek in jungle by your two legs....how best you can do that - just by a single jump - just cross the creek by single bar.

Creek - Wikipedia, the free encyclopedia




:when you cheat -you only cheat yourself
refer to post # 470 & 527 & 930
option traders refer to post 996 thru 1005
Visit my futures io Trade Journal Reply With Quote
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  #1040 (permalink)
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Allistah View Post
Hi there...

For MAs, I just used 13 for the fast number since it's a Fibinacci number and multiplied it by 2 to get the higher number. No clue if thats ok or not.

@Allistah

If you want two Fibonacci numbers use 13/34...

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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