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the easy edge for beginner traders


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the easy edge for beginner traders

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  #1061 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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So what happens when a new high is made and then there are a number of bars that come up that are the same exact high? Do you move the trend line to match the last of the bars that had the same high as all the rest? I hope that makes sense...

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  #1062 (permalink)
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creekboy View Post
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!

Keep learning. Do not stop, and forget about the small stuff like boredom or whether you enjoy trading or not. Just stay focused on becoming an awesome trader. Nothing else matters. Trust.

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  #1063 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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Spent a number of hours on this today and I've got it down. Did some backtesting with it as well. Going to start using it tomorrow...

I just have the question about still about multiple higher that touch the same price. You know like a double or triple top where all the peaks are the same exact price.

I'm guessing you just use the latest one. Is that right?


-Alli

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  #1064 (permalink)
phl pa. usa
 
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Allistah View Post
So what happens when a new high is made and then there are a number of bars that come up that are the same exact high? Do you move the trend line to match the last of the bars that had the same high as all the rest? I hope that makes sense...

yes you are correct.

here is a small example

red is first touch of base

green is 2nd touch

you see where the redline now shifts to green line

once the 2 ma's cross, the trendline you are working on has now completed its course.
once the 2 ma's cross, that is when you start your new trendline.
if the one ma crosses the trendline but doesn't cross the OTHER ma, then you will end up going back to last trendline and adjusting accordingly when it gives you a new hi/lo or matches previous hi/lo.



: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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  #1065 (permalink)
phl pa. usa
 
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smae ole same ole

: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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  #1066 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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I saw you guys pointing out when trend lines cross. Does that make a target price or something? Does it have to be a minimum of three lines?


-Alli

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  #1067 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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Thanks for the explanation. That matches what I understand. I think I've got it down now. :-)


-Alli

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  #1068 (permalink)
phl pa. usa
 
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we use them a S/R areas and magnet zones - sometimes when you watch them there will be directional moves triggered (time)at those areas -





Allistah View Post
I saw you guys pointing out when trend lines cross. Does that make a target price or something? Does it have to be a minimum of three lines?


-Alli

Sent from my iPhone


: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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  #1069 (permalink)
Bay Area, CA
 
 
Posts: 136 since Jun 2010
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I understand what S/R is but I don't know what a magnet zone is.. Can you explain?


-Alli

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  #1070 (permalink)
phl pa. usa
 
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Creeker marked up the chart in his normal confusing way so i'll try and make sense of it for you since creeker isn't much of a talker or typer.

When 3 or more trend lines cross, creekboy calls them a magnet. He uses them as an indicator drawing the price up or down to them AND/OR a trigger time, meaning if there's a magnet high above at lets say....1:30 and the MA with the candles is really low, he will look to see if at that time will the magnet pull the MA up to it. Same thing if the magnet is down and the MA is up...will it pull it down to it.

We don't trade off it but use it as a guideline. In the mornining he will go through the chart and find them and put circles around them.

In the picture below, I made the magnets pink and the big ovals are to help you correlate the move with the pink magnet. Please keep in mind that it's just a point of reference to consider or to help you decide to stay in or get out of a trade.
Hope this helps.
NYSOM






Allistah View Post
I understand what S/R is but I don't know what a magnet zone is.. Can you explain?


-Alli

Sent from my iPhone


: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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