thanks everyone..to do this..left click on the ma, then hold shift key down and roll mouse..so easy.
I finally took a look at Perrys webinar.I have been avoiding looking at anyone elses trading styles, because i dont want to get off track.Well, curiosity got the best of me..Also, having so much down time, i spent some of it thinking.Basically, i should be able to look at someones trading method, subjectively, and not get off track(like in the old days.
Ok, so im watching the webinar, and he uses a 4 range....hmmm.....ive had this 4 range up for a year and a half.Ok, he uses alot of mas...hmmm.I used the gmma for a while, so , i get that.Geez, it seems like ive been around the block , right?I put in many months with each of the changes, that i made in the past, so, the last thing i need, is another big change, which means more time to test,test,test.
Perry reiterrates, that most people use mas, but incorrectly.I can see that point.
So, i duplicated his chart, and put it up next to my 1 minute.The signals are different...except, when there is a trend(makes sense).I also created a chart, with the mas only, and no candles, and put it next to the one with the candles,because its hard for me to see with all of it together.
I can certainly see why discretion is so important(in any method)
In January, i will see how the signals correlate, with the 1 min.As i said , the trend trades make total sense.The thing is, we have to be patient, and just wait for the Correct scenario, which, is also typical.
happy new year everyone!!
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check out the video, and the screen shots.This is basically Perrys chart, on the 4 rng.I put up a ch with just indicators, to see better also.The 1 min was in a solid uptrendpast 10 am, so wasnt looking for longs.Basically, using the 1 min as my long range.I passed on alot,Its not my favorite thing, to be going long in to the hod, or short into lod.Anyway, im still dialing it in, but it all makes sense.My question is, on my entries, they seem to really be on the 1st pullback.I dont like to trade, when the mas are flattish.Did i get in late?And on all the others, were they correct entries?they seemed logical to me.Any comments welcome
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a very good point bluemele.I have the 1 min up for the trades that i was workin on, in Dec.I think, one of the main challenges, in any method, is choosing the trades to take, and not to take.the 1 min was in screaming uptrend past 10am.So, any shorts that set up on the 4 range are not taken(obviously).Personally, i cant take a 4 tick profit as a target.The 1 min will not only give me some entries, but, will determine myprofit target, and also, show the main pivots i need to be aware of.
so, if the 1min is looking ok for a long, but doesnt give me a takable signal, and the 4 range does, that will work.However, using the 4 range solely for entries, is in the past for me.I can see how alot of traders would struggle with that, because its like seeing the leaves only, and not the forrest.
Also, trade management, is an area that is so important.Just in the posts from you and Panda, i have finally come to the realization, that the swing high or low, is really where the sl should be.
So, the plan, for now, is to continue with the method i was working on in december, and, use the 4 range when applicable.Thanks again!
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I was going to agree but whom am I to get in the way of someone else's journey.....especially since Perry's system helped me understand the concept of buying strength and selling weakness. In that respect, it was well worth spending the week or so I examined why it works........if for no other reason than that, I respect Perry's method. I didn't start looking at it for that reason but when it dawned on my that was what was happening, thats when I moved to the minute chart and looked to above a green candle and sell below a red one.......
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
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I agree. Please take anything I say with a grain of salt and I deserve no weight put on any words I type.... Just showing you the other side of the story.
To me, what I have learned seeing guys from a couple years ago on many forums is when they start becoming profitable. The realization I have come to is like what Big Mike and others have been screaming for a while. When you start adding indicators on your chart you are just covering up some of the 'price action' (over used word in my opinion).
Just like divergence, selling/buying into strength, etc.. To me, you don't need indicators to see it, but if it helps you then by all means.
The challenge I see with so many too is that they don't get immediate results or the market conditions change slightly. Perry's Method/Shadow Traders Method and so many derivatives like it (Charles Booth/Nexgen) or whatever all are doing the same thing.
What I have been doing in my own personal journey is looking at people's systems and seeing if I can see when a certain indicator does a certain thing what price looks like via a RENKO, Range and Tick chart or even volume chart. When I can identify that price movement via those charts and without the indicator then I truly free my mind from having a proxy and when my eyes see that setup again it is much easier to 'click'.
I look back at my own journey and I noticed that I am following my indicators much less than I used to... Is that why I am less profitable. I believe it is a transitional period of taking the training wheels off. Indicators show you a possibility, much like price does on its own.
I am overstepping my advice for today as I have seem to upset a few people... haha... Again, this is all from a DEMO trader who has lost way too much of his own money to take advice from....
My comment at Bob was mainly that the system will work IF YOU STICK TO IT FOR A VERY LONG TIME and DON'T CHANGE IT THAT OFTEN. Once you can identify the true underlying price and how that looks, then you will trade a naked chart like nothing.
I will butt-out of this journal for the time being and let you follow your own path. I have been shaken up by a few people myself in my journey/journal, and sometimes I didn't like it, but most of the time I grew as a trader.
Nothing bothers me more than trolling though, so at least I haven't been doing that... haha...
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