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Ive been trading for 3 yrs (laptop) been thru all the rookie stuff by now. I can appreciate waiting for the rite moment & dont have the desire to trade all day to catch every move.
I believe I got my plan down to a simple approach..and after trying dozens of methods I like the camarilla pivots.
My entry is after a "close" above H3 level & a "close" below L3 level and thats it! This has me trading alot less & with higher probablility.
I observe price action inbetween H3 & L3 levels and watch the whipsaw that goes on, thus recognising floor traders piting againts retail traders...yes a handfull of times in that zone price does move smoothly, which makes it tempting sometimes.
Now according to Nick Scott, a bond trader in the 80's, creator of the SureFireThing Camarilla Equation...
says when price breaks H3 or L3 levels, which is derived by previous days Open High Low & Close, is when hedge fund & Inst. traders are waiting on, thats when they come in. Those levels are the same no matter what time frame or tick frick or lick..dont matter...High % of the time she takes off from there.
Ive been trading YM because of the risk factor is less verses TF 5$ vs 10$ but on friday the break w/ YM wasnt that great vs TF see attached. Im gonna start loging my trades each day begining monday.
Oh yea..I use a 7 & 4 range and a confirmed close w/ the 7 range before entry.
Im not currently using the SureFireThing Camarilla but a free version..I dont kno if anyones used it before who's in this forum?
Not trying to comment to myself..somehow I replaced 1st pic w/ the 2nd one...so heres TF break out of H3 on friday and see the YM wasnt much on its break out, not always the case.
I may talk to myself but quating myself is a 1st lol..if u hear me answer myself back then be weary
Congratulations on starting a public journal. It can be hard to post on losing days so make sure do post both good and bad...
Now a question. In your introductory statement, you said you only traded with the Camarilla Pivots...a close above or below the H3 or L3......why then are all the other indicators necessary? The oscillator at the bottom? Is it needed to determine a close above or below? How about the BB's, do those help show a close above or below? And the moving averages....I'm not sure if they show a close above or below any clearer......not trying to disparage you, but the chart is really busy compared to the statement you only trade above/below the #3 levels.....just wondering.
Sorry the first visitor post is one that questions you but I read the post and was pretty surprised by all the indicators. I expected to see a more or less naked chart...
Good luck....
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
The whole oscillator set at the bottom looks like Woodies CCI with "chopzone" and "sidewinder" multicolor lines. I tried it long while ago and gave up on it especially when I heard about Dr. Famir.
Thanks for the interesting info about institutions at Camarilla H3 and L3 levels.
You are absolutely right..now funny thing is just before I logged in today (sunday) I remade both charts w/out any of those indicators except for a 55ema.
I was thinking about the same thing, if I truly am going to trigger in after a close, say above H3 on both charts, why should I allow distractions to myself w/ all that noise? And for now I want to track TF because more volume & definite action as compared to YM.
Actually your questions confirm that Im on the rite track w/ my own questioning, healthy criticism, well not even criticism just straight forward honest questions of one another is what will make us all better traders.
Here's my new screen shot that I just finished before coming on BM's..honestly I just completed few min's before coming on...& am like..wow..Im a believer of universe or someone bigger showing us signs that whether were on the rite track or not...to me ur post is more evidence confirming Im doing the rite things.
yea thats wcci ive been using it for a long time now, didnt hear about Dr Famir? I did like the colors and it real good with divergence. But as Im sure you will read above post response Im considering not to use any indicators, at least for ahile.
I attempted to post up my new charts but didnt happen? So Im going to post'em here on my response to you. these charts r squeezed to see bigger picture
Billplaying w/ these little dudes while I wait for upload..thats what I did wrong earler.
playing w/ these little dudes while I wait for upload..thats what I did wrong earler.
