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Yup! I know what you mean. Glad you are having some fun. When you fully understand what the lines are communicating, trading takes on another level.
Keep watching them in real-time. That is a good way to learn...just observe.
Thanks again for taking the time to post your chart.
Hi,
This is what I mean.
Its a 5min plain chart.A Progress Report
Just sharing the progress made.
Hi,
I found PF by accident long time ago when I visited "trading naked" site. The trader by name Tim Morge use it trading ES with no other indicator.
I was looking for something different since everyone else is using indicator.
I dont understand how to draw it so I abandon it and go on to the next thing from Elliot Wave, Gann Fan, Gann Square Nine.
I conclude that this is all a predicting tool. A total waste since if you want to predict better be a weather man not a trader so I revert back to all the indicator that I started out with.
Hi again,
Tim Morge is definitely a Pitchfork trader who uses no other indicator. He has had the benefit of studying with Dr. Andrews' and has done his own research on the effectiveness of the tool and the methodology behind it. I like it because its validity is based in Newton's law of physics...to every action there is an equal and opposite reaction.
I am curious about how the Gann Square works because I have heard about Gann's success. Any good sites or info. out there that can give me just a basic understanding of how it works...unless you would like to? How long have you used it?
If you would like to learn how to use the fork etc. let me know. Not sure if you meant that the Pitchfork is only a predicting tool or the Elliott and Gann tools you studied, so no use bothering with it (or them). Please clarify? How ever you choose to proceed is fine, as long as the right premise is there behind the method you choose to continue using.
Charts look good.
Take care,
FX4Newbies
Hi,
I found PF by accident long time ago when I visited "trading naked" site. The trader by name Tim Morge use it trading ES with no other indicator.
I was looking for something different since everyone else is using indicator.
I dont understand how to draw it so I abandon it and go on to the next thing from Elliot Wave, Gann Fan, Gann Square Nine.
I conclude that this is all a predicting tool. A total waste since if you want to predict better be a weather man not a trader so I revert back to all the indicator that I started out with.Any Believers Yet...Progress Report 2
Just keeping you posted on the progress of the price move. Hope there are enough bulls left in the market on a Friday afternoon.
Take care,
FX4Newbies
Hi,
That would be excellent.
I can go over it during the weekend.
I feel that I am missing something in my trading. Quite hard eyeballing S/R. With PF if drawn properly can be very effective.
I just need the practice.
Thank you if you can point me in the right direction.
Regarding Gann Suare Nine I abandon it long time ago. I've research into it but I didnt use it. No Free charting application offer it.
Theres many Gann site offer some kind of explanation
Boy! You are having fun...will send you a PM later today regarding learning to think and trade using the Pitchfork.
FX4Newbies
Hi,
That would be excellent.
I can go over it during the weekend.
I feel that I am missing something in my trading. Quite hard eyeballing S/R. With PF if drawn properly can be very effective.
I just need the practice.
Thank you if you can point me in the right direction.
Regarding Gann Suare Nine I abandon it long time ago. I've research into it but I didnt use it. No Free charting application offer it.
Theres many Gann site offer some kind of explanationPrice target attained!!!
I guess the bulls stuck around, or some on the side lines got in.
Great weekend to you all.
How The Market Ended.
Just a wrap up chart.
Thanks for dropping by this week. Enjoy your weekend.
FX4Newbies
Torroray,
You're doing well for someone just trying to draw a fork. There is much more to drawing forks. There are people who trade with forks alone and others who add an indicator here or there.
Below is my response to a comment made by a very good trader. He said he has been losing for four years, and now he has added the Pitchfork, and finally feels like he has a little edge on the market.
Well John Doe, you have definitely fought to be where you are now! That is why I have a heart for newbies in trading. If they don't get the foundation laid correctly in the very beginning, AND in their thinking first; not in a method, not in an indicator, but in a way of thinking about the market and price movement...they will take as long as you have and longer...if they make it at all.
There are new traders that I taught the end of last year that have been trading on their own successfully for two or three months now: small amounts first, but making several hundred pips a week, and I promise you, they do not know as much as you do about technical indicators etc. (though they use a few). Others can look at a chart and read the market very well. They will be very dangerous in the near future. That is because they understand what they are doing and why...what to look for: when and where.
Very proud of you. Keep on pressing. Never give up!
I posted all that to say...being able to find the pivots has to do with how you are trained to see the market and price action. Most traders never see the market: they see an indicator or a set-up, but never the market. It's like using a device for years and never even taking the time to know what it is called, when it is the name that tells the story about what it was designed to do. Sometimes we just get things backwards.
Take care. Glad you are enjoying the Pitchfork. Your chart looks great!
Hi,
I think its great if you know how to draw the PF.
Its not that easy since you need to identify the market turning point LHL or HLH.
It be beautiful when previous PF lines meet with recently drawn PF.
Here's this morning move before 8.30 US figures.