as soon as i am in a trade
managing the trade!
well each trade, i look at two things:
#1. upper time frame analysis. target analysis.this involves several things
#2. what i call start from zero. zero is the entry point. this involves several things
what i do is lower my time frame at zero.
starting from zero. i go to the one minute time frame, with 30 minute over lays.
the next thing to do is gauge time....
A.... when is the next 30 minute time frame going to open?
B.... when is the next 1 hr time frame going to open?
c.... when is the next 4 hr time frame going to open?
d.... when is the new day going to open?
what is physical price doing compared to the upper time frames opens and trend line?
when looking for targets, it's relative.. how much profit are you willing to give up to keep the trade, and what does analysis
say about the target?
start small and work your way up.
of course you do not have to be this systematic when you have a good target analysis, but sometimes things are not as clear
this is stage one.
each trend line crossing
each time frame has its own range, that you must except as a reasonable loss to you.
if the range is twice as large as your typical risk then, a take profit and re-entry maybe a possibility.
if you have good target analysis then that can be the point of exit.
once a upper time frame trend line is crossed, and the trend continues i go up one time frame
with new overlays.
so we crossed the thirty minute then we move to the one hour over lays with 15 minute time frame.
now you make it
now you crossed the four hour time frame in a four time frame range.
not only that but a new day is starting, so the range will be longer in time, and most likely larger in daily
over lap. now if the trader believes the larger trend will continue in the next week or two, and that
the current weekly range candles will not go up enough to take out the entry then the trader may choose
to hold the trade, for the larger swing.
but being in a four hour range means four hour swings against you most likely.
think of this in this way:
you are in a four our swing range, and you just crossed the four trend line, and are ranging
on the four hour in four hour swing range.. with daily over lap range about to start.
if this was below the four hour range it would be worth more to hold.
but what does analysis say? next question.
have to go for now
analysis says strait down for now!! and that over rules the lower time frames.
if the tolerance to except the four hour range is there. i will explain analysis later i have
to go being rushed by the wife.
i bring analysis with me when i trade constantly with overlays.
you all know that by now. what type of analysis would over ride the 4 hour time frame
with weekly overlay's, the daily time frame with monthly overlay's...
at the same time using yearly ...open ...close... highs...lows. from the past for support and resistance.
[langtitle=it]where were you![/langtitle]
a great friend of mine suggested me to look at your thread, i did it yesterday, and i couldn't stop reading your lessons.
I have tosay that I have been looking for something like this since two years ago!! The stuff you are teaching is great and i want to tkank you for your efforts to divulgate you great work.
This is thinking out of the box.
I was already applying some (but only some) of your rules, thanks to what my great friend tried to teach me in two years, but i was still feeling like a driver in the fog, now i can see all clearer.
I'll continue to follow you with great interest, I'm so greed of learning smart things![/lang]
i am glad to help. i hope this is the most enlightening advice any trader ever received!
i try my best. the best part is there is no charge. but i do encourage traders to pay
what is owed. help others less fortunate! glad to have you here!
i am not sure
i am not sure who told me this along time ago, i think it was "Intention" but it does not matter
who it was.
they said targets are there main focus...
i said entry is my main focus.. i thought about that conversation for a long time.
i kept thinking isn't targets the same thing as entry? i realized they are the same!!
if you know where the market is going to stop with momentum, and turn around then
wouldn't you enter the market at the target point going the other way?
of course you would!!
my next subject is target analysis. better yet!! counter trend trade entries.
we have covered the entry side of the market with trend analysis!! how about the
counter trend side entry analysis.
in a trend the other side of the market is the analysis, the counter trend may be not worth taking.
unless the potential is large.
it's all relative. what is it that you want to risk. for what type of reward.
so it depends on the individual.
1.--the next section is counter trend analysis.
2.--after that comparisons to the trend side, marrying the two together.
this next section
I warned you guys this would be a journey.
this next section we will look at the: counter trend side of the market.
we have already done: tracking the trending side.
so when we are done with the counter trend side you as a trader will be the
ultimate channel trader!
knowing targets.... counter trend entries,and reversals....