Advanced trading lessons - page 72
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
real simple first thing i always do!!! when a time period closes.. if its a new week? or maybe a new month?
or just a new day in the middle of the week. that's as low as i go!! a day!! i plot the range of that day
week or month!
here is how you plot the range of a new time period!!!
simply draw a box from the highs to the lows of time periods close by!!!
consider the psychology of the markets recent activities!! will the range be medium
or has been small and a change could happen!
once you draw some range boxes on some close by candles move that box to your new time period!!
that simple!! now tomorrow night i will show you how to move that range into the trend position!!
this will be step two!!! listen to me!! there is no better range finder that is truly accurate then drawing
boxes around candle near by!! this is the most accurate way!!
positioning that range box in the correct place up or down is the next trick! and it's a bit more involved!!
range of distance gives you an advantage!
1. it gives you a perspective on the potential risk vs reward and
2. helps define decision making !
3. it's your foundation.
now there are two types of ranges a trader should consistently track! absolutely no doubt!!!!
the second range is the swing range.>>>>>>>
think of the market like a DNA Model >>>> two sides with stuff in the middle!!!!
1 >>>>>there is structured side tracking method !!! that involves time.. and time frames ... opens and closes ....
2 >>>>> there is the free spirited side or (abstract side)!! that involves no time, just starts and finishes of swings..
so we also have to track the Abstract side!!! the swing ranges!!! this is key for helping you place your
time frame ranges... into positions up or down on the chart!!!
these two foundations work in tandem one with out the other is like house with one side collapsed!
you know the reason i came back here was!! There is just so much crap out their!! nothing
seams to work!!! not for just you!!! not for anybody!!! no one!!!! sure theirs people like
Dr. Bary Burns.. rely trying his best to help... and few others... i believe Nials Fuller has
dramatically changed to the helpful side!!! and many others pushing to make traders better..
the truth is there is so much help out there its absolutely mind blowing!!
getting to the point... i am no market wizard!!! i am just a guy who works like crazy for year,
doing what ever it takes to be the best. determination!!!!!!!
that leads true sound advice!!! so when comparing me to others! know this. i worked hard
to know for certain, things to be a necessary for trading!! all the rest became bull!!!
swing ranges are simple as can be. measure the swings. highlight them as a range. a range with out
time constraints. later tonight i will show you my charts and how use the two ranges together!
very simple stuff.
Hi Boe, is this a new strategy?
Hi Boe, welcome back. I'm hoping this will actually go somewhere this time, not just some more bells and whistles that just confuses rather then helps to succeed in trading. Always open to new concepts because these old ones, (not talking about just you but in general) do not work.
meek here i am pal! i promise you.. i will make things easier this time...more clear and
a better handle on trading then any one can provide that i promise!!
good to here from you.
try and determine a good solid idea of the next periods range>>
step two : measure the trending swings and the counter trending swings in the trend!!
then put the numbers on the chart... it should look something like this!!! you do not have to
be perfect just a good ruff idea!! example here!!!
example of the eur /usd .... monthly time period...overlays on the daily time frame
This seems more confusing than the previous strategy. So where is your trade on this chart?
now you have the beginnings of a foundation to work from.
this sets your brain up so you can see the correct potential.
there is load of information you can get from this process...
#1 - each trend has its own range identity.. counter and trend range identity... now you can see this identity... in terms of numbers..
#2 - also it helps to let your brain digest how the swing range relates to time frame range...
now step one and two are complete.. next lets smart way to place our yellow monthly range into the best position we can..
so lets start step 3. but before we do!! step three we actually have to skip step three and use step 4 first , then back to step three!!