Display posts from previous
Sort by

IdeaRe: Trading Pullbacks System

1881 by Meyney
Chickenspicy wrote: Thu Oct 26, 2023 8:52 am I would argue that the trend line break is the best possible entry method when applying data smoothing / such as super pass band filter
TL break is not enough we want to see Price Action at the TLB (for example candles with fancy colours will not help you can not see PA clearly) . Also we use trendlines for direction ('trend') and trendlines for entries. Applied when all signs align TLB is (be selective) quite powerful.
There are 3 ways to enter; 1 when indicators (like Stochastics) are at overbought/oversold area entering lows(trend up)-highs(trend down)= fingers crossed but super early and you can add positions. 2 trendline break with decent price action and option 3 when indi a crosses b....this option is very late and often not usable.

cheers M.
These users thanked the author Meyney for the post (total 2):
Forexlearner, Chickenspicy

Re: Trading Pullbacks System

1883 by Darkdoji
Meyney wrote: Sat Oct 28, 2023 5:40 am Ask yourself is there a solid reason to short here? Do you need indicators or complicated models / youtube guru's?
Image
Logical question but also think about it this way ---------------> statics and drawings such as you have there are sexy and simple no doubt. But the problem is that these things move according to a pattern. The reason 95% or far more than that do not make money is the shock and complexity of actual dynamics which we cannot take for granted. Flows that do not repeat the same shape twice means that any assumptions will be tested by reality and a new one each day (so there can be no experts and experience counts for nothing given changes in structure and flow pattern can not be foretold or mastered from simple sketches, etc). I would not reject sophisticated approaches out of hand. In any case it is simple and the same in the end --------> buy low/sell high but look at what the number of serial winners per period tell us. Tough for most, just too tough and that is mainly because once you get off of drawings and theory and face a live screen with real money decisions to make, it is a different ball game altogether. But nice one your point and at least to encourage interest and focus on the core principles. Cheers man, long time no see.

(-_-)
These users thanked the author Darkdoji for the post (total 2):
Chickenspicy, Forexlearner

Re: Trading Pullbacks System

1885 by Meyney
Darkdoji wrote: Sat Oct 28, 2023 7:10 am Logical question but also think about it this way ---------------> statics and drawings such as you have there are sexy and simple no doubt. But the problem is that these things move according to a pattern. The reason 95% or far more than that do not make money is the shock and complexity of actual dynamics which we cannot take for granted. Flows that do not repeat the same shape twice means that any assumptions will be tested by reality and a new one each day (so there can be no experts and experience counts for nothing given changes in structure and flow pattern can not be foretold or mastered from simple sketches, etc). I would not reject sophisticated approaches out of hand. In any case it is simple and the same in the end --------> buy low/sell high but look at what the number of serial winners per period tell us. Tough for most, just too tough and that is mainly because once you get off of drawings and theory and face a live screen with real money decisions to make, it is a different ball game altogether. But nice one your point and at least to encourage interest and focus on the core principles. Cheers man, long time no see.

(-_-)
Yes I agree we can not just jump the gun at a trendline break or SD zone, more decisions has to be made as I try to say here. Like do we have an impulse-retrace (often mentioned as '2nd dot' by other traders), maybe switch to a lower timeframe etc. etc. But I repeat for me there is no reason to short here because all signs are up. First I like to see 'weakness' or solid down movement. My strategy is to wait wait and wait and then enter at a decent price....

best and cheers M.
These users thanked the author Meyney for the post (total 4):
Forexlearner, Darkdoji, Chickenspicy, maroka


Post Reply Attachments 1383

Return to “Trading Systems”

Who is online

Users browsing this forum: ChatGPT [Bot], jimfang, knglerxst, kudrpenk, Majestic-12 [Bot], Redman, Ruby [Bot], Telegram [Bot] and 101 guests