RplusT wrote: Wed Feb 16, 2022 11:32 pm
No, this thread will never be useless. On the contrary, you got the experience and are doing the right thing, thus please keep doing so for the sake of giving everyone (who wants to) an opportunity to learn the basics and understand price action and above all direction. That's all one needs to know. All the ones asking me in private messages about trendlines, I send them all to you.
All the best
I was directed to this thread by you. And it has really really helped me. Once you figure out the direction. It's just easy to follow. I still have a bit of difficulty trying to draw my trend lines like Meyney's own, but spearman's correlation indicator which tries to call tops and bottoms seem to help when used in reverse. Bottoms in an uptrend are the best entries in a
pullback, offering the best risk to reward and tops in a down trend. Since direction is the most important like you've taught me. An efficient way to be in only trending markets per time or per day (as an intraday trader) seems to be the next thing now. Being in the right market is 70% of the job from what I have learnt so far. In the right market, anything would work. In the case of this strategy, being a
pullback strategy, I think we should also look into a sure fire way of identifying trending markets daily and be in them as they'll offer us the best conditions for this amazing strategy of ours to work.
Meyney and RplusT, I am eternally grateful to you both.