unless you do the work and look at some frequency distributions you won't know will you?? I.e. If long above the open what's the lower wick range? But yes, generally speaking my get out is around 50 pips usually, but depending on how price moves ...

Trading made simple with added BS

An engineer and a mathematician are each presented with a beautiful woman and the stipulation that at each time interval, they may move half of the remaining distance towards her. The mathematician points out that the distance will never reach zero, ...

Trading made simple with added BS

Just saw this excellent post from Neio: Here is my kind of thinking when looking at OHLC data. Say if I was to just go long on candle open (not suggesting you trade like this). At what point would I know that I am probably trading in the wrong ...

Trading made simple with added BS

Of course it's dumb luck. Anyone telling you anything else is telling porkies. How you manage your trade isn't though. As long as you have the stats on your side and a logical reason to enter rather than tea leaves, you will remain consistent in ...

Trading made simple with added BS

I can see you're on the same wavelength as me. You FILTHY barstard

Trading made simple with added BS

There's a trade almost every week. If there isn't one I don't care. I don't trade many different pairs. 6 hour bars are just a tool in the toolbox, a 6 hour gleb at how things are doing. I'm actually more interested by far in where price is..

Trading made simple with added BS

this weeks open. The line I drew at the to was just an alarm I set as I was going to bed. If price came back there I was going to close: and did. If you're trading a 25 pip 'renko' trailing logic is 50 pips if you want to capture moves. If it was ...

Trading made simple with added BS

Just showing you something. I'm not getting into posting live charts in this thread. I'm not able to do it for one thing. For the other I posted enough live charts in the other thread, a fair few of them before the trade took place. Yes, I COULD ...

Trading made simple with added BS

I did completely make the numbers up btw. OK. So given that edge. You've just seen price trade below the open. It went down 40 pips, then traded back up to the open and crossed it. Which way you gonna trade? Where you gonna place your stop? And why? ...

Trading made simple with added BS

given the totally made up stats, is the timing of the entry particularly important? Note 'timing' usually means, 'getting in at a worse price'. It's timing the exit that is important, you know you won't catch all of the range but you want to catch ...

Trading made simple with added BS

if I presented some completely made up stats such as: over the last 500 bars, when the week ended green, the lower wick was 50 pips or less 50% of the time while the high-open was greater than 50 pips 80% of the time. Could you see the edge?

Trading made simple with added BS

Unfortunately my serious health issues have meant that I've spent the last 2 days in bed with man flu,a bottle scotch and a cheap hooker. Long Euro went well, I'm £69 up. She calls me BIG nun because of the costume I make her wear and the size of my ...

Trading made simple with added BS

that should of course have been close > open

Trading made simple with added BS

I'm seeing some nice work but also flaws in thinking. You are not obliged to hold a trade until the end of the week. If the candle is green (close < open) examine the open - low as opposed to high-open. If the candle is red high-open as to open-low. ...

Trading made simple with added BS

You can draw a line anywhere you like on a chart. Price can bounce off it or it can go straight through it. Does the line have any significance apart from that which you put on it? The weekly open is a fixed reference, relative to THIS week. Price ...

Trading made simple with added BS

Thx man

Trading made simple with added BS

talking of tro and his 20 pip daily wick thing. There is validity to it, but his Presentation of it is deliberately obfuscated, probably just to get you to buy, sorry 'donate' for his indies. Trade in one direction only is valid enough, trade within ...

Trading made simple with added BS

yeah he does, it's not one of the free ones unfortunately. Look up a guy called 'relativity' he put some tools out that are useful. You're not looking for a shoo win. But what can be found something that is a number of percent more likely than ...

Trading made simple with added BS

don't think there's anything magical about 6 hours either, they're total bullsh1t, just a made up tool. 6 is a good fit for my hours, the ranges seem to help and it divides nicely into to the day. Anything beyond that...just don't read anything in ...

Trading made simple with added BS

ai . Even if it does go back, if you've run the stats you should know the edge. Adding to your edge is your time management. I.e. It's gone back, it's Friday afternoon, you're not getting back into the black this week. You close for a loss which ...

Trading made simple with added BS