Practice reading/trading Price Bars

neil

Legendary member
5,167 749
I found this simple bit of advice which reminded me of one of the approaches I used to practice decision making with price bars:)

Taking screenshots is a great idea, I do it all the time - you can then go back, after the event, and try to see all the conditions around your entry to see if you can spot some consistent factors which make an entry good or bad.

As for the latter, I came up (by mistake ) with the following neat trick: print out 3-4 copies of the same chart; cover it with a blank sheet and reveal it bar by bar, marking your trading decisions. Repeat the same in 2-3 days, then in 10-14 days, then in a month or so.

When you are done with all those identical copies, have a look how many similar setups you actually marked. The setups which will be present on all copies are the ones you should be focusing on when trading.


Source : "Forex007," Post 3195 at;
Jankone M5 thread - Page 160 @ Forex Factory

Enjoy:)
 

neil

Legendary member
5,167 749
I found this simple bit of advice which reminded me of one of the approaches I used to practice decision making with price bars:)

Taking screenshots is a great idea, I do it all the time - you can then go back, after the event, and try to see all the conditions around your entry to see if you can spot some consistent factors which make an entry good or bad.

As for the latter, I came up (by mistake ) with the following neat trick: print out 3-4 copies of the same chart; cover it with a blank sheet and reveal it bar by bar, marking your trading decisions. Repeat the same in 2-3 days, then in 10-14 days, then in a month or so.

When you are done with all those identical copies, have a look how many similar setups you actually marked. The setups which will be present on all copies are the ones you should be focusing on when trading.


Source : "Forex007," Post 3195 at;
Jankone M5 thread - Page 160 @ Forex Factory

Enjoy:)

Price action and bar identification - simple stuff:)
Untitled Document
 

NVP

Legendary member
37,767 2,101
I found this simple bit of advice which reminded me of one of the approaches I used to practice decision making with price bars:)

Taking screenshots is a great idea, I do it all the time - you can then go back, after the event, and try to see all the conditions around your entry to see if you can spot some consistent factors which make an entry good or bad.

As for the latter, I came up (by mistake ) with the following neat trick: print out 3-4 copies of the same chart; cover it with a blank sheet and reveal it bar by bar, marking your trading decisions. Repeat the same in 2-3 days, then in 10-14 days, then in a month or so.

When you are done with all those identical copies, have a look how many similar setups you actually marked. The setups which will be present on all copies are the ones you should be focusing on when trading.


Source : "Forex007," Post 3195 at;
Jankone M5 thread - Page 160 @ Forex Factory

Enjoy:)

plus you can also wallpaper the walls as well if all else fails .......(kidding) :cool:

N
 

numbertea

Well-known member
257 9
I have been saving all intraday data for ES, the only instrument I trade, and playing it back later when I have time or on weekends. An indispensable tool. I can't impress on all of you enough how much doing this has helped me. While trading during the day my emotion is high and my brain works differently than when I am relaxed and placid. I see things differently and my decisions are different. It is a valuable thing to look at same things with different points of view.

Cheers
 
 
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